The UK’s online retail market is in robust health and will continue to grow throughout 2012, according to one of the industry’s main trade association.
The Interactive in Media Retail Group (IMRG) says the UK’s eCommerce industry is expected to grow by 13% this year, bring the overall market to a value of £77bn.
The forecast strengthens the UK’s position as a global leader in the market, second only to the US in terms of market value, IMRG says.
John Andrews, managing director of IMRG, says the market has “exploded” and 30% of all cross border trade in Europe goes through UK retailers.
“This means that British retailers export more than the rest of Europe’s e-retailers put together,” said Mr Andrews.
“It is a huge business – last year our research found that there were 228,000 UK online retail businesses now, that’s an estimated 30 per cent more than the year before.”
Mr Andrews was making these comments ahead of major business summit to be held on August 9 at Lancaster House.
UK success in eCommerce will be one of the main topics The British Business Embassy where 3000 business leaders will be in attendance.