Ecommerce set to be large part of UK retail sales in future
Online retailers are becoming increasingly common among consumers in the United Kingdom, as shoppers turn to the internet for convenience and easier product comparison. The trend is expected to become more widespread in the future, as more customers will be purchasing items and services via the web.
According to recent research by the Economist Intelligence Unit, approximately one-third of the retail sales in the U.K. will happen online by 2022, reports Internet Retailing. Currently, about 10 percent of purchases from retailers take place through the internet. As shoppers move to web buying, retailers will attempt to accommodate these consumers by integrating digital resources into their operations, including the use of point-of-sale kiosks, smartphone applications and other forms of new media.
"The opportunities for retail over the next decade and beyond are enormous," said report author Jon Copestake. "But where the future markets will reside and the way in which we will buy goods will change dramatically."
Internet Retailer states that recent online retail sales in the U.K. have seen significant growth, according to a study by e-retail trade group IMRG. In September, British consumers spent £6.4 billion ($10.25 billion) through the web. This represents a year-over-year increase of 16 percent.
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