UK online shopping market ‘stagnating’
Written by Anthony Strzalek
The UK online shopping market has stagnated while international shopping from the UK has risen to 71 per cent of consumers in 2017, up from 66 per cent last year, new research has found.
The Pitney Bowes study which surveyed 175 UK retailers and 1,000 UK consumers, also found that one in six UK consumers now purchase international goods online monthly, driven by choice, quality and price of goods (58 per cent).
Foreign brands are keen to capitalise on the trend with 96 per cent of French retailers and 93 per cent of German retailers eyeing the UK market as part of their overseas expansion plans within the next 12 months.
The majority (93 per cent) of UK retailers planning or already operating internationally in attempts to grow their business. Meanwhile, 59 per cent of UK retailers currently operate cross-border signifying that inter-country commerce still has room to grow.
Georges Berzgal, vice president Europe for Pitney Bowes Global Commerce, commented: “It’s surprising to see that UK consumers aren’t put off buying abroad despite the devaluation of the pound. People are now buying cross-border at a greater frequency and our report reveals that as domestic markets reach maturity, retailers globally must now look overseas for the real growth opportunities.
“This is great news for UK consumers that can expect to see better deals and a greater choice of high quality products available to them on international marketplaces. More and more retailers are also turning to technology to increase efficiencies and lower operating costs to give consumers improved service.”