In the past few months it has become increasingly evident that UK consumers prefer to shop online than face the bustling crowds on the high street.
And according to new figures released by the IMRG, the online market will grow by 13% this year to a whopping £77bn. The UK online retail market is now the second largest in the world.
There are nearly 230,000 online retail businesses in the UK and these new figures suggest this number will keep increasing.
This is good news for wholesale buyers as most buyers operate (at least a portion of) their business online. The new figures definitely suggest that online retail is worth investing in. Many wholesale buyers use sites like eBay or their own e-Commerce site to sell wholesale products.
But one piece of technology retailers need to be aware of is mobile shopping. Last year 5% of online sales were made via mobile phone and smart phone devices. Wholesale buyers need to be aware of mobile shoppers – adapting websites and shopping carts for this growing market while continuing to source competitive wholesale suppliers.
