A new report has found that the e-commerce sector is set to soar for the US and many EU countries over the next six years, according to telegraph.co.uk.
The Global Retail E-mpire report was carried out by OC&C Strategy Consultants, in collaboration with Google. The data looked at Google searches relating to the e-commerce market for the UK, US, Germany, France, the Netherlands and the Nordics. It predicted that the e-commerce trade for these countries would reach £79 billion by 2020 – up from £15 billion last year.
Those who carried out the report claimed that the reason for this soar in e-commerce is due to the fact that the industry is becoming increasingly interconnected worldwide.
Talking about this, Peter Fitzgerald, director at Google, told realbusiness.co.uk: “The global increase in the number of people with internet access coupled with a rise in consumer confidence, combine to provide the ideal market conditions for e-commerce.”
In particular, the data found that the UK online retail industry created a surplus trade of around £720 million last year – the biggest result globally.
Mr Fitzgerald said that the success of UK retailers could be due to the fact that international customers have a high level of trust in UK brands and retailers. He also claimed that UK businesses are “operating in the most advanced e-commerce market in the world.”