Country Comparison: The State of E-Commerce
There is no doubt that under the current circumstances e-commerce around the world has increased. We have been given few other choices in terms of the purchasing of goods with many shops closed until further notice. However, to know the extent of the increase and the market share of online retail it is important to know what the circumstances were – we need to know the base line.
This article will look at a selected number of countries so as to provide a snapshot picture of what the situation was like prior to 2020. This is interesting as it provides a baseline starting point for many businesses especially those providing sales support for international businesses in the UK to see what sort of growth there has been. It is also of interest for those businesses who have not seen an increase as the second quarter of 2020 would be the exact time where e-commerce businesses should be seeing an increase. Those who have not should take a close look at their structure, Amazon sales support, or perhaps it is the relationship between offline and online sales management services that needs investigation or perhaps it is reflective of the country specific conditions and then as such a change in market is required.
Internationally the top countries engaged in e-commerce sales are, in order, China, United States of America, United Kingdom, Japan, South Korea, Germany, France, Canada, India and Russia. All of these states saw an increase in retail sales from 2018 to 2019 but some more than others. India (31,9%) saw the greatest increase followed by China (27,3%) and Canada (21,1%). The United Kingdom is positioned as a mid-level growth country out of the top performers with a 10,9% increase.
If we take a closer look at retail income that comes from e-commerce and turn that lens to the United Kingdom within the framework of Europe. In 2017 the UK had the highest percentage of retail income from e-commerce followed by Germany and then France. This shows the potential markets which are already open to online retail with the UK leading the market. In 2018 the UK also led with per capita online shopping, measured in Euros, which adds to the picture that comparatively the UK has been open to online shopping and embraces it more than its neighbours.
Now turning to the future state of e-commerce; J.P. Morgan’s 2019 Payments Trends Report provides a forecast for 2021 value of e-commerce markets comparing the UK to selected European countries. Although the UK and Germany, are expected to show smaller growth rates compared to other European countries, the UK is still expected to preserve its role as the leading country in e-commerce market.
E-commerce was on the increase and was already set to expand internationally, regionally and locally but it is possibly going to see higher growth rates. It is therefore essential that with the correct sales and marketing consultancy it is possible to tap into this growth particularly within the retail environment.
How the London Bridge Project Can Help to Deliver Success
The London Bridge Project (LBP) is a leading sales and management consulting firm that provides both amazon consulting services and amazon sales support for businesses looking to grow exponentially within the biggest marketplace in the world. We offer a complete end-to-end service for Amazon based businesses, which includes providing valuable insights into Amazon sales data and a pipeline of under-explored opportunities within your niche.
If you would like to learn more about how the London Bridge Project can help your online business, make sure to contact a member of our team today to discuss your requirements.