January 16 ,2015 | by Thiago Kiwi

UK online sales surpass £100 billion mark for the first time

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UK internet sales broke above the £100 billion level for the first time.

Digital sales in the UK continue to rise as shoppers become more adept at navigating retailer’s online stores, racking up a total of £104 billion spent in 2014 to break above £100 billion for the first time ever.

It’s a vast sum of money and further highlights the health of UK economy which has mostly been powered on consumer spending. When comparing 2014 to the previous year, we can see sales grew by an impressive 14 per cent, according to the most recent IMRG Capgemini e-Retail Sales Index report.

 

2015 should see sales add up to £116bn

UK online sales now accounts for nearly a quarter (24 per cent) of the total retail market, again illustrating that more and more consumers prefer shopping from the comforts of home rather than hitting the high street.

It seems we should expect more of the same in the year ahead, as the report predicts that the online retail market should grow by 12 per cent, with online sales forecast to tot up to a total of £116 billion.

“When we consider that almost £1 in every £4 is now spent online, and that a large proportion of the other £3 is influenced by some form of digital interaction, it becomes very clear that retailers need to continue to embrace the opportunity that e-Retail poses,” said Adgild Hop, head of retail consulting at Capgemini.

 

55 per cent growth in purchases from handheld devices

The growing trend for online shoppers continues to be the use of handheld gadgets, as it appears that mobile sales saw the biggest growth with an astounding 55 per cent increase in the amount of purchases made from a mobile device. Furthermore, £8 billion was spent via smartphones and tablets in 2014, compared to the £5.1 billion in the previous year.

“Looking to the year ahead, we expect to see convenience remain high on the list of customer needs and in turn both online sales and click and collect volumes remain strong,” said Mark Lewis, online director at John Lewis.

“With this comes the need for a solid back office function both in IT and distribution and this remains a key focus throughout 2015 to ensure we meet continue to meet customer demand,” he added.

Thiago Kiwi

Thiago is the LSBF Blog Editor who manages news and features content on the site, and writes about business, finance, technology, education and careers.

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