E-Commerce Continues to Show its Strength
The Office for National Statistics have recently released data on how E-Commerce is performing in the UK. This news brings good news for online retail but more stress to a already suffering High Street.
The stats released performance throughout all of 2017 with many expecting these figures to rise dramatically in the near future. The stats presented by The Office of National Statistics are:
- E-commerce sales by businesses in the UK non-financial sector with 10 employees or more were £560 billion in 2017, rising sharply from £484 billion in 2016; this year-on-year increase of 16% was the largest since 2011.
- Growth in total e-commerce sales by businesses with 10 employees or more has been driven by an increase in website sales of £131 billion since 2011, while electronic data interchange (EDI) sales have declined by £61 billion.
- Including businesses with fewer than 10 employees, e-commerce sales were made up of £300 billion website sales and £286 billion EDI sales.
- In 2017, of businesses with 10 employees or more, 82% had a website, almost double the proportion of businesses with fewer than 10 employees, at 42%.
- Fast broadband speed of 100 Mbps or more was used by 16% of businesses with 10 employees or more in 2017, up from 4.6% in 2010
“16% was the largest growth since 2011”
These stats when compared to the retail statistics show how badly retail is being left behind. One source says retail grew 3.5% this year which would look great but when compared to the growth of E-commerce 16% it shows how far retail could fall and how quickly.