The UK is the world’s leading e-commerce exporter after it successfully led the way in the online fashion market in 2013, according to a new report.
Today’s study from OC&C Strategy Consultants and Google found that ASOS and Net-a-Porter were the biggest winners, as the UK generated around £720m of trade surplus in 2013.
The report, which analyses the estimated value of online retail based on Google search for six of the biggest e–commerce markets which includes the UK, US and Germany, predicts that online trade between the six biggest countries will grow fivefold to £79bn in 2020.
Trade surplus in US and Germany in 2013 was £110m and £12m, significantly lower than the UK’s figure.
“The success of UK retailers can partly be attributed to operating in the most advanced e-commerce market in the world, but also to the high level of trust international customers have in UK brands and retailers,” said Peter Fitzgerald, Director at Google.
Anita Balchandani, Partner at OC&C, said that the growing international online retail market represented a “great opportunity for British retailers.”
“At the same time, international expansion poses many challenges and will require retailers to master new capabilities and complexities,” she added.
“As a market matures, and new pockets of demand emerge, localisation will be crucial – from tailoring the range on offer, to ensuring that delivery and payment methods work for each market.”