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U.K. leads world in online retail export
A new report from OC&C Strategy Consultants and Google reveals the success of UK retailers with the country being the world's leading ecommerce exporter.
UK retailers exported a $1 billion more goods than were imported in 2013, a trade surplus far ahead of second and third place U.S ($180 million) and Germany ($34 million).
The Global Retail E-mpire Report, from OC&C Strategy Consultants and Google, also predicts that, over the next seven years, online trade among the six biggest ecommerce markets (France, Germany, Netherlands, Nordics, U.K., U.S.) will grow fivefold to $130 billion. That's significant growth from 2013's $25 billion, driven by rising consumer confidence and a global increase in people with Internet access.
The study shows that the number of consumers searching online for British brands and retailers from outside of the UK is growing on average by 46% a year since 2010.
"The success of UK retailers can partly be attributed to operating in the most advanced ecommerce market in the world, but also to the high level of trust international customers have in UK brands and retailers," says Peter Fitzgerald, director at Google. "Looking to the future, any retailer wishing to enter the market must adopt a digital-first strategy to succeed."
The U.K.'s success in online export was attributed to sought-after retailers such as ASOS and Net-A-Porter. The reasons behind UK retailers' strong performance against overseas domestic competition were better choice, advantaged pricing and a compelling site and customer service experience.
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