What is ecommerce?
Ecommerce, often known as electronic commerce or online commerce, is the purchasing and selling of goods and services through the internet, as well as the financial and data transfers required to complete these transactions.
How much has ecommerce grown in the UK?
Ecommerce now accounts for more than a quarter of all retail sales in the United Kingdom, according to analysts. This figure is predicted to rise substantially, reaching roughly one-third of all retail sales by 2024. In 2020, the UK ecommerce market contributed to a global growth rate of 26%. Ecommerce sales are continuing to rise. New markets are forming and established markets have the potential to grow even more. According to the Statista Digital Market Outlook, market expansion in the United Kingdom is likely to continue in the coming years. Another sign of market saturation is the United Kingdom's 82% online penetration rate; in other words, in 2020, 82% of the UK population purchased at least one item online. According to Statista, 55% of the population in the United Kingdom shops online, with clothing and sporting goods being the most popular items.
These are the largest segments in the United Kingdom:
- Fashion is the largest segment in the United Kingdom, accounting for 34% of all ecommerce revenue. The market is expected to be worth £27,060 million in 2021.
- Toys, hobby and DIY come in second with 18%.
- Electronics & Media at a rate of 17%.
- Food & Personal Care, 16%.
- Furniture & Appliances, 15%.
According to Ecommerce News EU, most purchases (73%) are made within the United Kingdom. 16% of purchases are made in EU markets, while 11% are made outside of the EU. For millions of people in the United Kingdom, online shopping has become a daily routine. As a result, UK customers are used to receiving and returning products purchased online. With such a high degree of online purchasing expertise, UK customers have high expectations for delivery timeliness, user experience, and hassle-free returns procedures.
The importance of logistics in ecommerce
So, what options are available for you?
Fulfilment is an example of outsourcing (or e-fulfilment when it comes to online stores). Fulfilment is the process from inventory storage and management to order processing and order picking to shipping the product to the consumer, including any returns. E-fulfilment businesses have the technology, knowledge and quality control in-house to optimise the logistics process from start to finish. E-fulfilment businesses handle the logistics for many major online stores. Many internet retailers value not having to spend time on logistics, even if it costs a lot of money. They would rather concentrate solely on the company's main business and growth. Within the fulfilment process you maintain control over the sales process and have a better understanding of your inventory and probably most importantly, you benefit from better profit margins because you control the products.
Third-party logistics (3PL) companies serve as a bridge between a completely hands-on and a completely hands-off strategy. You still have control over the things you sell on your ecommerce site, the only difference is that your products are stored, labelled, and packaged by a third-party fulfilment centre. For businesses that try to handle everything on their own, the shipping, fulfilment and logistics landscape is getting increasingly complex and costly. Leave it to us at Trident Worldwide so that you can focus on other aspects of your business.
Take control of your entire logistics process with Trident Worldwide’s single platform designed to offer an end-to-end solution. Taking all the hassle out of logistics, so that you can focus on growing your business. Our technology allows you to control your stock and logistics in one place so you can concentrate on what matters – your business.
**Resources: ** https://ecommercedb.com/en/markets/gb/all https://osome.com/uk/blog/2021-ecommerce-trends/ https://www.bigcommerce.com/ecommerce-answers/what-logistics-and-how-does-it-apply-ecommerce/ https://www.sendcloud.com/e-commerce-logistics/ Add your main content here.