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It’s Pancake Day in the UK, so here’s some good news that proves online retail is anything but flat: Internet sales crêped up in January. According to a report by The Office for National Statistics, January e-commerce sales averaged £640.4m per week, representing 11.9% of all retail sales (excluding automotive fuel) and a year on year increase of almost 40%.
An unquestionably difficult economic market has left many online merchants battered, but most are far from beaten. Internet retail has picked up another 2% of the total market, in the last 12 months, as part of an 8% rise over the last four years.
The UK is now Europe’s leading e-retail economy, and the second in the world after the USA, with annual sales estimated to be upwards of £68bn.
So here’s the UK’s recipe for e-commerce success:
1. Take 51m internet users and reduce to 32m online shoppers, then stir in an average basket-value of £137.
2. Whisk online sales growth rate until it reaches 16%, then add to mix.
3. Strain through a conversion rate of 3.9%, then flip and retarget your abandoning consumers with Ve Interactive email remarketing, until satisfied.
4. Sprinkle with m-commerce, to suit the tastes of the UK’s 22m mobile internet users.
5. Divide up into more than 1bn parcels and send to internet users spending £1500+ per year online.
So there it is, if you’re an online merchant in the UK, the figures stack up. If you want help increasing your share of the spoils with a patented Ve Interactive shopping-cart abandonment solution, or want advice on how to increase your conversion-rate with SEO, improved website design or through content and social media, don’t hesitate to get in touch.
From all of us at Ve Interactive, happy Pancake Day!
