Britain's £100bn internet economy leads the world in online shopping
Saturday, 30 October 2010
A report out from Google & Boston Consulting Group today claims that the e-commerce sector is worth £100bn/year to the UK economy, or 7.2% of GDP.
British consumers seem more willing than those in the rest of the world to turn to online to source goods and services. Paul Zwillenberg, a partner at BCG and one of the report's authors, says "There is a perception that prices are higher in Britain and there is a perception – correctly – that you can buy goods and services cheaper online."
Certainly the affiliate channel has been a major contributor to that growth, with shopping comparison sites, discount sites, voucher code sites and cashback/incentive sites achieving significant market penetration over the last 5 years.
You can find the BCG report here: http://www.connectedkingdom.co.uk/
The Guardian's upbeat take on the story is here: http://www.guardian.co.uk/technology/2010/oct/28/britain-internet-economy-online-shopping with a deeper look at the figures here: http://www.guardian.co.uk/global/datablog/2010/oct/27/data-store-economicgrowth
For a more downbeat assessment of a report, including pointing out that the launch of the report coincides with a Parliamentary discussion about Google, The Register's take on the story is here: http://www.theregister.co.uk/2010/10/28/google_uk_internet_economy_report/