“E-commerce is having a huge impact on the way we do business. It can lead to dramatic growth in trade, increase markets, improve efficiency and effectiveness and can transform business processes.”
That’s not us talking, that’s the Office for National statistics, who have been tracking the enormous growth of web commerce over the last decade.
The increase in the amount of money being spent and being earned online continues to astound analysts and defy anyone who dares to suggest that Internet retailing, e-commerce, buying online, internet usage; whatever you want to call it, is reaching anywhere near its peak.
In 2008, according to the Office for National Statistics, Internet sales represented 9.8 per cent of the value of all sales of UK non-financial sector businesses. This was up from 7.7 per cent in 2007.
The value of these sales rose to £222.9bn in 2008, an increase of 36.6 per cent from the 2007 figure of £163.2bn. Sales consisted of £104.7bn website sales and £118.2bn EDI – Electronic Data Interchange – sales over the Internet.
With similar levels of increases year on, year on, for Xmas sales online being also part of the picture the good news is that the increase in Internet sales is expected to continue into the near and mid-term future. The sky is really the limit.
Also, if the take up of broadband continues to progress then the sky really is the limit sooner than many people have previously thought, for the amount of business likely to be done online.
Latest research from media analyst firm Forrester Research suggests, in fact, double digit growth over the next five years.
Online retail in the UK will enjoy a compound annual growth rate of 10 per cent over the next five years to reach a value of £36bn by 2015, according to figures from Forrester Research.
It’s also worth noting that the picture of good times for e-commerce traders is as true for local traditional companies and services as it is for e-tailers and e-commerce merchants who are looking to sell their wares nationwide or globally.
The fact is that the Internet has ushered in a revolution in the way that companies can do business, maximise sales, increase sales at lower costs to customers and create closer contacts with customers, including developing a greater understanding of what customers want.
Websites and effective web design also allows companies of all shapes and sized to market themselves cost-effectively on a level playing field; and often very cheaply, in terms of a small website, but with amazing potential results in terms of the potential reach of any given professionally produced website, allowing companies to constantly update and develop their branding, PR and marketing to customers 24-7.
It’s also apparent from numerous research that businesses who are doing well are often those who are online and using the internet effectively.
All of which means that it’s as clear as a bell that if you are any type of business at all, whether a retailer, someone offering business services, a sole trader, a co-operative, a partnership or a limited company – and you do not have a website – then you should be making it a number one priority if you want to grow your business!
We’d be glad to help.
Naz and the web designer team – Web Tag, Slough, UK.