To what extend the online shopping effected the UK economy and what does it mean for future businesses in the UK - Essay Example

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The UK is among the world’s leading online shopping locations with figures indicating that 91 Billion sterling pounds was spent in 2013 and 107 billion pounds in 2014 according to IMRG-Capgemini eRetail Sales Index (Rigby, 2014). These revenue figures and steady growth puts…
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To what extend the online shopping effected the UK economy and what does it mean for future businesses in the UK
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Extract of sample "To what extend the online shopping effected the UK economy and what does it mean for future businesses in the UK"

Download file to see previous pages Useful statistics will be cited in the presentation to paint a proper picture of the UK online shopping industry.
Started 20 years ago, online shopping has vigorously picked up in the UK with the latest research by UK retailer Shop Direct revealing that one in every four people in the UK prefers online shopping as opposed to making physical store visits. The research further revealed that 95% of British people now buy goods through internet retailers. So what are the reasons for this shift in 20 years on? According to Wallop (2013), the following come out as reasons why most Brits prefer online shopping:
They have the ability to search and locate the specific good or service they want- From the comfort of their living rooms, buyers can get the specifics of what they want without having to walk into multiple stores. This makes it easier to make a decision and compare among the many available options which good or service suits a consumer.
Online shopping is extremely convenient: With retailer websites available all day and night and the efficient delivery systems within the UK, customers enjoy the convenience of being able to shop from any location and at any time of the day or night. This flexibility has significantly contributed to the growth of this mode of buying goods and services.
The elimination of crowds and queues: Online shoppers forego the trouble of vesting physical stores that have the disadvantage of being crowded especially during peak shopping seasons. This has made it the most preferred mode of purchase, something that justifies the high statistical findings of UK populace choosing the option.
Ability to easily compare prices and see reviews: Before an online shopper settles on a product, they have the advantage of comparing at the click of a button, similar goods from competitor companies and looking at past customer experiences with the goods/service of interest. This helps in properly informing the buyer on the best among the ...Download file to see next pagesRead More
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