Will Ecommerce slow in the Brexit age?
In a recent article published on Forbes, the question of Brexit and its affect on e-commerce raised its head. Questions such as, "What will Brexit bring for the domestic e-retailer?" "How will it affect the international sellers?" and, "Will UK e-shoppers buy more from domestic online sellers?" are all hot topics at the moment.
The UK is a leader in e-commerce in Europe. It has the largest market and on average, 86% of internet users in the UK shopped online. But with Brexit, will this trend continue?
Nina Angelovska of Forbes researched for an answer. The full article can be found here but a quick summary would surmise that with increasing tariffs, checks and regulations, difficulties are on the horizon. That's not to say there won;t be more opportunities also. For domestic only trade, there may likely be an increase in trade as shoppers display their 'loyalties' to domestic products and look to avoid increased delivery times and tariffs.
However, the situation remains uncertain and the outlook can only become clear when a Brexit it done, and there may be many days ahead yet...
Report commissioned by B2B Next show that 2018/19 is ripe for growth.
In the run-to to the B2B Next conference in USA this September, event organiser B2B Next commissioned a study into trends for the B2B e-commerce industry. The report showed that, at time of press (June 2018), the overall B2B e-commerce market is approximately $900 billion and is on track to account for $1.1 trillion by 2021. This growth towards 2021 is fueled by the fact that current uptake on B2B e-commerce is less than 50% today but is predicted to rise to 70% within the next two years. In addition, 80% of those surveyed said that they planned to increase spending on B2B e-commerce in 2018.