British businesses and e-commerce
According to new studies, e-commerce channels are gaining importance across UK Businesses. The study of B2C and B2B businesses in the UK shows that digital channels now account for around 41% of luxury revenues compared to retail channels which account for approx. 26% of income. It is not just e-commerce that is seeing this rise, mobile commerce is too witnessing growth with luxury spearheading the development. This however still sees challenges as it is not straightforward introducing e-commerce into older more traditional sales channels. The management of distribution and handling the customer service side of things are some of the obvious barriers which need to be overcome if you are to integrate successfully.
In 2014, nearly a quarter of sales were released through online channels. Through the digital channels of desktop, social and mobile, digital commerce has now become one of the most important business channels. This can be said not just for the UK but globally.
The importance of Digital
A recent study has found that on average 73% of respondents believe that digital commerce is important within their industry. These results are at their highest in the retail sector at 87% and the luxury retail sector at 100%. The report shows that it is the wholesale sector with only 33% in agreeance which falls well behind.
As mentioned, mobile-commerce has also become more important for businesses in the UK. Somewhere exceeding 35 million people now own an active smartphone in the UK which is astronomical. In the same study almost 49% of respondents already have an m-commerce strategy in place be it that they have websites optimized for use on mobile devices or whether they have already tailored an app that can be downloaded and used on a mobile device. As with e-commerce, luxury is at the fore adoption of mobile through its sales channels at a staggering 96%. No surprise that wholesale is again lagging behind at a miserable 10%. Businesses understand that the biggest benefit is enabling them to get much closer to their target customers be it in terms of data collected as well as being able to target them far more accurately.