Online Shopping surged to 120bn in 2021, what’s next for 2022?
Anita Naik, a Lifestyle Editor at VoucherCodes.co.uk, said: “The pandemic has acted as a catalyst for many changes in the retail industry, especially the migration of more consumers to online shops and people relying more heavily on online retailers than in the past.”
There’s no denying that the world is changing dramatically. At the close of the 2020 – 2021 market, the landscape of retail bears little resemblance to what it once was. Physically retail establishments are still fighting an uphill battle towards stability, falling a dramatic £35.3bn in comparison to 2019 – 2020. Recovery is slow but steady, with 2021’s physical sales forecast to rise 1.4% – a total increase of £3.9bn.
Where the high street faces a long and arduous battle ahead, e-commerce platforms go from strength to strength. By the end of 2021, £120.6bn of online sales are expected to account for 30.2% of overall retail spending in the U.K.. While we will likely see this meteoric surge start to level out in the coming months, over a third of U.K. consumers are expected to spend as much – if not more – online than they did before and during the pandemic.
For your business to truly thrive in this multi-billion pound market, a robust and sustainable e-commerce strategy is becoming the one thing you can’t afford to neglect. A slick, stylish website, exciting goods and services, and a plan for dynamic customer engagement is a must, but failing to prioritise the nuts and bolts of your e-commerce platform can be almost as detrimental to your business as a poorly executed marketing strategy.
The demand for online retail is higher than ever, but the competition is, too. Standing out from the crowd is already a challenge, but once you have your customer’s attention, you need to be sure your website is ready to take that crucial next step: converting that interest into sales!
Prioritising your web performance isn’t just a job for your tech team: take a company-wide approach and stay ahead of the competition with optimised user experiences and an in-depth Website Performance Audit. In a market moving as quickly as e-commerce, the ability to remain ahead of the curve is a game-changer for success.