Entrepreneurs Are Taking Advantage of The E-Commerce Boom To Compete With High Street Goliaths
The UK is now the third largest market for e-commerce globally, and it is predicted that by 2024 95 percent of all retail sales will be conducted with the help of an e-commerce platform. And entrepreneurs who are running thriving businesses across the Storage Giant portfolio are running with this trend that is reshaping our economic habits for good.
Storage Giant incubates thousands of SMEs across Wales, The Midlands, Bristol and beyond, and the fact that the UK is the largest B2C market in Europe with online shoppers now making up 81 percent of the population is not lost on the thousands of entrepreneurs who have established small business during the pandemic. We see enterprising people across all sectors realising their business ambitions under our roof, with e-commerce being a huge factor in their business model.
The soaring popularity of online shopping experienced during the Covid-19 Pandemic looks set to stay, with a projected 66 percent rise in the number of UK consumers stating their intentions to shop all, or mostly, online once restrictions are fully lifted, according to the UPS E-commerce Report 2021, produced in partnership with YouGov. It also anticipates a 125 percent increase in UK shoppers over the age of 55 buying all, or mostly, online in a post-pandemic UK. The tools of e-commerce allow small firms to compete with larger companies despite the size disparity, and this is certainly a strong environment for more entrepreneurs to set up shop online. In the first quarter of 2020, e-commerce made up 20.3 percent of total retail in the UK. By the second quarter, this share had risen to 31.3 percent according to the OECD.
Are you looking to set up small business with e-commerce at its heart? We provide office and storage space for thousands of B2C and B2B SMEs, as well as C2C – those sole traders who focus upon purchasing products online and selling them on. Key predictions are for a rise in household, cosmetics and grocery categories, as well as electrical and white goods, clothes and footwear. Check out our trader storage here: https://www.storagegiant.co.uk/business-storage/ebay-fledgling-business-traders-storage/