Why the UK?
With a prestigious retail history, the UK is home to everything from internationally recognised brands to artisanal small businesses. Its retail sector has proven resilient during the impacts of the COVID-19 pandemic, with sales reaching £421 billion in 2021 (1).
The pandemic has also further propelled the growth of the UK’s substantial eCommerce sector.
The UK is pioneering in e-commerce and retail technology. The UK has the largest mobile retail sector in Europe, with 43% of retail being conducted through smart phones and tablets (2).
In 2021, over £97 billion was made through online retail sales - the highest in Europe (3) and with a population of 67 million, the UK has one of the highest penetrations of internet access among developed economies (4).
It is predicted that there will be 64 million total Internet users (93% of the population) by 2022, and the transformation of shopping has provided new opportunities in mobile retail, which is now the fastest growing segment of the retail sector in the UK (5). Companies and innovators can make use of the services provided by the existing market, along with the excellent skills and talent present in the UK.
The UK welcomes international investment, and the Department for International Trade (DIT) has a dedicated team of experts in digital trade, providing investors with market entry advice and encouraging connections throughout the digital ecosystem.
Please contact the team via enquiries@invest-trade.uk to discuss how we can help you succeed and grow in the UK.
1. ONS: Dataset, Retail sales pounds data, 2022
2. Centre for Retail Research, 2019
3. ONS – Retail Sales Index internet sales, 2022
4. Cisco VNI Complete Forecast Highlights (United Kingdom Device Growth Traffic Profile), 2022
5. Cisco VNI Complete Forecast Highlights (United Kingdom Device Growth Traffic Profile), 2022
