Could a business be more competitive than online shopping? The right answer is not a simple YES or NO. The right answer is

online shopping

Do you currently own a high-street retail store? Expansion into the industry of online retail and e-commerce could provide your business with huge expansive opportunities and the extra level of capital requirement you desire.
 

Industry Analysis



The online shopping market has seen a spike in growth over the period of 2016, with a 16% growth in the UK market. This has been said to have been largely driven by an increase in purchases made from smartphones with a 47% YOY growth from December 2015 through to December 2016, with further expectations of growth throughout 2017. In contrast, sales made on tablets were down 3% YoY. In December, smartphones accounted for 54% of mobile device sales, with tablets accounting for the other 46%. This is a huge uplift on December 2015, when smartphones accounted for 39% of mobile device sales.

 

Annual Online Shopping Growth Rate (UK)
 

Looking at the Christmas period, which is defined as running from 13th November through to 24th December, £25 billion was spent online. This was up an impressive 16% on the amount spent in 2015 as consumers continued to shop for presents online.
Reasons for increased sales online would include, but not limited to:

 

  • Greater Transparency.

  • Higher cost saving potential.

  • Fast & Convenient.

 

However, drawbacks would include:

 

  • Greater Transparency.

  • Higher cost saving potential.

  • Fast & Convenient.


In the year 2017, the online shopping industry is expected to grow by 14%. In the year 2015, online shopping was mostly used by consumers between 35-44 years. The reasons vary from the cheaper priced products to saving valuable time. In 2016 the total online shopping sales across the world reached $22.049 trillion, which is a growth of 6% from the year 2015. In 2020 online sales will increase up to $27 trillion.
 

Industry

Growth rate (in %)

accessories and lingerie 38% and 33%
gifts 26%
footwear up 21%
online sales 3%


 

The online retail sector is the main driver of growth in European and North American retailing, achieving in Europe growth rates of 18.4% (in 2014), 18.6% (2015) and expected rates in 2016 of 16.7% and in 2017, 15.7%. In comparison by the annual growth rates for all types of the retailing range between 1.5% and 3.5% pa. The recession has induced many shoppers to buy online rather from traditional stores. The fact that internet search is comparatively easy and predictable has made online retailing very attractive for a wide range of products. Retail focus on the growing use of mobile technology is an additional factor in making online retailing attractive and convenient.

As before the European online market is dominated by the UK, Germany, and France which together are responsible for 81.5% of European sales in these eight countries.

Is your business ready to reap some of those online sales?

 

Launching an online store can be challenging for small businesses, which are often short on time, budget and staff. But B&F digital marketing team can help you make designing and maintaining an online store relatively simple and affordable. For most people, the thought of writing a business plan brings up painful memories of past homework assignments and many online store owners view them as something only "real world" businesses and Silicon Valley start-ups need.

And let’s face it, there's all that fun marketing stuff you could be doing like taking product photos, writing blog posts and opening social media accounts. But the truth is, the fun stuff will only be meaningful if you build your business on a strong foundation. And that's where writing a simple business plan comes in. Whether you're an established or start-up business, it's important to have the plan to help you achieve your goals. In B&F Services we are a professional business plan writers.

When writing your business plan, we become collaborators with you to convey your company's vision clearly and to describe and illustrate its expected financial performance. We combine our experience in finance and market research to create a winning business plan for a hard-sell audience of investors, venture capitalists, and bank loan officers.
 

Your advantages with us:

 
  • Consultants with over 10 years’ experience and market know-how across a wide range of industries
  • Decades of experience in projecting financial performance and growth of business all from one hand:
  • Consulting and Coaching
  • Professional Business Plans
  • Business Establishment and Accountancy
  • Comprehensive Software solution
  • “save time and get experience”
  • Over 3,176 established businesses in the UK<
  • Over 1,756 completed business plans
  • 485 completed Tier 1 visa business plans
  • 96% secured funding based on our business plans
  • £55 mil. raised for SME`s

Would you like to start your journey to a successful business with a professional business plan?

Start here