By Rob Drummond on Mon 01 November 2010 in Web & eCommerce
A new study commissioned by Google has suggested that online business now accounts for 7.2% of the UK’s gross domestic product (GDP) – approximately £100 billion a year.
Sixty percent of this comes from ‘internet consumption’ (the amount people spend on online purchases, and the cost of internet connections).
We are spending more and more online, on a wider range of products, and this can have a big impact on your business.
Compared to the offline economy for example, where only 90p for every pound is exported, £2.80 for every pound is being exported online.
The growth in eCommerce is real, and not confined to websites such as eBay and Amazon. Thousands of businesses – including SME organisations selling complex products and services, are making a fortune online.
Riding the wave
If you feel your current business model doesn’t support online sales, consider the following examples:
- Penny Hydraulics – based in Derbyshire – sell hydraulic cranes and lifting equipment to the trade. While initial sales are still offline, we helped them create a secure customer portal, where customers can view the lifting equipment they have bought and purchase additional or replacement parts.
- Cycling Sports Group (CSG), are one of the UK’s leading importers of bicycles, selling to independent stores as well as national chains. We helped them create a customer portal, allowing customers to place online orders after work or at weekends. Online orders now account for 20% of CSG’s revenue.
- LTT Vending provide drinks machines and other refreshments to the public and private sector. We helped them set up an eCommerce store integrated to their back-office systems, where customers can order new stock, manage their machines and log problems.
In summary: real companies selling real products are making real money online…
With integration to your back-office systems and a little imagination, we rarely meet a business that could not benefit from some form of an online store. With our Easy eCommerce templates, we’re offering to get you up and running quickly, without major upfront capital investment.
It isn’t for everyone, but if the examples above resonate with your business please do check out Easy eCommerce.
Whatever you decide to do though, go ahead and grab your slice (or sliver!) of that £100 billion before your competitors do.
P.S. You can read about the eCommerce report mentioned above on the BBC website.