According to the Q4 2017 SME Growth Tracker, a report by Capital Economics commissioned by Amazon UK and Enterprise Nation, 2018 is set to be a big year for e-commerce in the UK. The report is comprised of an in-depth YouGov survey of over 1,000 small and medium-sized enterprises (SMEs), and provides an assessment of the overall health of SMEs in the UK.
The Q4 2017 SME Growth Tracker suggests that nearly 9 in 10 SMEs will be selling their products and/or services online by the end of 2018. This represents a significant increase on the 64 percent of SMEs who say they use e-commerce currently.
The projected upsurge in e-commerce activity in 2018 is primarily driven by a 36 percent increase in the number of SME business owners planning to use their company website to sell online. 24 percent of business owners are also planning to sell more on their own mobile apps in 2018, almost double the 13 percent of the previous year. Businesses also expect to sell more online via third party retailers (rising from 21 percent to 27 percent).
The SMEs who use e-commerce currently are also anticipating significantly faster revenue and job growth in 2018. In comparison to their counterparts who do not sell online, those who do use e-commerce are expecting to enjoy more than three times the revenue growth (+1.9 percent compared to +0.6 percent) and two times the increase in jobs (+0.8 percent compared to +0.4 percent).
Reflecting on the findings, Doug Gurr, Amazon’s UK Country Manager, said that
“The contrast in performance between businesses who use e-commerce and those that don’t is significant, so it’s reassuring for the UK economy to see small businesses investing in digital. The impact digital tools and services have on a small business cannot be underestimated. They can improve productivity, boost revenue growth and provide real export power for SME’s.”
Clearly, despite the continued uncertainty surrounding the UK economy in the wake of the vote to leave the EU, Britain’s small and medium-sized businesses are set to enjoy increased growth throughout 2018 if they follow through with their intentions to expand online.
If you’re looking to make the move to e-commerce, or if you’re already selling online, we can help you to increase sales using a variety of digital marketing channels, including Google AdWords and Facebook Advertising. Call us today on 01603 343477 to discuss how we can bring you the business growth you deserve in 2018.