The coronavirus lockdown was not kind to the UK retail sector and despite the
re-opening of shops, things are not really getting better. In fact, since most
consumers opted for online shopping solutions, many physical stores are having
to close down or take the help of administrators.
The Office for National Statistics revealed data which shows
that transactions processed on the Web, in comparison to offline, grew
exponentially when the country when into lockdown in May. This sector reached
its peak, at 32.8%, in May and then slowly started to decrease. In early June,
the high streets began a slow phased re-opening. This was some good news for
shop owners. Nonetheless, online shopping
still accounted for 28.1% of retail sales.
According to experts, the UK e-commerce sector, after
getting a boost from the pandemic, will keep growing. Numbers from the retail
insights firm Edge by Ascential show that by adding £5.3 billion (about
$7 billion) in sales in 2020, the total market value volume will be £78.9
billion (approximately $105 billion). Before the pandemic, the original
forecast for this year was only £73.6 billion (around $98 billion).
The firm advances that one major winner of this growth is
going to be Amazon, followed
by grocery giants like Tesco, Sainsbury and Walmart.
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