If ecommerce in the UK has taught us anything, it’s that consumer trends can change substantially, and the world is becoming more and more online friendly. So much so, that ecommerce is expected to reach €222 billion by the end of this year. In 2019, ecommerce in the UK surpassed the €200 billion mark—which means we’re about to see an expected growth of about 11 percent.
The UK is the largest B2C ecommerce market in Europe, with 96 percent of the population expected to leverage online in 2020. So, what are consumers buying? It turns out pretty much everything, but more apparel and sports goods than anything else:
For the everyday consumer, there’s a wave of convenience in leveraging an online platform to get everything they need. Whether it be groceries, home goods, or clothing, ecommerce brings everything they need at the push of a button. But for retailers, the growth of ecommerce offers a different set of challenges. As buyers make more purchases from home, they are also returning items: apparel is leading the wave at 30 percent. Shoes stand at 13 percent, and in third come electronics with a seven percent rate of returns. So, what do all these returns mean to retailers? It means they need a solution.
As the ecommerce market continues to grow at an accelerated pace in the UK and Europe, retailers and brands are adapting to new secondary market strategies with B-Stock. We help retailers use private, online auction B2B marketplaces to sell their returned and excess stock. These marketplaces are customized, integrated, and scaled based on the retailer’s unique needs. They also allow total control over who is buying the inventory and how it enters the secondary market.
Read about how sustainability is a must in today’s market, and if you’re ready to tap into the growing recommerce market, get in touch with our Head of Business Development, EU, Giorgio Vitale.Email Giorgio