E-commerce businesses have grown \u201cseven times faster\u201d than the global retail average, according to a new study.<\/p>\n
OC&C Strategy Consultants, which published the figures, found that the biggest online international retailers averaged 30 per cent growth last year.<\/p>\n
This is compared to their physical retail counterparts, which managed just 4.3 per cent growth.<\/p>\n
Not surprisingly, Amazon tops the growth table chart, increasing its revenue by some \u00a323.5 billion year-on-year.<\/p>\n
In terms of percentage growth, meal kit provider Blue Apron grew by 134 per cent in 2016, followed by fashion platform Farfetch (70 per cent), and British e-commerce retailer The Hut Group (50 per cent).<\/p>\n
Meanwhile, the food sector as a whole grew just three per cent, while the fashion sector grew just two per cent.<\/p>\n
Anita Balchandani, partner at OC&C Strategy Consultants, said: \u201cIn the UK, the growth outliers have defied pessimistic forecasts by either clarifying their market positioning into value or luxury very clearly or by single-mindedly pursuing online growth.<\/p>\n
\u201cThere does not appear to be a growth premium for multi-channel retailers, but rather it\u2019s the online pure-players or the store-led value formats that are finding the biggest growth.<\/p>\n
\u201cTo find market-beating growth, brands must have a deep understanding of multiple factors, including how to compete with the rising e-commerce ecosystems, how to capitalise on the growth in digital channels and where M&A could confer a strategic advantage.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
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