UK retailers are best placed take advantage of the opportunities presented by China’s recent world record for online sales, according to freight forwarding company, Allport Cargo Services
The country posted record-breaking $9.3bn total sales on 11 November 2014, after its annual ‘Singles Day’ celebration drove 40% of China’s entire internet community online.
The figure, generated by Taobao, an online shopping website and Tmall, a retail platform for small businesses, dwarfed the previous record of $1.3bn posted by the United States in 2011.
Logistics giant, Allport, believes the Eastern love of British brands and Western fashion means UK companies in particular are primed for growth within the rapidly growing global ecommerce market.
The record also demonstrates the increasing influence ‘uber’ shopping days have on online sales in particular. ‘Black Friday’ is a further example - as the Friday following Thanksgiving in America, it is routinely the country’s busiest shopping day of the year and has been since 2005.
Clyde Buntrock, Group Marketing and Business Development Director, commented:
“The pace at which online retail is growing is astounding – 213 million online accounts were active on this day in China, leading to these phenomenal sales. This new world record is a trumpet call to the UK to maximise the opportunity for growth but it will not come without effort. Only those companies with fully integrated ecommerce solutions will thrive and a closely aligned marketing and logistics function is also going to be key. Logistics must become a central part of a company’s customer proposition.”
Taobao and Tmall are both owned by Alibaba Group, which floated on the US stock exchange in September.