By keeping abreast of the latest eCommerce technologies, UK’s biggest online retailers saw their sales spike by 23% last year.
Ocado, ASOS, AO.com, Made.com, and Feelunique are just among those who made the list.
Their revenues, which increased to £8.4 billion from £6.8 billion in the previous year, can be attributed to mobile commerce as online shoppers are increasingly making purchases with their smartphones, according to the new report of services firm RPC.
Artificial intelligence (AI), chatbots, augmented reality (AR), voice assistants, and other recent developments in online retail also contributed to their success, as these make mobile shopping easier and more enjoyable for consumers.
Join in the automation game
If Amazon can work with robots so can other online retailers like Ocado. RPC’s report revealed that the British online grocer has just announced it is investing £150 million in warehouse robotics.
That’s going to give them a competitive edge, especially nowadays when consumers are constantly looking for better yet cheaper service.
Jeremy Drew, co-head of retail at RPC, has this to say about this momentous development:
“From being virtually unknown five or ten years ago, many online-only retailers are building strong brands and grabbing more and more market share. Innovative business models and rapidly evolving new technologies such as robotics and AI are enabling e-tailers to be increasingly agile and responsive to customers, while still keeping prices down.”
Strategies to stay ahead of the game
Not wanting to be left behind, bricks-and-mortar retailers with online stores are increasingly relying on their online offerings to increase their sales, says RPC. Marks & Spencer’s online sales, for instance, jumped 6% while its in-store sales have gone up by only 1%.
Other businesses that have long established their presence on the Internet are looking at making additional acquisitions to stay in the lead.
Tesco is one of them and actually about to complete its takeover of wholesale group Booker for £3.7 billion.
With the growth of eCommerce sales, a surge in mergers and acquisitions should come as no surprise at all. Karen Hendy, co-head of retail at RPC, confirms that in this statement:
“Some of the larger players will be keeping an eye out for fast-growing platforms they can bolt-on, in order to rapidly grow their customer bases or to give themselves a foot in the door of new markets. We are already seeing this sort of strategic deal-making taking place.”
There’s really no stopping the growth of online sales, so make hay while the sun shines.
What do you have in common with these big online retailers? We hope to hear from you in the comments down below.
As always, to your continued success,
Dave & Matt