BRITAIN’S online retail industry generated a bigger trade surplus than any other country last year thanks to thriving overseas demand for UK fashion brands and websites such as Burberry and Asos.
A study out today from OC&C Strategy Consultants and Google reveals that UK online retailers exported a net £720m more goods than were imported into the country in 2013. The US and Germany followed in second and third place – albeit significantly behind the UK – with trade surpluses of £110m and £21m respectively.
Leading Britain’s online export success were fashion brands including Burberry and Barbour as well as websites Asos, Net-A-Porter and Wiggle, which ranked among the most sought-after retailers by overseas buyers.
“The success of UK retailers can partly be attributed to operating in the most advanced e-commerce market in the world, but also to the high level of trust international customers have in UK brands and retailers,” Google director Peter Fitzgerald said.
The report estimates the value of the online retail sector based on Google searches for the UK, US, Germany, the Nordics, the Netherlands and France, which make up half of global e-commerce volumes.