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UK E-Commerce Generates Huge Trade Surplus
New reports are indicating that the UK e-commerce market generated a trade surplus of £720 million in 2013, making it the world's top exporter of online retail goods. Experts believe that popular fashion and style brands based in the UK have largely contributed to this trade surplus. The success of the UK's e-commerce exports are expected to continue in 2014.
Global Searching Helps UK E-Commerce
The globalization of UK e-commerce caused the huge trade surplus in 2013. Studies show that international search capabilities and marketing efforts helped to increase awareness and availability of popular UK brands. The UK was the number one e-commerce exporter in 2013, followed by the US with £110 million, and Germany with £12 million. The Telegraph reports that this is due to the UK having more popular e-commerce brands per capita than its competitors.
UK Fashion Brands Sell the Most
The Telegraph also stated that UK e-commerce fashion brands, such as Net-a-porter, ASOS, and Farfetch have largely contributed to the market boost. While the UK's total e-commerce market is still lower than that of the US and China, the global demand for these fashion brands has led to the UK being the top nation in e-commerce exports. Online trade between top e-commerce countries is predicted to rise to £79 billion by 2020, and if this trend continues, the UK could still be the leaders in e-commerce exports.
ECS-World Merchant Services
ECS-World is a top merchant services provider for UK e-commerce companies. With industry-low rates and one-on-one client services, we have provided reliable offshore merchant accounts for businesses based in the UK as well as other European countries. E-Commerce businesses can take advantage of beneficial features such as multi-currency processing and a payment gateway that is compatible with many major credit card brands. This will help any business appeal to a global audience. To learn more about credit card processing services that ECS-World can offer you, or to apply for your e-commerce merchant account today, contact us today. You can call a live representative at 1-800-318-2713 [US] to get started today.
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ECS World provides credit card processing services to online and MOTO businesses with its PCI compliant payment gateway solution. Whether you want to process onshore, offshore, or internationally, they have a solution for you!