Despite a challenging year for UK retail in 2020, ecommerce managed to perform above and beyond expectations. Globally, worldwide retail ecommerce sales posted a 27.6% growth rate for the year, with sales reaching well over $4 trillion.
Across the sales season (Cyber Weekend, Boxing Day and December), UK online retail performed well, giving many retailers a glimmer of hope for the future. Black Friday turned into Black November, with UK retailers continuing their sales throughout the month to stimulate much needed sales.
After pivoting business models to comply with new regulations, UK retailers clawed back lost revenue in December. Online sales surged and retailers continue to adjust their focus to a digital-first approach.
Check out our infographic below for some key stats, or download the eBook for the full story.
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As we look towards the future, 2021 is looking brighter and more hopeful already. UK retail is resilient; the changes made last year will set us up for the best chance of success. Being agile is key – UK retailers need to respond swiftly to changing market conditions.