London a key £106billion driver of the rise in global online sales following the pandemic

Thursday, March 10, 2022 8:16 a.m.

Online shopping in supermarkets has reached an all-time high thanks to the coronavirus.

London was at the forefront of the global online shopping boom, with record investment in the capital last year.

As the world emerged from the pandemic, retailers took in more than $140bn (£106bn) from web-based sales in 2021, more than double the previous year.

Following numerous lockdowns which led to a surge in virtual shopping, UK-based businesses raised $7bn (£5.3bn) through digital means in 2021, while the retail sector The capital’s online retail has racked up a record $5bn (£3.8bn) in the past 12 months. , behind only San Francisco, New York and Bangalore.

Overall, Britain ranks fourth in the world for investment in online shopping, after China, India and the United States; while London is now home to more digital unicorns than any other European capital.

Laura Citron, CEO of London & Partners, which collated the data with Dealroom.co, said the figures showed the capital had “some of the most digitally savvy customers in the world”, while the UK chief executive of Stitch Fix, an American styling service, said it chose London because it is “home to high street icons”.

Data released by global retail and banking giant Klarna also highlighted that UK shoppers are the most open to shopping online.

Almost half of UK consumers surveyed shopped on the web at least once a week, which was higher than anywhere else, including the US, Australia and Germany.

Commenting on the UK’s digital shopping culture, Alex Marsh, Director of Klarna UK, praised UK shoppers for their “quick adoption of new technologies”.

“Now more than ever,” Marsh said, consumers are looking to buy products “safely, seamlessly and flexibly both in-store and online,” which is why digital shopping and payments have taken off.


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David A. Albanese