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E-commerce in China | Online sales boost UK expenditure | Small Business Saturday

China’s e-commerce market sets example for UK SMEs
 

As China develops into a highly consumer-led economy, the country is undergoing an ‘e-commerce revolution’ and has become a key player in international online trade.

According to Forrester Research, China’s online sales will reach US$1 trillion (£0.65 trillion) by 2019. In addition, new e-commerce customs guidelines will improve procedures and boost cross-border transactions.

With a little research and the right support, there are many opportunities for UK businesses to take advantage of China’s booming e-commerce industry.

 
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UK expenditure on the rise thanks to online sales
 

According to the latest Visa Europe UK Expenditure Index, there was a 10.7 per cent increase in consumer spending in August 2015 compared to the previous year. This is the fastest annual increase in four years.

This growth was led by online retail, particularly online summer sales. Kevin Jenkins, UK & Ireland managing director at Visa Europe, commented, “While August’s mixed weather didn’t put off family activities, it did create a 10 per cent surge in online spending at the same time. The end of summer online sales likely contributed too to a bumper month for online merchants.”

 

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Small Business Saturday gains momentum in the UK
 

Following Black Friday on 27 November, which is gaining increasing popularity in the UK, British businesses are being urged to get involved in Small Business Saturday. The event aims to encourage consumers to visit independent and smaller retailers on the first significant pre-Christmas shopping weekend of 2015.

This year, Small Business Saturday takes place on 5 December. “Although the campaign focuses on one day, the goal is to have a lasting impact on small businesses by changing mind-sets, so that people make it their mission to support small businesses all year round,” said National Campaign Director Michelle Ovens.

64 per cent of the UK were aware of the campaign last year, which is a huge opportunity for UK businesses to get involved.

 
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Thursday 10 September 2015

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