Amazon has ranked as the fifth biggest player in UK retail, according to the latest from GlobalData who highlights that over £4 in every £100 was spent on the platform throughout 2017.
The data and analytics company has stated that the online pureplay continues to outstrip growth in the UK online channel with retail revenue estimated to have risen by 22.5 per cent in 2017, in comparison to total online spend rising 8.4 per cent.
‘The company is not only stealing share from its UK competitors but is forecast to have accounted for 33.5 per cent of all UK spend online in 2017, versus 29.6 per cent in 2016.
Sofie Willmott, senior retail analyst at GlobalData, said: “Amazon is soaring up the ranks of UK retail with the online behemoth only held off the top spot by the big four grocers in 2017.
“Its dominance in the retail market considering it primarily sells non-essential items in comparison to the grocers who benefit from selling indispensable, everyday goods, and that it does not have any physical stores in the UK, is evidence of how Amazon has continually innovated and succeeded in meeting consumer needs, in terms of both product range and shopping experience.”
Given Amazon’s performance and the limited growth ofrecast in retail spend over the next five years, it is no surprise that retailers are eager to get on board and ramp up their online sales in an attempt to drive incremental sales via new sales channels.
Willmott added: “It is imperative that retailers continue to give shoppers a reason to visit and purchase from their own sites, such as exclusive products or loyalty rewards, to maximise profits and consolidate their place in the market.”