Published: 22nd Jun 2016
The increasing importance of ecommerce to UK retail is bringing businesses towards a digital tipping point, according to a new report from Magic Circle firm Freshfields Bruckhaus Deringer.
It suggested that businesses that do not take advantage of satellite broadband connections to sell some of their goods online may be left behind by their more web-savvy counterparts.
Worryingly, around a third of FTSE 350 retailers remain overly reliant on the physical sales aspect of their business, reports Internet Retailing.
Adam Gallagher, a Freshfields restructuring and insolvency partner, warned that these businesses could be "particularly vulnerable to financial turmoil" in what is already a difficult market.
Online sales for FTSE 350 retailers have grown by 29 per cent in the last five years, while physical sales have remained relatively flat, underlining the role of online as a driver of growth.
IMRG and Capgemini recently revealed that £6.4 billion was spent online over the course of September.
Posted by Mark Wynn
Where would you like to go next?
Ready to buy?
Open Mon-Fri: 8:00am - 8:00pm, Sat: 10:00am - 4:00pm
Or request a call back by leaving your name and number.