Will A Weak Pound and Rising Rates Send More Savvy Shoppers Online?

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Shopping Online

Online retail continues to enjoy double-digit growth, with January sales reportedly seeing a 12 percent year-on-year increase. In other good news, the average basket value for online retail is also on the rise with a typical shopper checking out with £85 worth of goods compared with £79 last year.

But online retailers cannot afford to be complacent. Rising costs, largely attributed to the weak value of the pound following Brexit, are already impacting on a number of eCommerce categories. Big ticket items like household electricals have seen a year-on-year decline of more than 8 percent. With leading brands like Apple, Microsoft and Sonos recently announcing price hikes of up to 20 percent, consumers and retailers will undoubtedly continue to feel the squeeze.

Away from the pure play world of online retail, bricks and mortar and traditional retailers face even more pressure with the threat of rising high street rates putting an incredible strain on margins and profits.

Retail guru, Mary Portas recently told journalists that the nation’s high street’s risked being “destroyed” by rate increases of up to 245 percent. In situations like this, it has never been more important to look towards new opportunities.

Turning Threats into Opportunities

The threat of rising costs will change consumers’ behaviour and where there is any change there is also an opportunity. As savvy shoppers get increasingly savvy, online shopping destinations like Flubit.com which offer shoppers substantial discounts become increasingly more attractive.

While Flubit.com helps shoppers save an average of 12 percent on their branded Amazon shop, its unique business model (which doesn’t charge any set-up, listing or final value fees) ensures retailers retain control of their costs and profits. It’s this “win-win” approach to retail that has helped Flubit grow to become the UK’s most popular independent online marketplace (and third only to eBay and Amazon) in little more than five years.

Another Win

If you are already using a multi-channel retail solution like ChannelAdvisor, Volo, SellerExpress or Linnworks, the opportunity to add your products to Flubit.com is just a couple of clicks away.

But the opportunity doesn’t end with Flubit.com.

Powered by SKU Cloud

Flubit.com is powered by SKU Cloud which opens up numerous opportunities to sell across a wide range of exclusive sales platforms, including major newspaper sites, affiliate networks and other high traffic online destinations (all with the same attractive zero fee business model).

To learn more about how Flubit.com and SKU Cloud can help you reach an increasingly savvy audience while protecting your margins and driving profits visit: https://sellers.skucloud.co.uk/

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