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Why does e-commerce matter?

The digital sector is one of the United Kingdoms (UK) most important sectors. It has a substantial economic value and has the potential to increase growth and innovation. The UK’s government has continued to improve policy and prepare legislation, that acknowledges the benefits of an open and thriving digital sector. In the UK’s non-financial sector e-commerce sales in 2018 were around £688 billion, which was a growth of 18% from the previous year and the greatest increase since comparable records began in 2014. The House of Lords’ 2018 report titled, ‘UK advertising in a digital age’ stated that digital advertising amounted to over half of all advertising for the first time in the UK in 2017.

In March 2017, the government published its policy paper, digital strategy in preparation for post-Brexit. The strategy paper aims to encourage future investment into the digital sector to assist the country in its position as a global hub for digital technology. Additionally, the Digital Economy Act 2017 received royal assent in April 2017. The legislation introduces a range of measures such as powers for UK regulators to introduce a statutory code.

Since the 2016 Brexit referendum the UK has continued to implement European Union (EU) directives into domestic law. However, the UK has signified that it intends to distance itself from the digital single market when it is no longer subject to EU law. This may create some uncertainty relating to legislation originating in the EU and it is unclear whether the UK will implement future EU directives. Although, the UK has advised that it will aim to prioritise continuity and stability to align itself with the EU’s E-Commerce Directive even in the event of a no-deal Brexit.

The Covid-19 pandemic has shut down highstreets, towns, and city’s forcing people to remain at home. With traditional methods of shopping for goods and services closed, consumers are moving their trade online increasing the value of the digital sector further. With uncertainty in the future ahead of us, it is more important than ever before to have an online presence as a business.

Operating online saves a business the running costs of a high street store and potentially increases its customers significantly as the whole world can be its audience, just look at Amazon for example. With the increased pool of customers, competition online can be fierce adding benefits to consumers such as value for money.

With all this in mind it is vital that your website looks right, provides the required information, documents, and policies. Failure to do so will lead to a lack of trust in the website which will ultimately decrease activity and sales for the business.

At Lawdit Stay Legal our packages will make sure your website looks right and has all the required information and documents which could increase trade. There is no need to worry about legal compliance when you let us keep your business on the right side of the law. We will also put legal safeguards in place to assist and protect you and your business if a dispute were to arise. With a free initial consultation there is no need to delay, so book today!

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