As continued growth in mobile commerce continued to fuel overall spend online, e-commerce sales are estimated to have risen by 20.1% in 2014 exceeding US$1.5 trillion for the first time globally, according to research by Rakuten, which also found that the retail customer experience has become a critical factor in customer loyalty.
With the rate of growth globally set to slow slightly in 2015, as the market matures, retailers are expected to see e-commerce sales rise by 17.7% to US$1.77 trillion, and 12.2% in the UK. As savvy retailers broaden their horizons to continue driving growth, next year will provide rich pickings for retailers that make the right moves and embrace cross-border commerce.
Consequently, Rakuten.co.uk's managing director Mike Bishop, has put forward several key predictions for how the global retail industry is likely to develop over the coming year:
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