Online Economy Worth £100 billion To The UK

The video discusses the emergence of a new online marketplace for unique gifts, highlighting its rapid growth and future ambitions. It examines the significant economic impact of the Internet, contributing £100 billion to the UK economy, with half from online shopping. The report suggests that the Internet's growth could surpass traditional industries like construction. Despite online shopping being less than 10% of total retail, the trend is shifting towards more online transactions. The video concludes by predicting a future where online and physical retail coexist, emphasizing the Internet's role in economic growth.

What is the main focus of the new online marketplace discussed in the video?

• Selling electronics

• Bringing together small creative businesses

• Offering travel services

• Providing financial advice

According to the report, how much did the Internet contribute to the UK economy last year?

• £50 billion

• £150 billion

• £200 billion

• £100 billion

Which industry does the Internet's contribution to the UK economy surpass?

• Education

• Healthcare

• Construction

• Agriculture

What percentage of total retail sales does online shopping currently represent in the UK?

• Less than 15%

• Less than 10%

• Less than 20%

• Less than 5%

During the Great Recession, how much faster did businesses using the Internet grow compared to those that didn't?

• 2 to 3 times faster

• 4 to 5 times faster

• 7 to 8 times faster

• 10 to 12 times faster