London is one of the world’s most powerful economic areas, and is one of the world’s leading financial centres for international business. Britain’s most populous region, urban zone and metropolitan area, London plays a crucial role in the supply chain between manufacturers and the consumers.
According to statistics, the economy of London is significantly larger than the economy of the UK collectively. In 2022, London’s GDP was £508 billion, whilst the UK overall produced £2.46 trillion. This indicates that London accounts for a significant proportion of the UK’s GDP, at around 20%.
Similarly, the London economy is considered to be more productive than the UK economy as a wholesale. In 2022, London’s GVA per capita was £57,600 per capita, where as the UK’s GVA per capita was £38,200. The indicates than London’s economy is around 50% more productive than the UK economy collectively.
According to Statista, there were approximately 5,860 convenience stores in London. The most densely populated area of the UK, the London convenience store sector is uniquely competitive but also prosperous, provided a convenience and accessible shopping solution for residents and tourists alike.
Convenience stores are also a significant contributor to employment, employing over 50,000 people in London.
Pound Wholesale, as a leading UK wholesaler and distributor, regularly dispatches significant quantities of stock to all types of London’s thriving businesses, from discount stores, convenience shops and department stores to professional services, online traders and local enterprises.
What Pound Wholesale’s Data Says about London
London is the most popular region for Pound Wholesale, dispatching an array of orders to the capital on a daily basis. Despite a high number of orders shipped to Birmingham, Manchester, Edinburgh, Glasgow, Ireland, Northern Ireland and beyond, London’s vibrant businesses are the recipients of more Pound Wholesale deliveries than any other!
The table below illustrates the percentage of overall annual orders that are dispatched to London. As the chart indicates, London accounts for a significant proportion of our overall order destinations, backing up the general statistics that demonstrate the importance of London in the overall UK economy.
The percentage of Pound Wholesale’s annual orders to London has never dipped below 30%, further emphasising the popularity of London businesses in our customer base.
Looking at the chart below which illustrates London Pound Wholesale customers by customer type, it’s clear that retailers lead the way.
Pound Shops and Convenience Stores lead the way when it comes to physical, brick-and-mortar retail shops. However, eBay & Amazon sellers account for a significant proportion of London businesses, along with the online retailers.
Launching your business in London with Pound Wholesale
As one of the world’s most visited and cosmopolitan cities, there are many advantages to launching your business in London. With a population of over eight million, there’s a huge pool of talent for retailers and businesses to target, with a thriving startup scene and access to markets all over the globe.
A reliable supplier like Pound Wholesale offers aspirational London enterprises starting their business the opportunity to purchase stock in bulk for low prices and have items delivered directly to your doorstep. With over 7,000 product to choose from, Pound Wholesale’s reliable and timely processes ensure convenience shops, online retailers, specialist businesses and professional services are able to get the stock they need to offer fantastic value and services to their customers.
Despite the excellent prospects available to new London enterprises, there are numerous factors to consider, such as the high cost of living, doing business and operating in an overall competitive landscape.
Before launching a London business, it’s imperative that enterprises conduct the necessary research to understand your target audience in London and beyond. This includes time spent researching competition, the regulatory environment and the economic outlook.
Businesses starting up in London may need to gain the necessary permits and licenses. Depending on the type of business you’re starting, you may require licenses such as a business license, food premises license, personal service establishment license, liquor license or building permit. There are also more specific permits and licenses which you also may need to obtain, depending on your business type.