Congratulations to the individuals on Retail Week’s first Etail Power List. Bazaarvoice is excited to be part of the list’s inaugural edition, commending the leaders that are shaping the future of online retail in the UK.

We’ve seen tremendous growth in online retail in the UK over the past few years. More shoppers are buying online than ever before, and we’re thrilled to be partnered with so many great brands along this journey.

Consumers in the UK and Europe now account for a third of all global online sales, and retailers are starting to see a more significant proportion of their total revenues generated in the online channel. European consumers are predicted to spend £456bn in online and offline channels this year, and the lines between online and offline sales are blurring. At Bazaarvoice, we see mobile, social commerce, and social networks, including Facebook, as major accelerants to channel convergence. In light of these trends, I’m especially excited to see how the Etail Power List evolves over time.

It’s amazing to see how the landscape of ecommerce has changed in my own career. When my co-founder Brant Barton and I started Bazaarvoice five and a half years ago, only three major retailers offered customer reviews on their website. The common view was that customer opinions could only work for certain industry segments like consumer electronics and would never have mass business applicability for fashion, fast-moving consumer goods, and luxury. Time has proven these early critics wrong.

Today, 94% of shoppers who go online to research products are looking for reviews and peer opinions before they buy – regardless of the type of products they are shopping for.

Conversations are the future of online and offline retail, and, as such, we’re proud to partner with nearly 200 of the UK’s best retail brands. Word of mouth is nothing new – it’s simply becoming increasingly important and valuable for retailers around the globe. We’re extremely fortunate to be able to work with brands as they leverage customer conversations in new and remarkable ways.

Congratulations again to the members of Retail Week’s first annual Etail Power List. I look forward to tracking these leaders as they continue to innovate in online retail and build the future of ecommerce for the UK and the rest of the world.