Britain is a world leader when it comes to shopping online, exceeding the US in the realm of digital retail, according to industry titan, Eric Schmidt.

Schmidt is currently the executive chairman of Alphabet, the recently formed organisation that acts as the parent company of Google. And he said that the UK could provide the ideal environment in which the world’s next big tech giant may arise, BBC News reports.

One of the only obstacles standing in the way of entrepreneurs in the UK is the fact that they are more likely to sell their fledgling start-ups sooner than their American counterparts, which means foreign ownership comes quickly and outside elements benefit.

When it comes to the strong position in which Britain finds itself on the e-commerce scene, Schmidt pointed to a mixture of regulatory benefits and continental clout within the EU as being at the core of why good things are just around the corner for emerging retailers.

Schmidt also said that Europe was on its way to becoming a single market in the digital realm, with more people carrying out safe shopping online across national borders than ever before and a lot of this cash flowing into the UK as a result.

When it comes to start-ups getting their foot in the door, Schmidt said that the current e-commerce market is particularly fertile because companies no longer need to spend large sums to raise the profile of their brands, thanks to the power of social media.

British consumers are some of the most tech-savvy on the planet, embracing online shopping and the gadgets which facilitate it in greater numbers than almost anywhere else. So it is reassuring to see a leading light in this area give recognition of this fact.