Two-thirds (65 per cent) of UK SME online retailers are aiming to increase international sales in 2015. This is up two-thirds on a year ago, when just four in ten (39 per cent) said they were planning to increase overseas sales in 2014.
The study – Royal Mail’s annual tracker study – found that UK SME online retailers are in positive mood for the year ahead with seven in ten businesses expecting overall sales to increase.
The optimism for growth – which is up nine percentage points on last year – is despite 76 per cent of SME online retailers saying competition is more intense than a year ago.
“Our annual tracker study of UK SME online retailers shows that there is growing confidence that they can grow international sales,” says Nick Landon, MD of Royal Mail Parcels.
“There is a marked increase in the percentage of UK SME online retailers aiming to grow international sales in 2015, compared with 2014. The study found that UK SME online retailers believe there is strong potential in the USA, which has overtaken Europe as the top target for businesses looking for new international markets.”
Looking at markets, the USA has overtaken Europe as the top target for online retailers looking for new international markets. This suggests UK SME online retailers believe there are greater opportunities in the USA.
The US economy is forecast to grow at 3.6 per cent in 2015 compared to just 1.2 per cent in the Eurozone. Meanwhile, the dollar has strengthened while the Euro has weakened, meaning Sterling is more competitive in the US than Europe.
Four in ten (39 per cent) SMEs surveyed said they would be targeting the USA, up from 23 per cent a year ago. Meanwhile, 30 per cent said they would target European countries.
Canada ranked third in new international target markets for UK online retailers. Despite the falling value of the Rouble, 15 per cent of SMEs said they would target Russia this year. Last year only 9 per cent said Russia would be a new target market in the year ahead.
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
