By Tristan Phillips
A new study from OC&C Strategy Consultants, working in tandem with Google has revealed that UK retailer’s potential overseas online revenues will hit £28bn in 2020, an incredible seven-fold increase on the £4bn earned in 2012.
As Anita Balchandani, partner at OC&C, said: “E-commerce has transformed what was once a game anchored in local markets – with retailers choosing to expand internationally when they reached saturation nationally – into one where they can pursue internationalisation at the same time as domestic expansion.” but most companies have no experience of expanding into new markets and will face substantial barriers including the perils of bad multilingual translation and online marketing, the bureaucracy and red tape of local Customs and Logistics.
Breaking down these barriers is crucial for true international growth; the projected figures below underline how important this is.
● International online sales will grow three times faster than domestic sales, rising to 40% of all UK online sales by 2020.
● Western European sales will rise to £9.8bn in 2020 from £1.5bn in 2012.
● Online sales in North America will hit £2.7bn in 2020, up from £0.8bn in 2012.
● Growth opportunities in Central and Eastern Europe (£6.9bn by 2020, up from £400m in 2012).
● Asia’s growth potential (£4.5bn in 2020, up from £400m in 2012).
● The number of people searching from outside the UK for British brands – including Asos, Burberry, Jimmy Choo, Net-A-Porter, and Wiggle – has been growing by an average of 46%.
Are you ready for Global Ecommerce?
Tristan Phillips is the Director of Trade 196, a company specialising in global ecommerce services.
Trade 196 works with ecommerce companies, helping them expand to new countries through international ecommerce strategies, as well as web design and marketing, advice on logistics, legislation and multilingual customer care.
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