A new study commissioned by Royal Mail has found that 30 per cent of the UK’s SME online retailers don’t export goods overseas.
The research also found that one in four (23 per cent) don’t import any goods either.
However, despite the poor uptake in overseas sales, 64 per cent of SMEs questioned said they were aiming to increase international sales revenues in 2018.
The latest data from HM Revenue & Customs (HMRC) on UK exports and imports showed that the value of each respectively was £29.6 billion and £39.1 billion in December 2017.
A spokesperson for Royal Mail Parcels said: “The ecommerce sector is becoming increasingly globalised and SME online retailers especially should look at opportunities to expand the international side of their business.
“There are currently more than two billion internet users in 200 countries, with nearly 100 million of them in English speaking countries.
“It is a particularly good time for UK businesses to explore exporting options, given the current state of the pound. At Royal Mail, we already support many retail businesses and we look forward to working with even more of them in the future”.
The survey also found that eight in ten (78 per cent) UK SME online retailers sell their products via their own website, while 54 per cent sell on a marketplace.
Looking to the year ahead, more than half of those questioned planned to sell through new channels, with 15 per cent intending to list products on a marketplace, while 18 per cent will use additional marketplace sites.
Other findings from the Royal Mail’s recent SME studies include:
- 70 per cent of UK SME online retailers experienced an uplift in sales in 2017, compared to 2016
- The biggest concerns for retailers this year are the ability to make a profit (27 per cent), increase sales (26 per cent) and reduce costs (23 per cent)
- More than two thirds of retailers expect costs to be higher in 2018. The biggest costs expected are purchasing (34 per cent), logistics (32 per cent) and advertising (27 per cent)
- UK retailers sell the most to USA, France and Germany
If you are looking to expand your export network in the future speak to our Brexit Professionals.
