Britain is world No.1 for online retail export
In a global economy that has seen its share of failures and shock market closures, it is refreshing to see that Britain is leading the way in online retail export. The reason? We are beginning to maximise the market demand for UK goods internationally and businesses that seize this opportunity are getting greater results.
OC&S strategy in partnership with Google conducted the Global Retail E-mpire report, revealing that the retail sector is expanding as trade grows between countries at a massive rate. Indicating an increase in internet penetration and a rise in consumer confidence are resulting in a consumer marriage made in heaven.
As the internet continues to mature with faster speed and greater reach, consumers are becoming more educated and discerning about what, where and how to purchase. There is, without doubt, a high demand for UK products and brands as they are often associated with quality, trust and service. The UK is also a highly advanced e-commerce market, making it easy to conduct business.
Digital first – international marketing strategy
Peter Fitzgerald one of Google directors says “Looking to the future, any retailer wishing to enter the market must adopt a digital-first strategy to succeed”. Living in an age where bricks and mortar is no longer a requirement for a successful business a well-designed e-commerce website with a good product range that appeals to an international audience is a great start. But without doubt, international marketing is a critical factor to a business’s online success overseas.
As trade barriers come down across the globe, retail growth will continue to expand into international markets. It is refreshing to see the Oban mantra of localisation is reflected in these reports. As Anita Balchandani, Partner at OC&C states, “Localisation is crucial to tap into new pockets of demand, from tailoring the range on offer, to localised marketing activity, to ensuring that delivery and payment methods are best suited to country requirements”.
We could not agree more, Anita – and that is why Oban only works with businesses who understand these localisation factors – it’s more than just language. Understanding market nuances really does make the difference when selling at a local level.
While e-tail leads the way, there are many unsung UK business heroes operating internationally in the business-to-business space. UK entrepreneurs are selling knowledge, business services and software worldwide at an unprecedented rate. They make use of the advanced internet structure in the UK and become market leaders internationally instead of the often saturated and mature UK market space.
Photo courtesy of Asendia (www.asendia.com)