More UK e-tailers than ever looking to expand internationally
More UK e-tailers than ever before are considering international expansion a key factor in their growth strategies, according to eCommerce experts Space 48.
Latest figures reveal that 25 per cent of Space 48’s customers are now planning a move abroad, compared to just 20 per cent in 2013. In addition, 70 per cent of the firm’s new business prospects now cite global growth in their expansion plans.
Experts are predicting that, while a lack of adequate online presence has led to brands traditionally struggling with international expansion, the spike in eCommerce websites now launching globally will provide UK businesses with never seen before opportunities.
Indeed, Santander’s recent business growth survey revealed the number of business owners looking to other countries to grow their business has doubled since 2013, with 6% of UK-based SMEs seeking the financial rewards that come with overseas trade.
Last year, Space 48 worked with luxury UK make-up brand Charlotte Tilbury to launch its eCommerce site in the US – a project which led to the brand surpassing the predicted sales in the first six months alone. The business has also recently launched an eCommerce function in Germany for UK bathroom specialists, Better Bathrooms.
Jon Woodall, managing director at Space 48, said: “Expanding into different countries is a great way to grow a business and can reap incredible financial rewards if executed correctly. Exporting is a key factor to the UK’s economic success and with all the emphasis UKTI, the Government and other leading bodies are putting on the issue currently, it’s something we’re only set to see become more prominent.
“However, launching an international website comes with its obstacles and a ‘one size fits all’ strategy when looking to enter multiple overseas markets simply isn’t feasible. Different regulations, customs, payment gateways and language barriers are just some of the complications which may have prevented companies from taking the leap in the past.
“Working with Charlotte Tilbury in the US and Better Bathrooms in Germany has enabled us to navigate these challenges first hand, so we’re more than equipped to help other businesses follow suit. Now is the ideal time to reap the rewards that can come with international expansion and we’re really excited to work with clients, existing and new, to help them make their move overseas.”