SMEs in major European online retail markets which have capitalised on international sales have grown to 61% in Spain and 64% in France. Moreover, 25% of the 1,200 business surveyed claimed that shipping and the associated costs are top barrier to selling abroad, ibtimes.co.uk reports.
20% of respondents indicated that customs and duties were the second concern to business. Conversely, free delivery is the most attractive driver for shoppers buying overseas, according to the survey conducted by Ipsos MORI on behalf of PayPal, the source cites.
UK SME international online sales are currently dominated by proximity markets from Europe, which account for 61% of total cross-border sales value. North America is UK`s second largest market, generating 20% of UK online sales, while Asia ranks as the third, with 6% of international sales.
In China the demand for UK goods is at its highest, with an estimated 21.9 million online shoppers purchasing from UK retailers in 2015. Nevertheless, 15% of UK`s online businesses sell to Chinese shoppers and, among those who sell internationally, a mere 5% list CNY as a currency option for payment.
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