Half of UK’s small online businesses not currently exporting
Despite demand for UK goods being highest from China, just 15% of UK online retailers sell to Chinese consumers
Nearly half (44%) of the UK’s small online businesses are missing out on lucrative international export opportunities despite high demand for UK goods, according to research from PayPal.
Currently, European countries account for 61% of total export sales among UK online businesses, with North America coming in second at 20% and Asia third with 6% of international sales.
This is despite demand for UK goods being highest from Chinese consumers – among the 29 countries studied – with an estimated 21.9 million Chinese shoppers buying UK goods online in 2015.
Just 15% of UK online retailers who do export currently sell to China, with just 5% listing Yuan as a currency option for payment.
Simon Moran, senior director of strategic client services, PayPal UK, commented: “The UK is more popular than ever as a destination for online shoppers worldwide and 2015 proved to be a real tipping point.
“Simple changes to your online store such as accepting multiple currencies, offering different languages, and keeping shipping costs low can have an immediate impact on sales.”