7 Reasons Your eCommerce Business Should sell in the UK 2023
With globalisation and international trade continuing to flourish in today’s markets, eCommerce businesses should look to sell their products in any market which will boost their sales. The UK market and consumers are more open than ever to purchasing products from overseas.
With eCommerce businesses and online marketplaces currently supplying consumers with a wider range of quality products than ever before, this has developed an increased demand for international products. This has also been assisted by the improvement in eCommerce businesses and marketplaces being able to facilitate international payment and shipping options, and with this has become an increased take up in cross-border purchases as customers feel more comfortable buying from international brands. The UK market is no exception to this with over 65% of UK consumers purchasing internationally online, and 15% of UK shoppers buy from overseas every day.
If you’re an eCommerce business and looking to expand your business’s consumer market and sell into the UK, here are the 7 reasons you should consider it.
1. UK is a booming eCommerce Market & is Set To Grow
The UK is becoming a dominant eCommerce market, with around 85% all UK households making eCommerce purchases, as well as in 2022 over a third of all UK retail sales were made through eCommerce. The eCommerce market is continuing to grow and is believed the UK’s eCommerce market will grow and establish itself even more, with a projected average online revenue of the average person reaching over £1400 by 2025.
2. UK Consumers are purchasing from International Brands
Online UK consumers have shown that 55% are open to purchasing products from overseas, and is only looking to increase. This shift in consumer behaviour is being driven by a number of factors from diverse product offerings, which may not be on the domestic market, to changes in perception of quality and status, along with general globalisation and the growth of social media. This linked with eCommerce businesses and brands offering wide varieties of shipping and courier services, like UK Fulfilment, have driven UK consumers to be more comfortable buying international brands than ever before.
3. UK Consumers have elevated scrolling times on Shopping Applications
The UK population has a high daily screen time, of just under 4 hours every day. This amounts to UK consumers spending around 85 billion hours on shopping apps annually, which had obviously led to the increase in take up of social media presence by online businesses and brands, in order to get their products in front of the eyes of their consumers.
4. UK Customer Conversion Rates Remain High
The UK has a high customer conversion rate, which is high in a global context, surpassing most of the other European markets. This means it looks hopeful for international eCommerce businesses and brands to have success selling in UK eCommerce market as shoppers are most certainly likely to make purchases.
5. UK Consumers are Purchasing more through their Mobiles
UK consumers are indeed showing a trend of purchasing through their mobile devices. The rise of smartphones and the increasing ease of mobile transactions through apps and mobile-friendly websites have contributed to this trend. Mobile commerce, also known as m-commerce, has been on the rise globally, and the UK is no exception. Consumers shopping on their mobiles has been key to international brands gaining stability with the UK eCommerce market. The desire for consumers to purchase their products and goods through their phones is only going to increase, and the predicted value of mobile transactions is said to reach a hundred billion by 2025.
6. Amazon is the UK’s Largest Online Marketplace
Amazon is the UK’s largest online marketplace, with approximately 90% of all UK shoppers using Amazon monthly. If you’re an international business looking to sell to UK customers, Amazon may be just the ticket to access this lucrative market.
7. Shoppers in the UK value customer experience
As UK consumers have become more connected to the eCommerce market, trends and opinions on brands can change quickly. For any international brand looking to set up or sell to UK customers, obtaining positive reviews should be made a priority and is crucial to success. That being said if your eCommerce business and brand does this well, it should see a dramatic uplift in sales if it moves into the UK market.
If your eCommerce business or brand is looking at selling into the UK, fulfilling your products in the UK can offer several advantages for your business:
Giving your Brand access to a large consumer market
The UK has a significant population and a strong economy, providing access to a large and diverse consumer base. By fulfilling products locally, you can cater to the needs of this market efficiently and potentially expand your customer reach.
Reducing shipping times and costs
Fulfilling products in the UK means shorter shipping distances and reduced shipping times to customers within the country. This can lead to faster delivery, which is often appreciated by customers and can enhance their overall shopping experience. Additionally, shipping costs may be lower compared to international shipping, saving you costs and making your products more attractive to customers.
Compliance with local regulations
Fulfilling products in the UK, you ensure that your business complies with all relevant local regulations, safety standards, and import/export laws. This can help you avoid potential legal issues and build trust with customers who value products that meet their country's standards. If you need assistance with obtaining a VAT number, fulfilment companies like UK Fulfilment can aid you in applying for one.