International expansion crucial for online trade, say UK and EU retailers

Half of UK and EU retailers say that managing international expansion is the most important element for trading online over the next 12 months, according to research by Mollie.

A study by the payment service provider, based on responses from 2,500 UK and European retailers, also found that 36 per cent of retailers are looking at improving logistics and shipment methods to help grow online revenue in the next year.

43 per cent of retailers cited the high cost of shipping as a major challenge, while nearly half of retailers (48 per cent) said that projected delivery dates were the top reason for abandoned carts with consumers being put-off by long dispatch and arrival times.

A further 43 per cent said that unexpected or additional charges like delivery fees was the main reason for abandoned carts.

59 per cent said over-reliance on third parties for shipment was a key factor hindering growth.

“The last year has made operations more difficult for any small-mid sized merchant and post-Brexit challenges are making it even harder,” said Josh Guthrie, head of UK at Mollie. “However, many are looking to improve their logistical capabilities and evaluating how they’ll expand in this new environment. There will be some bumps in the road, but with a greater focus on e-commerce, small businesses will continue to grow.”

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