New opportunities in multi-channel retailing are opening up overseas where
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- Business Owner’s Guide to Internationalisation: What Marks out the Companies That Succeed?
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- 1. BUSINESS OWNER’S GUIDE TO INTERNATIONALISATION: WHAT MARKS OUT THE COMPANIES THAT SUCCEED? New opportunities in multi-channel retailing are opening up overseas where forward-thinking ﬁrms are translating good ideas into bottom line growth. The internet is removing barriers to international sales, allowing multi-channel retailers of any size to sell to customers anywhere in the world. To manage growth, successful exporters invest in their internal systems and multi-channel software: UKTI (UK Trade & Investment) is helping ﬁrms sell more overseas: Want to live the multi-channel dream? Download How To Guide: Smaller Retailers Which Became Multi-Channel Success Stories SOURCES: http://www.ons.gov.uk/ons/rel/uktra.../monthly-review-of-external-trade-statistics- september-2012.html http://www.bbc.co.uk/news/uk-england-cambridgeshire-17370140 http://venturebeat.com/2012/07/26/amazon-online-shoppers-research/ http://www.mobilecommercedaily.com/...e-70-percent-of-the-mcommerce-market-panelist http://searchenginewatch.com/articl...g-Brands-Growing-Pages-Featured-More-in-SERPs http://www.ukti.gov.uk/export/item/403220.html http://opentoexport.com/article/ernst-youngs-guidance-for-export-success/ http://news.bbc.co.uk/1/shared/bsp/hi/pdfs/15_03_12experian.pdf http://www.ukti.gov.uk/export/item/403220.html http://www.ons.gov.uk/ons/rel/uktra.../monthly-review-of-external-trade-statistics- september-2012.html MARKETING Generating additional sales through targeted campaigns. STOCK CONTROL Avoiding missed sales opportunities by maintaining stock levels in real-time. WAREHOUSE OPERATIONS Cutting costs by processing orders faster and with lower error rates. CUSTOMER SERVICE integrated systems giving a single view across a multi-channel operation. Talking about exports, John Cridland, CBI Director-General, said: Looking for opportunities for growth? The world is a big marketplace and it's never been easier to sell your products globally. With increased competition in the UK, businesses of all sizes are now identifying growth opportunities in overseas markets. RISE IN TOTAL VALUE OF EXPORTS: AN INCREASE OF 21% 2009 2011 £103,226 MILLION £124,881 MILLION “To kick start growth, it’s vital more ﬁrms expand into fast-growing markets. We have made some inroads, but must take advantage of the wealth of business opportunities out there.” 30% OF ONLINE SHOPPERS RESEARCH AMAZON BEFORE BUYING EBAY AND AMAZON ACCOUNT FOR 70% OF THE MOBILE COMMERCE MARKET 3 OUT OF 4 OF THE TOP 100 BRANDS ARE ON GO0GLE+ Amazon eBay Social MediaTwitter, Linkedin, Google+ etc... Here’s what business owners need to consider before they move into export markets... Channels making it easy to market and sell internationally: Export for Growth 2012 Report Questions Successful Firms Answer Before Selling Overseas: * How will we overcome language and culture barriers? * Will our product need adapting for foreign markets? * How will we deliver the goods? * When will we get paid, and how? * Does our multi-channel system have the ﬂexibility and functionality required? Top 5 UK Export Markets (September 2012 ﬁgures) USA Germany Netherlands France Irish Republic £10,526m £7430m £6204m £5633m £4410m More than half of British businesses which work with UKTI achieve additional sales of £600k within two years. Firms which worked with UKTI grew annual sales by an average of 5.5%, and 90% of these ﬁrms were SMEs. Download Now Are more productive than non-exporters Are more resilient to economic downturn Counteract issues like seasonality Perform more strongly ﬁnancially Find exporting can drive product innovation Why go global? Chinese shoppers have surpassed shoppers in the United States as the world's top luxury good spenders. According to a survey of 4,600 consumers, Louis Vuitton, Chanel, and Gucci - all imports - are the top three brands. Source: Bain & Company Amazon is growing at three times the rate of e-commerce and is the world's fastest growing e-commerce channel. eBay is also breaking down barriers to selling internationally, and requires minimal investment. Leading retailers are using social media to communicate with their customers globally. In its Export for Growth 2012 report, UKTI found that companies selling internationally: Source: UKTI facts, quoted in the Language Wire eBook Retailer's guide to going global. "If you become an exporter, evidence shows that you are likely to improve your productivity by a third in your ﬁrst year alone." Mark Prisk, Minister of State for Business and Enterprise, quoted in the Language Wire eBook Retailer's guide to going global. www.sanderson.com 1 How to Guide: Smaller Retailers Which Became Multi-Channel Success Stories New Look, Apple, GO Outdoors and Dwell; they’ve all got something in common, and that’s a leading multi-channel strategy. www.sanderson.com www.sanderson.comView More