Community of online multi channel sellers warns of impact of leaving EU and the importance of online exports
London, UK, 6 July 2015: eCommerce specialists Volo today warned of the dangers of the UK leaving the EU as it launched a report that reveals major Western European markets make up over 50% of the export destinations for online entrepreneurs.
As part of the Volo Online Retail Export Index, the figures show that online exports account for almost 20% of the developing online retail economy in the UK. Figures from the multi channel ecommerce specialist reveal that France and Germany alone constitute 40% of the exports for UK-based online retail SMEs.
Both Germany and France dwarf exports to the United States, with Italy and Spain also important, growing European markets. Other, non-European countries within the top 10 export destinations including Australia and Canada.
“The online, multi channel entrepreneurs of UK plc are clearly making real progress in developing Europe as an export market,” said Paul Watson, CEO, Volo. “It is often tempting to see the U.S as the big market to crack, but our figures show that the trading relationship with Europe is as critical for the new generation of online entrepreneurs as it has been for older retail businesses. Export is a critical part of the thriving and rapidly developing online retail sector in the UK and much of this growth and success depends on the UK staying within the EU.”
“Online retail has caught up to the balance of the rest of the UK economy in record time. Europe accounts for 50% of all UK exports of goods and it is very impressive that the online community has achieved this figure in such a short period of time.”
The index also shows which markets across Europe are most lucrative: by comparing the number of parcels to the value of the market, the report indicates that Belgium, Sweden and Ireland are those countries that have the highest average value per parcel.
“Our index will track not only the growth of the European ecommerce market overall but also those markets that may be the best option to increase the value of the exports themselves,” continued Watson. “We are committed to helping online businesses take off and we hope this information will help open up new markets to UK online entrepreneurs.”