Volo say Europe dominates UK online exports
Volo Commerce have warned of the dangers of the UK possibly 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 export accounts for almost 20% of the developing online retail economy in the UK. Figures from the online multichannel 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 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.
Whilst the merits of staying in the EU or leaving have already been discussed to death, it’ll be some time before the country gets their say in the promised referendum some time by 2017. Even with a vote to quit the EU, it would likely be some time before the country extricated itself.
What are you thought – will you vote in or out, and how do you think leaving the EU might affect your business?