The UK government's business secretary, Vince Cable, today announced a raft of new measures to help global growth for the UK retail industry.
The UK Retail Industry – International Action Plan, which was launched after the UKTI had extensive consultation with some of the largest UK retailers, sets out a 2 year action plan has 7 points of focus to help drive international shopping.
One of the points being to help omni-channel retailers better access international markets, which aims to deliver £500m value to the UK economy through assisting up to 1,000 businesses with their international growth in the two years to March 2015. Essentially this means helping e-tailers to successfully sell more of their wares overseas.
According to the report Britain’s 228,000 online retailers export more than the rest of Europe’s e-retailers put together and UK consumers spend more online per head than any other country. the report has identified 8 areas of focus and there are huge opportunities to grow sales to international markets for retailers who use the internet, but who also, use more traditional routes to market. The report states:
"The multi-channel campaign will target large firms seeking to adapt their approach and get their e-commerce platforms adopted by consumers in key markets. It will also assist SMEs new to export who need to develop their online presence with advice and market development."
Other areas where the government will help exporters and retailers includes, a campaign to help luxury brands, a campaign to leverage the experience economy, campaign to help with market access, and a campaign to support market development and supply chains.
Business Secretary Vince Cable said:
"The UK's dominance in e-commerce puts retailers in a world-beating position to capitalise on the fast growing demand for British goods and luxury"
This is good news for companies who wish to increase their exposure to international markets and will help UK shops and service companies to increase their sales. From personal experience we know that there is good demand internationally for UK products and this initiative should help to increase this demand further.
The full report can be viewed here: International Action Plan