Retail gap between where they want to be and where they are
There’s a clear ambition for retailers to want to grow international sales significantly – the research shows 76% of UK retailers expect to increase international revenue over the next few years. But they’re failing with the majority of retailers driving revenue from within the EU – currently a high-risk region for trade growth and opportunities. At best, 1 in 3 retailers can attribute 10 percent of revenue to international business. With just a tiny proportion of British retailers (3 percent) solely attributing 100 percent of their revenue from international business outside the EU. However, when carrier management and delivery is localised, everything changes. In the years 2015 to 2017, GFS recorded a 638 percent increase in the number of international parcel deliveries to the US within its customer base.
There’s a significant gap between where online retailers say they want to be and where they are. While online retailers know that a breadth of choice at the checkout impacts sales conversion – in fact, 98 percent of respondents state it’s important to critical to offer customers a broad choice of delivery options in order to reduce cart abandonment rates. Yet, only one in 10 retailers surveyed have more than five delivery options. In fact, the number one reason online retailers gave for not offering a greater choice of delivery at checkout is the time and effort it takes to manage multiple carriers and integrate them into their IT systems.