The Covid-19 pandemic has changed the way we shop, fast-tracking a trend that was already growing rapidly. Combined with increasing global smartphone adoption, social media penetration and emerging technologies, this surge in online shopping has created a world of opportunity for SME retailers to tap into.
As well as opening up new markets, cross-border expansion is a great way to gain competitive advantage. According to Oxford Economics, one third of SMEs now generate over 20% of revenue internationally, with this figure expecting to rise to nearly half (47%) in three years. So, if you’re not currently trading internationally, or have no plans to, you could be missing out.
However, with the pandemic and Brexit causing confusion, logistical issues, and shipping delays – it’s easy to see why some retailers might feel cautious about taking the step to sell their products on an international scale.
To help prepare retailers for cross-border expansion, we’ve compiled a handy guide: Growing Globally. Within the guide, we’ll walk you through the key things you’ll need to consider before looking into cross-border expansion, plus our top tips to help you get started on your ambitious growth plans.