Did you know that the European Union (EU) stands as one of the world’s largest markets with 28 members and over 500 million consumers1? Imagine the number of new customers Malaysian SMEs can capture from this part of the world!
In fact, the 2017 Consumer Conditions Scoreboard from the European Commission has revealed that EU consumers show a growing demand for cross-border online shopping. In ten years, the European market for online shopping has nearly doubled from 29.7% in 2007 to 55% in 20172.
This means now is the perfect opportunity for SMEs to start shipping to Europe!
“One in four internet users in the EU shop online at least once a week.”3
Why SMEs Should Consider Shipping to the EU
- One in four internet users in the EU shop online at least once a week
- 50% of Europeans who shop online buy clothing and footwear, followed by books, music, DVDs, and video games
- One out of three Europeans who shop online buy tickets and electronics
- In the UK, one in three people who engage in e-commerce buy groceries online
- UK consumers are twice as likely to buy groceries online than the Dutch, Belgians, and French
- Nine out of ten Austrian and Irish and two out of three Italian, Spanish, and UK online shoppers have bought products online from abroad at least once
Europeans prioritise appealing offers over stock availability when purchasing items from abroad. On top of appealing offers, you will also need to build trust and confidence in customers by making sure your products get to them hassle-free and on time!