86% UK pet retailers claim exporting boosts business
The research revealed that over two-thirds (67%) of these business owners surveyed anticipate their export sales increasing in the next 12 months
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Some 86% of pet retailers have claimed that exporting has increased their revenue and made their businesses stronger, according to new research released from the Alibaba Group UK.
The study of more than 3,000 pet businesses across the UK in partnership with the Institute of Export and International Trade found that 89% of businesses in the pet sector are currently exporting.
The research revealed that over two-thirds (67%) of these business owners surveyed anticipate their export sales increasing in the next 12 months.
Additionally, 79% of respondents said exporting had “fuelled innovation” within their companies and 77% of them said that it helped them increase their headcount as a result.
The report also stated that nearly two-fifths (38%) regard the UK’s nearest neighbours in the European Union (EU) as the market with the “biggest” export opportunity, including China (36%) and North America (32%).
However, despite the positive outlook, many pet businesses perceive challenges such as political uncertainty (33%), supply chain and logistical issues (26%), trademark registration and IP protection (23%), security concerns (23%) and struggling to find a trusted export partner (23%), as standing in the way of their export ambitions.
The report highlighted that 83% of those surveyed are currently using online marketplaces to boost their export sales.
Mim Figueiredo, business development for pet brands at Tmall Global, Alibaba Group in Europe, said: “Our research suggests that companies in the pet sector are seizing the enormous global export opportunities that exist across the world.
“By trading overseas, even small businesses can expand, creating more job opportunities and economic growth. Once a business starts to export, they realise the benefits outweigh the perceived barriers and they grow in confidence. We’re focused on helping businesses of all sizes on their export journey.”
Marco Forgione, director general of the Institute of Export and International Trade, added: “This research confirms what we have long known—that exporting firms are more sustainable, profitable and resilient—but also sheds light on some of the many challenges that prevent businesses from exporting at all or exporting as much as they could.”
