07.01.2015

Royal Mail Study Reveals Growth Strategies For New Year

SME online retailers in the UK will increase their usage of digital marketplaces like eBay and Amazon to drive growth in the year to come, according to the latest SME tracker study by Royal Mail.
 
Some 63% of SME online retailers plan to trade through a greater number of channels in 2015 to increase their sales, with one in four expecting to begin using online marketplaces.
 
The study suggested SMEs are full of optimism for the new year, in spite of increased competition - growth expectation index is up 9% compared with last year, while three-quarters of retailers think competition is now more intense.
 
The research also found delivery when expected is now the greatest factor driving customer satisfaction - even ahead of the price of goods or the quality of the product.
 
Nick Landon, Managing Director of Royal Mail Parcels, said: "UK SME online retailers are thinking carefully about how they can develop their businesses during 2015 … Simplifying the returns process for customers is also a key area of focus for many online retailers in the year ahead."

Expert Opinion

A New Year often means many small businesses are considering how they can take the next step across the coming 12 months by developing their offerings and expanding their operations. <br/> <br/>"During planning and preparation, it is vital that they fully investigate all avenues and approaches which could help them enjoy further success, with online platforms such as digital marketplaces being a quality channel for them to benefit from. <br/> <br/>"For many firms, online platforms often level the playing field and allow them to actively compete and take on the larger competitors which operate in the same space as them. SMEs should carefully consider this and also ensure they seek advice from legal experts on the key regulatory issues they need to bear in mind when taking a step into this area." Steven Beahan - Partner