Alibaba: exports to be a key driver for pet industry growth in the UK
We dive into the details of new research by the Chinese e-commerce giant that also reveals which markets have more potential.
Nearly 9 out of 10 respondents said their companies are currently exporting products. Over two-thirds (67%) expect export sales to increase in the next year.
Around 83% of industry insiders said their companies focused on international growth and used online marketplaces as a tool to boost export sales. Since the start of the pandemic, 4 out of 10 began working with marketplaces to boost digital sales.
For 77% of pet businesses, export has been one of the main drivers of their digital transformation.
The research was carried out in partnership with the Institute of Export and International Trade to more than 3,000 pet businesses.
Which markets have bigger opportunities?
The European Union is considered by British pet businesses as the market with more export opportunities in the future (38%), followed by China (36%) and North America (32%).
However, businesses identify certain export barriers as well. These are political uncertainty (33%), logistics and supply chain issues (26%), trademark registration and IP protection (23%), security concerns (23%), and the struggle to find a trusted export partner (23%).
Benefits of exporting
The research concluded that on top of the economic benefits, exporting makes businesses more resilient.
Supporting this, 84% of respondents agreed that exporting strengthened their companies, 79% witnessed a fueled innovation, and 77% grew in headcount.
For 65% of pet businesses, exporting their products has relieved pressure from having to do business only in the UK.
“Once a business starts to export, they realize the benefits outweigh the perceived barriers, and they grow in confidence,” said Mim Figueiredo, Business Development for Pet Brands at Tmall Global, Alibaba Group in Europe.
Share this story:
