Raft of measures unveiled to help COVID-hit retailers embrace export & e-commerce opportunities
The government has announced a series of measures specifically designed to help UK retailers use the power of e-commerce to open up their sales channels to overseas markets.
The new measures, unveiled by Exports Minister Graham Stuart MP on 8 September, will include a Consumer and Retail Export Academy, providing businesses with knowledge, skills and networks needed to increase exports.
According to the government, the raft of measures will offer immediate support to businesses by ensuring specialists provide advice on online retail and international marketplaces.
Minister for Exports, Graham Stuart MP said: “We recognise that Coronavirus has brought challenges to many industries, not least the consumer and retail sector, where so much depends on face-to-face interactions. This package of support will give businesses the helping hand they need to adapt their methods and thrive in the future.”
E-commerce will plan a central role in the new plans, says the government, with measures targeted to help retailers develop international, multi-channel, e-commerce strategies.
It comes as the retail landscape continues to see a shift online, with the value of retail sales made online having risen by more than 300 per cent in the last 10 years. The trend is predicted to continue as a result of the pandemic, which prompted – and sometimes forced – shoppers to embrace online shopping during the lockdown and beyond.
In particular, the government has outlined three initiatives designed to boost companies’ digital capabilities: International Clicks Fast Track Initiative, Omnichannel Optimiser Initiative, and Foreign Direct Investment (FDI) e-commerce marketing campaign.
The Clicks Fast Track Initiative will aim to increase retailers’ route to market by providing access to new Department for International Trade partnerships with business-to-business marketplaces.
Hoping to provide retailers with the advice and knowledge needed to develop an international multi-channel strategy to help them succeed online, the Omnichannel Optimiser Initiative will offer businesses with e-commerce related insights from industry experts via talks, virtual events, webinars and podcasts.
The FDI initiative will be a digitally-led marketing activity to showcase e-commerce inward investment opportunities to potential international investors.
“More trade and investment is absolutely critical if the industry – and our whole economy – is to overcome such challenges,” continued the Exports Minister.
“These measures provide both short and long-term support for businesses that employ so many people across the UK.”
The plan will also outline long-term support for the sector as new export opportunities arise from trade deals being negotiated with the US, Japan, New Zealand and Australia.
“As we continue to encourage businesses to increase their trade overseas, we will also ensure that they can take full advantage of the opportunities that will be unlocked through our negotiation of Free Trade Agreements with countries around the world,” he concluded.
Alongside the Consumer and Retail Export Academy and three digital initiatives, measures include a UK Export Finance offer, a digital investment prospectus, as well as a focus on promoting ‘Brand Britain’ at global events.https://thiis.co.uk/raft-of-measures-unveiled-to-help-covid-hit-retailers-embrace-export-e-commerce-opportunities/https://thiis.co.uk/wp-content/uploads/2020/02/Export-container-ship.jpghttps://thiis.co.uk/wp-content/uploads/2020/02/Export-container-ship-150x150.jpgGovernment & Local AuthoritiesInvestments & FundingNewsroomSector Newsdigital,ecommerce,export,Exports Minister Graham Stuart MP,Foreign Direct Investment (FDI) e-commerce marketing campaign,International Clicks Fast Track Initiative,Omnichannel Optimiser InitiativeThe government has announced a series of measures specifically designed to help UK retailers use the power of e-commerce to open up their sales channels to overseas markets. The new measures, unveiled by Exports Minister Graham Stuart MP on 8 September, will include a Consumer and Retail Export Academy, providing businesses with...Calvin BarnettCalvin Barnettcalvin@thiis.co.ukAdministratorTHIIS Magazine