Opening to the UK Market in the E-Commerce Sector is not as Difficult and Detailed as You Think!
Recently, I have witnessed that many brands in Turkey want to do an e-export. Considering the economy and exchange rate differences, the most logical method would be to expand abroad. And if you are a brand that already sells products, you should definitely open up to the foreign market.
As far as I have observed, the starting point of the brands is generally either Germany or the German market is targeted. I saw that brands in Turkey have some concerns about opening up to the UK market. In order to eliminate these concerns, I wanted to share a few data.
According to statistics, the UK was the fourth largest market for e-commerce with revenues of US$118 billion in 2021, placing the UK ahead of Germany and behind Japan in the rankings of China, America, Japan, and the United States. The kingdom continues. Being the 4th biggest market makes the UK even more important.
A few items are the benefits of opening up to the UK Market;
- In accordance with the e-commerce agreement with Turkey, you can bring your products to the UK market and sell them without paying customs duty.
- It is the 4th largest market in e-commerce.
- The UK e-commerce market increased by 12%, contributing to the worldwide growth rate of 29% in 2021.
- In 2020, 87% of people in the UK have shopped online in the last 12 months, making it the highest online purchase penetration rate in the country in the last 11 years.
(These figures are Statista data) If we look at the data above, the UK market is a very important market for e-commerce.
If you want to sell your products in the UK, we recommend opening a company first. The majority of users who buy products online prefer PayPal as a payment channel. The absence of PayPal in Turkey complicates this situation. Therefore, it will be to your advantage to open a company in the UK.
And by making a deal with a company that provides Fulfillment service in the UK and storing your products here, your cargo will reach the user faster. One of the most important factors in online shopping is fast shipping.
If you want to know more about this, you can contact us.
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