56 percent of small online retailers in the UK look to launch in new markets this year

British small online retailers are setting their sights on foreign markets, with a whopping 56 percent of them looking to open in new markets this year.

The Royal Mail's annual tracker study unveils that, amongst those small and medium sized e-tailers looking for pastures new, 48 percent are looking to the Eurozone, up from 30 percent last year.

But some are looking even further afield with 30 percent eyeing up the USA, 23 percent Australia (up from just 5 percent last year) and 26 percent looking to Asia (up from 12 percent last year), highlights ‘BizReport’.

Richard Snowdon, international director at Royal Mail says the research shows "there is a huge appetite for exporting among UK small businesses". However, 40 percent of small businesses surveyed said they were deterred from entering into exports due to a lack of knowledge and 23 percent cited complex shipping as a barrier.

In this vein, Craig Reed, vice president of global e-commerce at Pitney Bowes, explains that "Retailers looking to expand their businesses online to international markets should consider the unique mindsets and shopping preferences of consumers in each country.”

"In addition, it's critical for retailers to provide buyers with clarity and accuracy in the online buying process, certainty and transparency in delivery, and competitive pricing. Once these barriers to consumer confidence are overcome, the opportunities and appetite for buying goods outside their own country can increase dramatically," further adds Reed, commenting the Royal Mail’s study for ‘BizReport’.