international trade

64% of decision makers don’t see internet as key to foreign trade

Almost two-thirds (64%) of senior decision makers in large UK firms do not consider the internet to be in the top three most important channels for driving overseas trade.

This is despite the fact that the global e-commerce sector, projected to drive $1trn in global internet sales next year, continues to evolve rapidly.

The finding comes from Search Laboratory’s new Web Magnetism report, which interviewed 350 senior decision makers from UK companies with 200 employees or more.

It shows that around 85% of worldwide internet users buy goods and services online. Europe accounts for 35% of global online spending, which reached €550 billion in 2010.

The report asserts that in order to continue to grow profits businesses need to exploit the revenue opportunities afforded to them by global e-commerce.

This is backed up by statistics from our recent report, The Internationalisation of E-commerce: A Best Practice Guide.