NEWS: Businesses not taking full advantage of digital markets
UK companies are failing to capitalise on potential revenue streams in digital markets, according to a study by Search Laboratory.
The research revealed that 62 per cent of businesses feel they overlook opportunities in the global ecommerce market.
In addition, 67 per cent of respondents only use English when trading internationally, with only 33 per cent of those trading digitally abroad doing so in the local language.
The study indicates that companies understand the importance of online offerings to international growth, with 83 per cent recognising the positive impact of ecommerce in overseas markets.
To facilitate this growth, 47 per cent of business owners said they were keen to expand their company web pages to include site localisation over the next two years.
Ian Harris, CEO at Search Laboratory, said: “If businesses are going to truly take hold of the huge opportunities available in the global ecommerce market, they’re going to have to treat their international offerings with as much care and attention as they do their UK business. It’s not enough to roughly translate a clone of your UK site – you need to research your audience’s differences and tailor it specifically to them."