Enterprise execs ignoring global online channel at their peril

Channel NewsRetail

Report claims trading domestically is far from enough

A UK-wide survey suggests that an alarming amount of enterprise executives are totally ignoring the internet as a way to generate commerce.

The survey, which polled 350 decision makers in UK enterprises of over 200 employees each, concluded that 64 percent of those surveyed don’t consider the internet to be an important channel for driving overseas trade. Not just that, but the internet did not even factor into the top three channels. This is despite many UK enterprises leaning on foreign trade, especially since the world began eating itself in 2008.

Respondents should look to the evidence, according to Search Laboratory, which funded the research. A Goldman Sachs report stated that e-commerce should bring in $1 trillion in global sales next year, while some British firms are leading the charge in successful e-tailing – for example, fashion outlet ASOS.

The company’s full report is available to download here (PDF). It stresses the importance of companies who have relied on domestic territories to expand globally – although that will offer “significant challenges”, including a robust board of directors and keeping a close eye on the number crunching.

Search Laboratory CEO Ian Harris commented: “Looking at British successes online only reinforces the damage being inflicted on our economy by the enterprise sector’s lack of action – senior executives need to open their eyes to online overseas trade while they still have the chance”.

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