A new survey found 70% of health and beauty retailers believe cross-border trading will be of greater importance in the future
A new study has found international e-commerce could be a lifeline to health and beauty retailers forced to close during the pandemic.
More than two-thirds of UK health and beauty retailers said cross-border trading will be of greater importance in the future, reported Global-e’s findings, as the country grapples with the coronavirus pandemic.
Many have been reaping the rewards of buyers abroad throughout the pandemic, with almost half of health and beauty sellers having reported a surge in international sales.
Last week, the UK's Prime Minister Boris Johnson announced non-essential retailers would have to close for a minimum four week period from tomorrow.
“Indeed, with the surge we’ve seen in cross-border e-commerce trading this year, it is clear that it is a vital opportunity for revenue growth and has become key to survive the decrease in domestic sales and the closure of physical stores,” said Global-e’s CMO Nir Debbi.
“Together with the consistent increase in cross-border trade, expanding their reach to international markets will enable brands and retailers to better capitalise on the upcoming peak and drive Q4 sales.”
Meanwhile, Global-e reported more than 60% of British retailers have invested more in e-commerce as a result of Covid-19.
But Debbi warned British retailers that the key to success would be a strong e-commerce plan going forward.
“Brands that will be able to provide shoppers with an optimal shopping experience that is localised to their market, will be in a stronger position in the long term and drive sustainable revenue growth.”
Last month, Coty’s Sue Y Nabi appointed Jean-Denis Mariani to serve in the newly created role of Chief Digital Officer in order to transform the company’s digital platforms and accelerate e-commerce.
Meanwhile, a host of beauty brands, including Neal’s Yard Remedies and Charlotte Tilbury, have bolstered their e-commerce presence in order to deal with the shut down of retailers nationwide.