Amazon and UK Trade & Investment (UKTI) has formed a partnership to help small businesses in the UK increase their exports and improve their e-commerce arms.
The internet retailer has one of the best e-commerce fulfilment delivery systems in the world and its international footprint means it can handle the fineries of currency exchange, taxes, marketing and distribution. Amazon has provided a selection of services to make it easier for UK businesses to ‘plug in’ to its e-commerce facility and give them access to 285 million customers around the world, which made £50 billion of purchases last year.
Amazon Marketplace has become increasingly important for major retailers, as well as smaller businesses looking to establish a foothold in the UK and foreign markets, in recent years. With the global e-commerce market growing by 20% year-on-year and showing no signs of slowing down, it’s the obvious way for smaller businesses, especially with niche products, to compete in the global market and attract new buyers from overseas.
Order fulfilment is always the major hurdle, of course, but with Amazon’s infrastructure helping the small and medium enterprises of the UK overcome this then it could attract a huge number of businesses to the e-commerce platform and prove a master stroke for Amazon.
The two parties signed a Memorandum of Understanding on Thursday 17 September at the GREAT Global Investment Conference in London.
Catherine Raines, Chief Executive Officer of UKTI, said: "The global e-commerce market is growing fast and that underscores the huge opportunity for businesses of all sizes to grow their businesses by increasing their sales online and expanding to new markets."
Amazon executive Doug Gurr added: "The digital economy is expanding rapidly around the world, which offers opportunities for British companies to grow. At Amazon, we have built systems to make it easier to sell abroad. This new partnership with UK Trade & Investment will help UK businesses to expand their international sales and drive trade."
It will be interesting to see how this deal pans out, as international sales are vital for many UK businesses and a direct route to market could be the answer they have been looking for.