Mollie publishes data on the challenges UK and Europe-based merchants face

Wednesday 31 March 2021 12:57 CET | News

Mollie has published data revealing the challenging conditions UK and EU merchants face and their plans to bounce back following the UK’s formal exit from the EU.

According to the press release, the findings, based on responses from 2,500 UK and Europe-based retailers and displayed in this report, also highlight which markets European merchants are primarily selling to:

1. More than half of retailers sell internationally to some degree:

  • 44% of businesses sell purely domestically;

  • 56% sell internationallyo 22% sell across Europe as a whole

  • 20% sell across a select few international borders;

  • 14% reported that they were selling globally.

2. Challenges: 

  • 43% of retailers cited the high cost of shipping as a major challenge;

  • almost half of retailers (48%) said that projected delivery dates were the top reason for abandoned carts with consumers being put-off by long dispatch and arrival times;

  • conversely, 43% said that unexpected or additional charges like delivery fees was the main reason for abandoned carts;

  • 59% said over-reliance on third parties for shipment was a key factor hindering growth.

3. Focus over the next 12 months:

  • more than a third (36%) are looking at improving logistics and shipment methods to help grow online revenue;

  • half of UK and EU retailers (50%) said managing international expansion was the most important element for trading online - suggesting retailers are looking at careful expansion over the coming months.

The survey was commissioned by Mollie and undertaken by Coleman Parkes. Fieldwork was completed in October 2020. The sample was 2,500 merchants across five European countries – 500 from Belgium, France, Germany, the Netherlands, and the UK. Within each of these countries, 100 were drawn from each of the following sectors: groceries/FMCG, hospitality/food delivery, home/hobbies/lifestyle, clothing and apparel, and consumer electronics. Across Europe, 500 merchants were surveyed in each sector.

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Keywords: Mollie, research, retail, ecommerce, Brexit, merchants
Categories: Payments & Commerce
Countries: World
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