Chinese e-commerce platform Alibaba has partnered with the Institute of Export and International Trade to conduct a new research on pet industry markets asking 3,000 pet business. 67% of respondents exporting goods expects increasing export sales in the upcoming year.
4 out of 10 respondents have told to use online marketplace since the start of COVID pandemic. 77% of pet companies said that export mainly contributed to their digital success.
In the mind of British pet companies, the EU market has the greatest export possibilities (38%) followed by China (36%) and North America (32%). Athough, pet businesses have to deal with several difficulties too.
Overall, exporting companies agreed with 84% the boosting effects of export, 77% even answered an increase in innovation. 65% of pet enterprises have stated exports helped to minimize pressure only operating in the UK.
“Once a business starts to export, they realize the benefits outweigh the perceived barriers, and they grow in confidence,” explained Mim Figueiredo, Business Development for Pet Brands at Tmall Global, Alibaba Group in Europe.