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#QITOchat | Fastest growing online shopping market | UK GDP growth

QITO highlights
DHL and BCC discuss export challenges faced by UK businesses
 

Following the release of the Q2 2015 Quarterly International Trade Outlook, which found that 68 per cent of exporters struggle to recruit the right skills, DHL Express UK and the British Chambers of Commerce took to Twitter last Wednesday to answer questions from UK businesses, using the hashtag #QITOchat.

Many local Chambers representatives shared their experiences and gave advice on going global.

Aside from skills, other key challenges included global connectivity, finance and a lack of awareness of the support available to businesses looking to export.

 
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Over 55s present e-commerce opportunity for British retailers
 

New research shows that the over 55s are the fastest growing market for online shopping. It is anticipated that those in the 55 and over age bracket will account for £14.45 billion of online spending in 2015 and are expected to make up two thirds of all retail activity by 2025.

However, only 22 per cent of online retailers are taking advantage of this by directly targeting the age group.

The over 55s are an ideal market for businesses who sell their products online. They typically have more disposable cash, are more influenced by online recommendations, and are more likely to want products delivered straight to their door.

 
e-commerce increase

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Greek economy growth
CBI predicts higher UK economic growth
 

The Confederation of British Industry (CBI) predicts UK GDP growth of 2.6 per cent in 2015 and 2.8 per cent in 2016. Both figures are an increase on the June forecast.

This growth will be driven by increased household spending and business investment – which is great news for British businesses. The figures also suggest that productivity has increased as well.

"
Strong domestic demand and upbeat official data since our last forecast has boosted our outlook for 2015. We expect this strength to continue into next year," said CBI director for economics, Rain Newton-Smith.

 
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Thursday 27 August 2015

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