2020-01-16

AOB is back for 2020, and our first round-up of business news is that the Dutch are most likely to return their online shopping, concerns are high for the British economy in 2020, and a flavor of what’s to come for plant-based cheese.

FAKE REVIEWS ARE UNDER REVIEW

The UK’s Competition and Markets Authority (CMA) has made it clear to sellers that it’s up to them to fight the problem of faked and misleading reviews on their sites – and Facebook and eBay are firmly in their sights¹.

Andrea Coscelli of the CMA notes that “fake reviews are really damaging to shoppers and businesses alike – millions of people base their shopping decisions on reviews, and if these are misleading or untrue, then shoppers could end up being misled into buying something that isn’t right for them – leaving businesses who play by the rules missing out.”

Trust is crucial in e-commerce, so, make sure that what’s being said about your products is not only complementary but genuine, too. To start, read our article which explores 10 ways to build consumer trust.

DUTCH SHOPPERS ARE THE MOST DEMANDING

Selling and shipping to The Netherlands? Well, you may be interested to hear that they are Europe’s highest returners of goods – with 13% off all online purchases going back to where they came from². And the results of a recent study³ may reveal why that is: 62% of Dutch people surveyed said that they found returning online purchases easy, as compared to the European average of 52%. Fashion items were the most commonly returned purchases, accounting for 44% of all returns.

Shipping internationally always comes with risks – but that’s where DHL Express are here to help. And if your products do get returned, don’t take it personally; it happens to everyone – especially in The Netherlands, it seems.

SHOPPERS ARE GETTING A TASTE FOR PLANT-BASED CHEESE

Grocery sales of plant-based foods have been rising steadily over the last few years, but plant-based cheese hasn’t seen the same uptake as other dairy alternative products. And this could be about to change. Chief Operating Officer of vegan food company Follow Your Heart⁴, Martin Kruger, believes a change is already underway. “There has been so much innovation in the plant-based cheese category and the momentum is building. How fast it grows will really depend on the next level of innovation that closes the gap that still exists between plant-based cheese and conventional dairy cheeses they are replacing.”

According to The Good Food Institute⁵, grocery sales of plant-based foods that directly replace animal products grew 31% in the past two years to reach US$4.5 billion. Quite simply, taking advantage of upcoming trends is a great way to propel your business to success – and DHL Express are here to help you take advantage.

BUSINESSES EXPECT UK ECONOMY TO SHRINK IN 2020

A survey of 250 senior executives at medium-large sized businesses across the UK has revealed that almost half of respondents expect a recession this year, while over a third are anticipating a global recession or international global crisis in the next 12 months. The reasons range from Brexit and trade tariffs to the environment, as well as, interestingly, changing consumer behavior – specifically online shopping – which 48% of respondents saw as a risk to British businesses⁶. While larger businesses may see this as a concern, SMEs should see this as an opportunity. However big or small your business, making sure you’re prepared for a recession is of paramount importance in 2020.

PITCHING TO INVESTORS? HERE’S SOME FREE ADVICE…

Carter Cast, clinical professor of entrepreneurship at Kellogg School of Management has revealed his top five tips for entrepreneurs pitching for capital⁷. From getting to the point to automating your demo, it’s a pretty tidy to-do list for up-and-coming business owners, and we feel it complements our suggestions for how to find funding rather nicely. Of course, everyone’s different, and there’s no 'one size fits all' approach for companies, but we’re of the belief that you can never get too much advice (especially from us).