International Trade News for August 2024
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🇹🇷 Turkey (Republic of Türkiye): Major Changes to B2C eCommerce Shipments
Effective August 20, 2024, significant regulatory changes will impact B2C eCommerce shipments to Turkey. The Turkish government has lowered the low-value threshold for goods from €150 to €30. In addition, the applicable duty on B2C shipments has increased from 30% to 60% of the total value of the goods.
UK retailers shipping to Turkey should adjust their pricing strategies and be prepared for the increased costs and regulatory demands this will bring.
Keep an eye on your Turkey shipments to ensure compliance with the new rules.
🇿🇦 South Africa: Is Amazon’s Entry This Year Fuelling a Growing eCommerce Market and Shifting Consumer Behaviour?
Amazon’s launch in South Africa earlier this year in May 2024 is being hailed as a game-changer for the local eCommerce industry. As South African consumers increasingly shift their buying behaviour online, with a focus on convenience and better prices, Amazon’s timing couldn’t have been better. A recent study revealed that South Africa’s online retail sector surged to R71bn in 2023, a 29% increase from the previous year.
This growth is being driven by consumers moving from discretionary to essential online purchases, prioritising cost-saving, reliability, and the ease of home delivery.
This presents new opportunities for UK retailers to access this expanding market. By aligning with these evolving consumer preferences, UK businesses can capitalise on the increasing demand for affordable, reliable online shopping in South Africa.
🇦🇺🇳🇿 SPOTLIGHT OF THE MONTH: AUSTRALIA AND NEW ZEALAND
With opposite seasons in Australia and New Zealand (winter there while it’s summer in the UK), now is the perfect time for UK retailers to capitalise on seasonal demand and move seasonal stock. Which means as they now slowly head into spring (September – November), it’s the perfect time to move summer stock there. Although shipping to these destinations can be complex, it also presents a significant opportunity. By adopting the right strategies, you can tap into the growing demand for international products and maximise your success.