Positioning your business for a bite from the projected $1 trillion for 2020 in global e-commerce pie should be your next business agenda. Available report from Alibaba Group says the consumer populace turning to shopping online around the world is on the increase. The figure projects an increase in the use of the internet for consumer goods as well as for services. To benefit from the global consumer surge in online shopping, you will need to position your business to present a compelling offer to woo shoppers, make more conversion and sales and take a substantial cut of the pie. To achieve this important goal, you need the strategy to expand your e-commerce business internationally.
Just as the brick and mortar stores — where location can make a huge difference in business — ecommerce businesses also thrives with a carefully defined marketplace. There are marketplaces beyond Amazon and eBay that could expose your product to millions of new users.
Your e-commerce expansion strategy needs to target viable, international markets with the best chances of delivering a good return on your investment. Some factors must be considered as a part of this process, while it is equally important to remember that all international marketplaces are not created equal.
A good example is France that has a booming ecommerce industry. It has one of the largest online retailers is C discount offering over 15 million product from more than 8,500 sellers. If you doubt where to start from, consulting your international suppliers may give you lead because they understand the local market and know popular marketplaces in their regions.
For a successful market entry abroad, considering how to enter the global domestic market may be a good idea to develop. You will need a well-considered market entry and penetration strategy outside simple as applying an existing strategy to new regions.
For example, what works in North America may necessarily not resonate in Africa, Asia or Australia. You will need to personalize your strategy for each market you plan to enter with resounding success. Globalization offers the only way to build the market credibility and brand trust required to succeed on a global scale.
Entering a new world market must go with accepting new payment systems. Doing so is a major step to avert high rate of cart abandonment due to lack of acceptable payment system in your new market. Remember that the payment system will not only be acceptable, but it must also be secured as well.
It’s important that your presentation must convey quality experience for the customers in the international marketplace for the most positive shopping experience ever! Don’t be tempted to think of emerging markets as not mobile-ready, a report from KPCB’s 2015 Internet Trends says otherwise with India recording over $6 billion sales on mobile in eCommerce.
Invest in responsive website design to accommodate all types of shoppers across all digital mediums. The general rule is to start with a mobile site first and later go for a desktop platform, instead of optimizing for mobile after you have built a slower-loading desktop site. Use an ecommerce website builder that is designed to make your customers experiences easy and pleasant. I know Shopify has good reputation for providing such a service, you should check it out.
Selling abroad is an adventure with the potential to transform your e-commerce venture and your ways of doing business. It promises better business exposure for you and your company to find new opportunities in the new countries to serve the customers culturally and otherwise. You don’t have to fear going international as far as you did your homework and follow the tips discussed in this article.