Updated: Sep 27, 2020
In today’s era of digitization and globalization, business expansion to an international scale is critical. The same applies to eCommerce stores.
But, the global expansion of eCommerce businesses can be quite challenging. There are plenty of roadblocks and red tape you may have to navigate around.
Lucky for you, here are five proven tips to going international with your eCommerce business.
Let’s read on:
#1 Localization Everything.
Here, everything includes your website, payment methods, strategy, marketing, and shipping solutions.
You want to tailor your business to each international target market. From shopping to making payment online, you want to deliver a personalized customer experience.
That’s when localization becomes the key!
Does your website speak the language your audience understands? Do you accept their local currency? Does your business cater to buyers who are more interested in electronic products?
Find differences in territories you target, and adjust your communication and marketing strategies accordingly.
#2 Develop an Individual Strategy for each Country
Do your due diligence, and you will be surprised by the exceptional market differences between territories you may be targeting. You will realize that the one-size-fits-all approach does not work here.
You need an adequate amount of time researching and implementing a solid localized business plan for each target country.
Although there are some standard ground rules for establishing a business in new climes, you need an entirely different set of metrics, markets, and demographics to developing at an exceptional rate.
Conduct research on the local language, shopping habits, availability of logistics, etc. Consider demand-based performance indicators and determine the potential scalability of your business in that particular country.
#3 Prioritize Mobile Ecommerce
Global mobile commerce (mCommerce) revenue is expected to reach $3.56 trillion by 2021.
More than 67% of the world’s population owns a mobile phone.
Roughly 79% of mobile phone users make purchases online using their smartphones.
These facts reflect the rising consumer shopping preferences for mobile devices.
So, you need a clean mobile-first website and a progressive mobile app that offers personalized shopping experience.
#4 Start Small and Scale-Up
When you decide to enter a new global market, risks are inevitable. Rather than being remembered as a failed venture, you are advised to test your market scope.
And scale up gradually!
There are many less-risky alternatives when you venture out in a new, international market. For instance, you may try drop shipping from local suppliers.
It will reduce your shipping costs and some taxes as well. On top of that, you could gather some valuable data on the best-selling products and shopping behaviors in the market.
#5 Support Local Currencies
A recent survey conducted by Penton Research reported that eCommerce stores selling offshore miss out on sales primarily because of a lack of local currency pricing capability.
The survey of 30,000 online shoppers in Australia, Germany, the UK, and Canada explored eCommerce sites' shopping habits. The survey concluded in dissatisfaction with online retailers supporting US dollars only.
Thus, offering multi-currency pricing is another essential success parameter for international ecommerce.
We hope you find these tips useful. If you have any suggestions, let us know, please.