The most precious value of eCommerce – no physical boundaries. The entire world is your market. Expanding to the international market is appealing but may be tricky. With the right digital tools and strategy, any company has the opportunity to go global, even if you are a startup without an office.
Let’s see what statistics say. Half of the world’s population has access to the Internet, which greatly increases the chances of reaching a foreign audience. According to a Pitney Bowes eCommerce study, now 70% of consumers annually make at least one order with delivery from abroad.
PostNord reports, in Europe alone, more than 186 million people buy items on foreign websites every year. According to forecasts, the number of such orders will grow annually by 27 %.
Modern buyers live in a world without borders. For them, it does not matter where the company to which they turn to products or services is located geographically. This has been proven by the data collected during a survey held by Google among Booking clients in Great Britain back in 2014. 96% of respondents did not know that the company’s office is located in the Netherlands, and 90% would again book accommodation on the website regardless of that fact.
Entering the international market is a good way to make your business more profitable, competitive, modern and economically sustainable. The expansion also extends the life cycle of goods and services. If saturation occurs in one market, you can switch to another. Finally, in the external market one can often achieve a larger scale than in the internal one.
How to start selling abroad
According to a Google survey, 60% of exporters began with a study of market statistics. You need to find out, for example, in which countries your product will be most in demand.
Of course, it may take a lot of time and money to research the markets. You will need a lot of data: what are the size and structure of the markets, who are your potential customers and how solvent are they? Knowing your competitors is important too.
If you are not ready to conduct your own large-scale research, use the service Market Finder by Google. It will help determine which regions are most promising for your company. It contains the following data:
- The demand for products or services similar to yours, expressed in the number of local searches for them.
- Index of business complexity.
- Economic statistics – for example, per capita income.
- Information about trends, consumer behavior, and other local features.
You will need to launch a campaign that can simply rely on marketing activities, but, what’s more efficient, may also involve launching local storefronts. To switch to global sales with a local digital presence you will need a technical solution to manage it.
This solution for managing the global distribution network has to allow you to:
- launch local storefronts
- manage distribution chain and warehouses
- track online analytics, sales performance, ROI, etc. of the entire chain
- automate reporting, tasking, and marketing
- allow integrations with shipping services and payment gateways
- and have it all in one interface
We have a digital solution to reinforce your global expansion
It is a fully customizable eCommerce platform with built-in tools for marketing, analytics, reporting, cost and sales control, fulfillment and payment processing. It provides a joint multi-store sales, reports, distribution, and supply management interface. The mobile app included.
You’ll be able to take over the control of your entire global digital distribution channel with resellers, partners, and customers working in one ecosystem. End-to-end analytics will reinforce your strategic decisions on the way to international leadership.
Interested? Need more details? Let’s discuss your international expansion strategy.