There has been a rise in eCommerce businesses all throughout the globe, not only in the USA. Researchers estimate that the U.S.’s eCommerce industry, at $744.1 billion, is the second biggest in the world. Only China, with its $1.15 trillion eCommerce market, is more valuable. It’s a lot of money, but considering that 78% of Americans have previously made purchases online, you may want to expand your reach to a wider demographic.
The accessibility of global businesses is a direct result of the widespread availability of the internet. As a result, eCommerce businesses have one of the lowest entry barriers when going global. In general, serving foreign consumers doesn’t need much more than translation, language payment, and shipping alternatives, but a great global marketing plan will help you truly acquire a footing and compete with local businesses that are already prospering internationally.
Keep on reading for three tried-and-true tips that will help you have a much easier time expanding your eCommerce company internationally.
Try to Fully Automate
Although “automation” has become somewhat of a buzzword in recent years, it’s essential to remember that, if done well, technology may help us realise a wide range of business objectives. In the realm of online commerce, many processes may be automated to save both time and money. Additionally, by freeing up HR employees to focus on higher-level challenges, automation may help every one of your teams perform better.
Despite its many advantages, automating an eCommerce business is not without its challenges. You must be cautious with your investments. If you don’t simplify your automation plan and choose the solutions that will help you grow more efficiently and effectively, you risk spending too much money on the wrong things. For example, if you work in the fashion and garment business, the right apparel ERP software may handle everything from manufacturing and production to logistics and inventory management. The use of trustworthy software may greatly simplify all of these responsibilities.
Increase Your Online Visibility
The benefit of current marketing is that it is primarily done online. When going global as an online retailer, you don’t need to bother (at least initially) about purchasing local TV commercials in other countries or setting up physical locations in other countries to attract more customers. In reality, eCommerce businesses are well suited to global expansion since the whole world is literally at your fingertips.
Create a social media campaign aimed at foreign consumers to expand your eCommerce company internationally. For example, you can utilise the power of social media influencers who can help you reach a global audience. Some research is required for this since you need to locate influencers who are willing to promote your business.
You could also regularly publish ads on different social media platforms aimed at people all around the world. This is less difficult since advertisements may be directed to a specific city or nation with relative ease. Consider hosting a global social media contest that compels participants to follow the brand and share with their networks.
It’s also important to use the local language so that people from other countries may discover what they need quickly and simply. For instance, what Americans refer to as a “tank top” is what Brits call a “vest.” Don’t risk confusing a consumer by sending mixed messages.
Provide a Wide Range of Payment Methods
Most nations choose to employ different payment methods. Credit cards are widely used by American customers, while in other countries, contactless cards and digital wallets such as PayPal, Google Pay, and Apple Pay are more popular. Consumers in China, for instance, like a service called AliPay, whereas those in Europe, North America, and South America may choose a service named Stripe.
Currently, Amazon, Poshmark, and Letgo are the three most popular mobile eCommerce apps, together making about 55% of all mobile eCommerce transactions. The convenience of app-based checkouts is a major factor in this. Several eCommerce systems, such as Shopify, already provide foreign payment alternatives, even without app-based payment. The more convenient it is for customers to purchase from you, the more likely they are to do so. Cart abandonment rates now hover around 70% across all sectors.
As the world continues to shrink in size and become more of a network of linked communities, going global will become less of a luxury and more of a need. Fortunately, eCommerce solutions are already helping retailers of all sizes to go global and grow rapidly.
Of course, if you’re still a tiny, local business, the words “global eCommerce” may seem intimidating — but with the aid of this guide, you’ll have a better understanding of what you can do to expand your business into foreign markets.