There was a time when cross-border business was considered an impossible task for small businesses. However, with the rise of Ecommerce, things have changed. Now expanding your Ecommerce business internationally is possible. Instead, it is being expected that in the coming years, international Ecommerce will be the driver of growth for the online retail business.
A recent study conducted by McKinsey predicted that by 2025, more than 1.8 billion people would become consumers. With the availability of Ecommerce, these consumers will be able to access and purchase items online, thereby leading to success for international Ecommerce business.
Have you had success in the domestic market and thinking of expanding internationally? Well, here is how you can do so.
Identify the target market
The first thing you must do is identify a target market to tap into. You can’t expand to all countries of the world. Instead, you must find markets that are profitable and worth targeting. Here, take into account the GDP of the countries, their purchasing patterns and whether your solution is worth anything to them. Find the most lucrative market and alter your website according to the market.
Pick the best international Ecommerce platform
If you already have a domestic business, then you must be using an Ecommerce platform already. However, the best Ecommerce platform 2018 has to offer in terms of international expansion may not be the same as the best Ecommerce platform for startups. This is because international markets have their own unique requirements. Only international Ecommerce platforms can cater to these demands. This is why it is essential for you to conduct an Ecommerce platforms comparison and see which platform best suits your needs. Shopify is considered to be the best option in this regard. Once you have decided on a platform, you then have to migrate to it.
Think of payment options
Make sure you do your research about which payment option to offer on your store. This payment option must be aligned with what the customers prefer. For instance, in countries like India, cash on delivery is the norm. Here, you can’t succeed if you ask for prepayments. So, research what the customers of your country feel comfortable with and include those payment options.
Once you are done the planning and altering your online store to meet the needs of the target market, you are ready to enter the international markets.
Hi #ZedTwitter. I’ll soon be launching one of the first and biggest #ecommerce store in Zambia it’s going to be a place where you can find most of the products that are hardly found in Zambian Both local and international products will be sold
More details to come. #Techtreands pic.twitter.com/dXBZc76WAI
— Andie (@Aeminent507) 14 de enero de 2019