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10 reasons for expanding Internationally with Cross-border Ecommerce
Eunimart– an advanced Artificial Intelligence-powered platform which completely automates all your business processes and provides real-time visibility and control over all your channels of sales. Eunimart helps to optimize your product pricing depending on which geographic region you want to target and through which channel. They help manage your product information, provides real-time competition analysis and gives you the best Shipping and Warehousing rates and even reconciles all your payments with detailed visibility.
Markets are changing every day as are our attitudes and beliefs. Shopping is no longer confined to malls or individual shops or to domestic markets. The numbers of people that now shop online have grown and the figures are mindboggling. Just as Indian shoppers are hungry for a change to their consumer durables, clothing and accessories, so also are the Europeans, Americans or Australians. Who does not like an Indian handicraft or some masalas that tickle their taste buds? It’s time to cash in on the golden opportunity at potential markets through cross-border ecommerce. “Vision, predictive powers and thinking ahead are key features of online sales pioneers”
Expand your business by selling globally across the 7 continents, across segments of people from different cultures, background, geographical differences and tastes. Cross Border Trade will set you apart.
“If you are considering international expansion, do it now. Simply put – apart from international expansion being a great way to increase revenue, it is a great way to help future-proof your business. As the cost of Facebook ads increases in countries like the United States, Canada, and Australia, other countries continue to remain very affordable, especially places like Asia. By opening up your targeting to foreign countries, you can often find media arbitrage opportunities, where your cost to acquire a customer is much lower. By figuring this out you can now identify opportunities to adapt to as media costs rise and you can identify opportunities to become more efficient in your fulfillment and conversion, i.e., currency localization, over time.” — Eric Carlson, Co-Founder, 10xFactory.
10 Good Reasons to expand internationally with cross border Ecommerce.
- The growing number of internet users is an asset for the ecommerce trader and is an incentive for him to go cross border. In October 2019, statistics say that there were 4.48 billion internet users worldwide, encompassing 58% of the global population as per www.statista.com. There are said to be eleven new users every second and the world has witnessed a 14% growth of the global ecommerce spend. If that is not a reason for you to jump into the fray, then what is? So, expand your business internationally with Cross-Border ecommerce now.
- Technology is here to stay. Cash in on it and expand your business internationally with Cross-border Ecommerce. Technology has brought the internet into our homes, through various devices like our mobiles. Indians and the Chinese are probably the largest users of it, with people shopping on the go. You can now do your Market Research, study Demographics, manage the Supply Chain, observe and analyze competition and more because technology has opened up new avenues. Buyers now have greater access to goods manufactured across the world and one of them could be yours.
- Demand for international products is on the rise. People are looking for a bargain on goods and consumers don’t even have to wait very long for shipping because many a time goods from overseas are warehoused locally and available in local marketplaces. Thus, ecommerce has brought the buyer and the seller closer by breaking down the barriers of distance through cross-border ecommerce. When you expand your business internationally with cross-border ecommerce, you are exhibiting your products to a substantially higher number of potential buyers. Till you do this you cannot measure your own potential in ecommerce.
- Improved logistics and better payment options are a motivation to sell cross border. There are countries like India where a large section of the people do not own computers yet mobile phones are widely used. It does not need an educated person to use a mobile. Consumers can thus easily shop on their mobiles and even order goods that are not from the local markets. The Middle East and North Africa are now viable markets for ecommerce business.
- Forrester, the research firm predicts that “cross-border purchases will comprise 20 per cent of all worldwide ecommerce in 2022, with sales of $627 billion. The Asia Pacific region, dominated by China, will become the largest cross-border ecommerce region for both imports and exports. Rising incomes, an expanding middle class, and dissatisfaction with domestic products propel China’s ecommerce growth. China has 300 million middle-class consumers clamouring for foreign goods.” This is indeed motivation enough to search for viable markets for cross-border ecommerce.
- The ease of doing business via the marketplace must be taken into consideration. China, for example, has a huge ecommerce potential. Amazon has its Prime program there too and its members can avail free cross-border shipping. While Alibaba the ecommerce giant from China welcomes small entrepreneurs as well as multinationals to list on its Tmall The logistical benefits offered by Alibaba to small businesses are attractive. Since selling directly in China is next to impossible it is more sensible to make use of this facility. A complete solution for import duties, delivery, payment or management of regulatory compliances are offered as a package on marketplaces.
- A study by Mckinsey points out that an estimated 1.8 billion more consumers will enter the market by 2025 with annual spending of $30 trillion. That definitely calls for businesses like yours to look at the option to expand internationally to potential markets with cross-border ecommerce.
- Once you are an established name or brand locally, you need to think of expanding. Selling internationally widens the horizon and there are chances of the demand for your product to multiply provided you satisfy your customers.
- If sales are confined to seasonal demands or festivals in local markets then you definitely need to explore the possibility of selling in potential markets through cross-border ecommerce internationally.
- When you notice sizeable traffic from foreign markets coming to your landing page you have a reason to experiment by touching upon potential markets through cross-border ecommerce and sell globally. If you are a master at domestic pricing then going cross-border is only an extension of that along with a fair understanding of the Payment Gateway and relevant taxes and permits.
These are all your stepping stones to success. To make things easier for you and expedite the process you can always use Eunimart– an advanced Artificial Intelligence-powered platform which completely automates all your business processes and provides real-time visibility and control over all your channels of sales. Eunimart helps to optimize your product pricing depending on which geographic region you want to target and through which channel. They help manage your product information, provides real-time competition analysis and gives you the best Shipping and Warehousing rates and even reconciles all your payments with detailed visibility. Live Free and Sell Easy with Eunimart!