If you operate an e-commerce company, the world is at your fingertips, and global markets offer the enticing promise of increased visibility and sales. “International expansion is a great way to mitigate risk and reliance on a single market for all your sales,” noted Chris Vincent, global CEO of Practicology. “Picking up sales from international markets is a great way to offset softer sales domestically if you sell products that are unique and in demand,” he said, “or you can compete with local players on delivery or price.”
"Vivian,
As you mentioned, there are a lot of hurdles, other than just having a completely equipped website, for taking a business to international market.
It sure is a way to mitigate risks if you succeed. That being said not every business is cut out for international market. Especially if you sell a product. There are a lot things to take care of before hand, like logistics, ,legal formalities , taxation, etc. After all that hurdles you still need to find out whether your product pleases international audiences.
But if you run a service business which can be delivered regardless of the distance, then you have a great shot at it, with little effort.
I run an ecommerce website targeted only in Dubai, UAE region. Last year I had discussed the possibilities of global expansion with ,Global Media Insights, the company marketing my ecommerce website. The competition is high for international market, and you are often faced with challenges not only from international counterparts, but also from regional ecommerce websites.
The initial cost to setup a delivery network and to market your services globally is indeed a concern for medium businesses. only big league players with enough financial backup can expand globally, as the stakes are just as much real in expanding any business.This might be why 80% of eCommerce websites are targeting only certain nations or even cities which they can handle.
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7 Keys to Global E-Commerce Success
Posted by: Vivian Wagner June 26, 2018 07:00 AMIf you operate an e-commerce company, the world is at your fingertips, and global markets offer the enticing promise of increased visibility and sales. “International expansion is a great way to mitigate risk and reliance on a single market for all your sales,” noted Chris Vincent, global CEO of Practicology. “Picking up sales from international markets is a great way to offset softer sales domestically if you sell products that are unique and in demand,” he said, “or you can compete with local players on delivery or price.”
As you mentioned, there are a lot of hurdles, other than just having a completely equipped website, for taking a business to international market.
It sure is a way to mitigate risks if you succeed. That being said not every business is cut out for international market. Especially if you sell a product. There are a lot things to take care of before hand, like logistics, ,legal formalities , taxation, etc. After all that hurdles you still need to find out whether your product pleases international audiences.
But if you run a service business which can be delivered regardless of the distance, then you have a great shot at it, with little effort.
I run an ecommerce website targeted only in Dubai, UAE region. Last year I had discussed the possibilities of global expansion with ,Global Media Insights, the company marketing my ecommerce website. The competition is high for international market, and you are often faced with challenges not only from international counterparts, but also from regional ecommerce websites.
The initial cost to setup a delivery network and to market your services globally is indeed a concern for medium businesses. only big league players with enough financial backup can expand globally, as the stakes are just as much real in expanding any business.This might be why 80% of eCommerce websites are targeting only certain nations or even cities which they can handle.