A better time has never existed for companies to think big and go global. However, 20 years ago, international selling seemed only possible for the largest corporations. But today, as international shopping becomes increasingly accessible, more merchants are taking their businesses global, eager to start selling internationally and capture a wealth of new customers.
If you're considering expanding your business overseas for the first time, you'll need to plan ahead before you go in. Here are five essential points to consider. Here are some pointers for companies considering going worldwide.
When you decide to start selling overseas, choosing the right online market to sell on is critical. First and foremost, conduct research to determine who will be your foreign customers, and the most popular in your industry, and the criteria they have for overseas suppliers such as yourself. Then, take into account the following:
Outlining all these will give you an idea of what is getting into, and expansion into international markets requires a great deal of care and attention.
After you decide where you're going to sell internationally, you should choose the right marketing strategy to go with it.
As a new entrant into the market, and of course an unknown brand to the international audience, you must establish your brand on a global platform and make it visible. How do you do that? Find out here.
There are plenty of local targeting options available through Amazon, eBay, Etsy, Facebook, and Google, but there are also global online marketplaces like The Global Collective. There you can list your products, access the best partners internationally, promote, plan, distribute and start selling online simply in few steps.
It may surprise you, but credit card payments and PayPal aren't as popular in some regions of the world as, say, bank transfers or cash on delivery.
So, find out what your new consumers like to pay with and let them use it at your store. Optimising your checkout experience for your customers will increase sales and decrease cart abandonment considerably.
Taxes are never fun, but if you don't want to get into problems with the penalties, you must handle them correctly.
Selling abroad takes more than simply deciding where to go and acting as if it were a natural extension of your home market. You should also be informed of the country's cross-border eCommerce rules and how they relate to your products.
Determine whether tariffs and taxes will affect the landing cost (the total price you spend to deliver an item) of any items you want to sell abroad, and inform consumers of any additional expenses upfront.
Tariffs may be decreased or removed altogether if your nation has a free-trade agreement in place with any of the countries you plan to sell into and your product category is covered.
A cross-border sale may result in an international return, and the laws governing how they are handled differently depending on the market.
Make sure your return policy conforms with all applicable local regulations, and make it clear if you'll charge restocking or return fees, as well as whether you'll provide a complete refund or store credit.
Consider putting up a local returns centre or collaborating with a logistics provider that can provide consumers with a range of return alternatives, reimburse them faster, and simplify the process.
Selling products internationally is a lucrative, exciting opportunity. The internet, worldwide online marketplaces, and partners like TGC have made buying and selling easier, faster, and more profitable than ever before. So, are you ready to get started?
The Global Collective is an Online brand exporting distributor and your platform to launch and grow enterprise marketplaces for B2B and B2C organisations at scale. With years of market experience, our customer success teams are among the best-qualified teams in the world to help our customers succeed in the marketplace. Let us get you started now! Register your brand here.