How to Succeed in International eCommerce

How to Succeed in International eCommerce

If you want to bring your business to the next level, going global is the best way to do it. International markets (those outside of the United States) make up 80% of the world’s purchasing power and comprise 95% of the world’s consumers. With that being said, the opportunities that exist in global expansion are endless and technology is evolving to meet the requirements necessary for business to scale up quickly and spin up international instances for multiple markets. We’ve put together five steps you can take too launch your global eCommerce business and tap into additional markets – read on below and download the whitepaper for more details.

1. Research, Research, Research

As with any other business venture, you must be well-informed and do your research before expanding to new international markets. Using your website analytics platform, you can see if global expansion is a lucrative decision and, if so, where outside the U.S. there may be a growing demand for your products and/or services. If you’re seeing that your website’s visitors are coming from other countries or regions, you’ll know to prioritize those places and focus your efforts where it makes sense. Further, you can conduct a gap analysis to see if there is a demand in those areas not currently satisfied by local competitors.

2. Keep Sales Activity & Trends Top-of-Mind

To stay on top of sales activity, fluctuations and trends, your eCommerce platform should make the data available with a transparent and easy-to-understand performance snapshot dashboard. Aggregating the most important types of eCommerce data will keep you prepared, proactive and able to quickly respond to any changes in activity.

3. Localize Websites for Top Markets

If you’re going to target customers in an international market, you should have a version of your site that is translated into the language most prevalently spoken in that market. Companies that think customer-first and make an effort to customize their eCommerce instances to the location of their new markets reap ROI benefits. Make sure to select an eCommerce platform that offers native support for translation services and automated content workflows managed from a central console.

4. Be Accommodating with Preferred Payment Methods

If your business is going international, it’s essential to display your prices in the local market’s current and to offer alternative payment options. This makes it easier and more straightforward for your customers to complete their purchase – if not, you run the risk of losing customers because your site isn’t in their language or their currency.

5. Be Compliant with Global Data Requirements

When it comes to personal data, the average consumer is far more wary of companies that do not hold themselves to certain standards or protocols. This is especially true of eCommerce businesses, since they’re usually handling sensitive personal data such as customer addresses, health information, payment information and even income. Check out the list of platform and data certifications below to make sure you’re up-to-date with the latest in data and privacy regulations.