Access to new markets, diversified revenue streams and increased brand visibility are just a few of the advantages of expanding into global e-commerce. But here’s the catch: venturing into international e-commerce comes with its own set of complexities.
Salesforce elaborated five tips to keep in mind when considering expanding your business globally:
1. Fulfilment for Global E-commerce Expansion
Expanding internationally requires navigating challenges like taxes, customs, and local regulations. Start by focusing on a few high-growth markets and utilise a commerce platform, such as Salesforce, that automates tax and shipping calculations to reduce complexity. For other regions, partner with a fulfilment service that integrates seamlessly with your checkout process. This partner should handle payments, shipping, customs, and compliance, minimizing risks and simplifying your global operations.
2. Assessing Market Potential for Global Expansion
Start by evaluating the digital transaction volume relative to population size in each target country. Consider logistics capabilities and the geopolitical climate to ensure market stability. Analyse brand awareness in these regions to gauge potential reach, factoring in the effort needed to build recognition if your brand is unfamiliar.
Key steps:
- Identify markets where consumers are already familiar with your brand.
- Collect data points, including web traffic and social media signals.
- Analyse web tracking data to see where users are browsing your site and identify trends in non-transactional traffic.
3. Crafting an Effective Global Payment Strategy
Payment options and taxes are major hurdles in global e-commerce expansion. To succeed, tailor your strategy to local legislation, diverse payment types, and consumer preferences.
Key steps:
- Analyse target markets to determine preferred payment methods.
- Use a commerce platform that supports multiple payment and currency plugins to offer localised options seamlessly. Our partner Adyen for example, provides multiple payments methos from around the worlds.
- Consider exchange rates and currency fees when handling foreign payments. Establish local bank accounts for smooth operations.
- Set up merchant accounts in each target region to ensure compliance and enable local transactions.
4. Effective Market Localization Strategies
Delivering a localised experience goes beyond simple translation. Tailor content, site structure, and promotions to meet regional preferences.
Key Steps:
- Language & Terminology: Use accurate translations and region-specific terms (e.g., “sweater” vs. “jumper”).
- Generative AI: Utilise AI tools for efficient page creation and localised product descriptions.
- Multi-Site Management: Implement a commerce platform that uses a single codebase for multiple localised sites, simplifying updates.
- Social Media Adaptation: Identify popular platforms in each region to tailor your social commerce strategy.
- Campaign Customisation: Adjust promotions, product availability, and pricing to align with local seasons, trends, and consumer behaviour.
5. Start Simple and Choose the Right Partners
To speed up your global expansion, start small by testing new markets with a basic version of your product. Work with trusted partners you already know, like your current vendors, to keep things simple. It's also important to choose the right logistics and payment providers who understand the local needs of each market and can help you reach more customers with ease.
Looking for the right tech partner to expand your business?
We’ve helped brands like BioGaia expand their e-commerce in UK, US, Canada, Japan, Australia and New Zealand, providing regional localisation and storefront customisation.
To learn more, reach out at info@thecommerceteam.com
