Above all, one of the major concerns of every retailer is to how to attract new customers. Well, there’s a good opportunity waiting out there—all you have to do is to think a little more global.
According to a Forrester Research, cross-border B2C e-commerce is expected to more than double to reach $629 billion by 2022. And with the growing numbers of people who are indulging into purchasing online, added with broadened internet availability, then, perhaps, you could achieve your goal in making a name internationally.
But before anything else, of course, you have to get all things in the right place—strategically. Thus, here are some useful tips on how to start your product’s international journey:
Know your Target Markets
The first thing you should understand is your target market. Finding them is not a really difficult job. However, you should learn who your international customers are, what they buy, and how they shop.
Also, you might want to consider how these customers want to pay. Then after that, you can start thinking about how you would get paid. With regard to that, there are two things you should remember in working on this matter:
- Do a comprehensive research on payment providers and check their reputation.
- Choose a payment provider with a reputation for security.
Lend some attention to the regulations
Of course, going international would also get you into being liable for a whole new set of rules. When the time comes that you have already decided the country wherein you’ll sell your products, make sure that you’d also pay attention to their specific rules and regulations. In line with that, here are some of the key areas to consider:
- Duties and taxes
- Customs
- Free-trade agreements
Create a good plan for shipping and returns.
One of the basics of going international is the shipping and returns—unless, you want to deliver it door to door. Practicing the best schemes on this matter would be of great responsibility—and help at the same time—in selling internationally. Thus, you might have to set clear delivery expectations. Also, you should establish a return policy. When getting things together in place, here are some points to think through:
- Any requirements as detailed by local consumer laws
- Refund stipulations, like when you’ll issue them and whether you’ll give store credit or cash refund
- Time limit for returns
- Restocking, return delivery, or other fees
Strategize your market entry.
Once you have done all the things you need to do, and when your indications tell you that you are ready to start on international selling, your option now is to plan your entry.
In line with that, here are some options you might want to consider in entering the international market when selling your products online:
- Starting small on an existing online marketplace.
- Optimizing your current website.
- Creating a custom website for certain markets.
There you go! Go out and seize your future in an international market! Your future customers are waiting.