Strategy Centre

International Expansion

 
  
24 October 2013 15:20
  

A Whole World of Opportunity Exists in Online Retailing

A Whole World of Opportunity Exists in Online Retailing

Most retailers recognize the opportunity to extend the reach of their brand and products by selling online into new markets.

Conducting cross-border ecommerce into any country comes with benefits, challenges and a lot of opportunities.

However, a one-size-fits-all approach is not normally viewed as the best strategy.

International customers may want to select from a product proposition that is targeted to their local market, view the site in their local language, pay using their local currency, and use a selection of payment methods when doing so.

The only way to surmount the challenges of international retail is to have a technology platform that is capable of dealing with the complexities. The IRP is fully geared up for international expansion. However it still takes a sustained strategy to gain traction with international customers.

Taking into account that you are already building international traffic through areas such as search, affiliates, email and display marketing, the ability to promote country-specific design and marketing on site will be effective.

Countries speaking English are a more straightforward proposition than those speaking a different language. These present a simple first international step. Once you have moved into a number of languages and gained significant traction, you will need translation services and a customer service team who can speak their language.

As with your domestic market, your growth potential will depend on the product or service that you are selling as well as your competitiveness or uniqueness. This is combined with the strength of your standard buying, order processing, fulfilment, shipping, delivery and returns services. You will need to nurture your supply chain more effectively when selling internationally.

A recent IMRG survey of the UK’s top 100 online retail brands showed that improving international sales was a top 3 priority. Improving conversion and attracting more customers to their websites (domestic as well as international) remained their biggest focus.

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