Ecommerce in Global Markets

Reaching international markets is just one of the upsides of being an ecommerce business. There are no confines to being an international distributor when the website is online, live, and receiving orders. However, there are things to consider when the scope of operations is wide enough to include many different countries, cultures, and currencies. Risks increase, and the frameworks required to succeed become of vital importance to any business.

In this blog, we explore the risks, factors, and suggestions that come with international ecommerce and sales in this era of technology, connectivity, and changes.

Beware of Monetary Changes!

When crossing borders and entering different territories, it’s more than likely that the operating currency will change. This also means that the value of the currency in your pocket or bank will change to be higher or lower. The same goes for ecommerce websites and accounts. Currency values will inevitably change as they always do, and websites need to keep up with that. This is because customers like to know what the real price is before making a payment. Of course, there are tools available for websites to automatically display different currencies on websites and keep them up to date. However, the trick is to pick the right tool to do the work as presently and accurately as possible. 

It may also help to know that the displayed currency often indicates to the customer where the product is coming from. A familiar currency is more likely to establish a degree of trust that an unfamiliar currency wouldn’t. No matter how small the degree, a trusted website is more likely to generate sales. The displayed currency also indicates to customers where a product is coming from, and an overview of the average time it would usually take to ship. Being as current standard practices favor quicker delivery times, reassuring customers that products will not take long to arrive is in every company’s interest. This can be done by displaying the currency from the viewing customer’s location.

It is also worth noting that international ecommerce must always take into account shipping prices for customers as well as for themselves. A high shipping price for customers can be a deal-breaker. To remedy this, displaying customer currencies can indicate low shipping prices that may help to decrease skepticism and encourage purchases.

Efforts you make will increase your revenues!

Cultures can differ, but hearts stay the same

Another factor that is vitally important to customers is the impression they have of your ecommerce brand. Positive and negative impressions are both avenues that brands could take to leave a mark on customer memories, and both incidentally depend heavily on cultures and the different ways of different people. 

For example, in Saudi Arabia, the Starbucks logo does not display the mermaid in order to respect the conservative country’s ways and traditions. In Japan, a commonly served sauce is the Otona Wasabi Mayonnaise. The examples are endless and are separated from the obvious differences in country norms. 

A method that ecommerce websites can use to build trust, and increase global belongingness is to be aware of country norms, and use them to their advantage. Changing the website language to be accessible to different cultures, using different country trends to market directly towards their respective viewers, and even using native language to the different countries will greatly improve your website’s chances at increasing sales and building a client base with a longer retention lifespan. 

Furthermore, it should also be considered that just as trends differ between each country, so too does the popular social media platform within that country. As such, it may be found that demographics between the ages of eighteen to twenty four use twitter in America, whilst the same demographic more dominantly uses Facebook and Instagram in Britain. You may be thinking about how to make your ecommerce venture as strategic and efficient as possible. The answer to that could easily be to hire an ecommerce professional! Check out this blog to find out how to do so: Recruiting the Best Ecommerce Candidate

Supply and demand

Lastly, having an international demand for your product is great. When done right, it could mean the expansion and globalisation of your brand. However, you must ensure that your supply is able to meet demand. Ask yourself if you can supply the amounts that the world demands.

There have been many examples of businesses that have gone viral on social media platforms such as TikTok and other social media only to find they couldn't keep up with demand. Ensure that your ecommerce venture is able to withstand the demand that comes with going global while maintaining the same level of quality and customer care that would satisfy your customers. For this, consider hiring a digital marketing professional or an intern to help! Need to hire an intern and don’t know where to start? Check out our blog:  6 Reasons Why You Should Hire A Digital Marketing Intern

Keep track of changes!

If you would like to find out more about ecommerce and how to grow your ecommerce venture, check out our blog: Why Ecommerce is the Future