With lockdowns strictly imposed in most countries, it is easy for businesses to adopt a conservative mindset.
However, evidence clearly shows that huge opportunities exist for merchants who can sell goods around the world. As such, there has never been a better time to consider expanding your business into international markets.
Ecommerce is flourishing
Ecommerce has flourished since the global onset of the COVID-19 pandemic; online retail sales rose by an average of 74% globally in March 2020 when comparing transaction volumes with the same month last year. There are a number of reasons for this.
Most obviously, people are unable to leave their homes and high street stores have closed. Consequently, consumers must go online for their shopping needs (even more so than was already the case).
What’s more, with less money being spent on transport, holidays and social outings, additional expenditure has become available for other purchases. And, of course, people have more spare time – generally speaking – as consumers have more idle hours to fill outside of work, which can lead to more time browsing through online stores.
The question, then, is how can businesses take advantage of this trend?
How to sell cross-border
Firstly, having the right mindset is key. As stated above, it is easy during such uncertain times as these to become more conservative in one’s planning; yet a more positive, ambitious approach could yield better results.
Secondly, a business must ensure it has the capabilities to export its products to different global markets. This might seem like a daunting step; indeed, One World Express recently commissioned a study among more than 900 decision-makers in UK companies, and found that 51% do not feel as though they have the skills or knowledge needed to expand their businesses internationally.
In truth, getting goods from Manchester to Madrid, Mumbai or Mexico City is perfectly achievable. And not just for large enterprises – even sole traders and small merchants can get goods from their homes to their new customers on the other side of the world.
It has become this simple thanks to businesses like One World Express. Based on our extensive integration library, which gives us access to more than 10,000 tariffs, we are able to offer multiple options to clients who want to send shipments cross-border to any destination around the world. Clients simply choose the most appropriate solution and then work with OWE for the collection and delivery of the goods, with tracking software enabling them to monitor each stage of the shipment.
Technology and service providers exist to remove the complexity of global exports. Let them do the leg work so that you can focus on growing your business into new territories.
The third challenge is to then get your product in front of prospective buyers in international markets. From paid search results and promoted social media posts, through to using global marketplaces like Amazon or eBay, a huge range of options exist for businesses to develop new customer-bases around the world. Again, mindset will be key.
Ultimately, it is important that businesses who have goods to sell consider looking to new markets in the weeks ahead. Entrepreneurs should not limit themselves to the places they have always sold nor the people they have traditionally sold to. Ecommerce is thriving, and so can businesses if they are ready to rise to the challenge ahead.