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The e-commerce market continues to develop rapidly all over the world. Every year, innovative e-commerce tools are increasingly expanding the possibilities of promotion, presentation of goods on various platforms, as well as their delivery to customers. And not only on the territory of the country you work in but all over the world.
A great way to expand your sales market is to sell goods abroad. What are the benefits, how to start, how to avoid typical mistakes, and correctly organize the work – we will tell you today.
Benefits of International Shipping
Did you know that many Americans, Japanese, and residents of European countries increasingly began to give preference to goods from Australia, for example? The fact is that domestic manufacturers offer goods made from natural raw materials. Consistently of good quality and at affordable prices.
How to sell abroad, and is it profitable for the business? Let’s consider all the pros of an online store entering the international market.
- Unlimited business scaling – there are no territorial restrictions. You can sell anywhere – even in Guatemala. The main thing is to know the nuances. About them a little later.
- Financial independence from the exchange rate. It is not forbidden to sell for foreign currency. This is a big plus under the different economic conditions.
- Weak competition. If you choose the right niche, it may turn out that your business is practically a monopolist. Especially if you offer foreign buyers hand-made goods or authentic items related to your local culture, history, & art.
Take into Account:
Delivery nuances. You have to come to terms with the fact that you depend on logistics companies and work by their rules. So it is very important to choose a good, proven, and professional freight logistics company.
Complexities of the language. You need to understand that with access to a foreign audience, the site will have to be refined. A multilingual online store is the best possible option, but not available to everyone at first.
Knowledge of the language is also useful when communicating with foreign clients. Interactive translators do not always help in this matter – many of them don’t take into account the specifics of the vocabulary.
The specifics of customer service. Overseas consumers are accustomed to high-quality service – increased attention, unrivaled service, responsive customer support. Provide in advance the terms and conditions of the sales including your return policy, as well as the strategy for providing technical assistance.
What is in Demand
Expanding your sales geographically is a great way to make money. And it becomes, even more real, provided the offered product is one of a kind.
If you produce a unique product, offer it at a price adequate to the market, consider that you are far ahead of your competitors. Remember you, as a manufacturer, are also responsible for the quality of the products.
According to researchers, clothing made from natural fabrics, eco-cosmetics, and household appliances is in the greatest demand among foreign buyers. Whether your business is at the top of the buyers’ top – consider this from the very beginning.
Habit of Saving
The habit of saving is a distinctive feature of customers all over the world. Foreign buyers will also be happy to buy an analog at a price slightly below the market average. In addition, it is worth remembering that they will have to spend money on delivery as well as wait 3-4 weeks for the package to arrive. Compensate buyers’ expectations and costs with a pleasant value for the goods – everyone will win.
Researching the competitive field gives you the opportunity not only to correct your mistakes but also to stand out among similar products. How to sell abroad and be at the top for customers?
- Check to see if any of the overseas sellers offer products similar to yours. This can be done through a search on marketplaces eBay, Etsy, or through a Google search. Study the USP of your competitors. Come up with something new by articulating your benefits.
- Study the sites of direct competitors. Look at them through the eyes of a buyer. What do you like and what absolutely do not? Such work on other people’s mistakes will help create the best version of your resource.
- Consider the assortment of competitors, their advertising strategy, style of communication with customers. Compare. Make adjustments as needed. In promoting goods, the mentality of the inhabitants of the countries where business expansion is planned plays an important role.
Prices and Shipping
Study the pricing policies of foreign competitors and develop your own. Why reinvent the wheel when you only need to compare? Consider the shipping cost and determine whether you will include it in the cost of the goods or the buyer will pay for it separately.
The free shipping feature is very attractive to foreign buyers. It is probably worth considering this option when ordering for a specific amount. Or, initially, include the cost of delivery in the price of the product. Customers will be pleased to see the phrase “Free shipping”.
Entering the international business arena and selling goods abroad is an excellent option for further development and scaling. However, it is important to take a new step seriously: conduct preliminary marketing research, analyze the foreign market and potential competitors. Seriously consider your product and USP from the perspective of a foreign consumer, adapt the product for foreign buyers – if necessary, and also take into account all possible costs and risks.