What is global expansion?
Successful global expansion requires a formal plan for establishing roots in a new market, building a presence and maintaining ongoing business operations. Retailers can reduce costs – and risks – by working with global expansion experts who understand the unique nature and requirements of their target markets.
The international ecommerce market is more fruitful than ever for retailers looking into global expansion. Standing in the way of global retail success, however, are a number of pervasive challenges. Import/export restrictions, currency fluctuations, the need to be transparent with total costs at checkout, cultural norms for product pricing and payment method expectations make up the complicated system of cross-border ecommerce rules and regulations.
First and foremost, if consumers don’t think your site looks localized, they will quickly move on. This can be as simple as poor translation, or unavailability of the page in their native language. Shoppers also want to view and buy products in their local currency. Imagine how frustrating it might be to see only £GBP or ¥CNY if you prefer to pay in U.S. dollars, especially having to do the currency conversions yourself.
Similarly, prices should be adjusted to coincide with local norms. The number of cents matter much more, psychologically, to your customer than they do to your bottom line. Consider rounding up or down on a country-by-country basis, so that local shoppers are naturally comfortable with your prices. Much in the same way, payment method options should mimic domestic transactions, so the experience feels familiar to your international customer.
Add in the logistical challenges involved with international shipping and returns, and you may want to just throw in the towel now. To be successful on an international scale, businesses must solve problems such as high shipping costs, lengthy delivery times and difficulty tracking packages. What’s more, consumers expect to have different shipping options, like express or standard shipping, and believe that international returns should be customary.
What if there were a way to successfully navigate global expansion without having to worry about all of these factors? Global ecommerce solutions enable you to do just that, by streamlining the process from start to finish.
How You Benefit
Building and maintaining in-house cross-border ecommerce capabilities is complex and timely. Likewise, hiring separate contractors to handle each of your various localization and shipping concerns could quickly become a massive headache. Cross-border ecommerce solutions centralize and consolidate every aspect of global ecommerce, from purchasing, to localization, to customs and compliance, ensuring a high level of quality and consistency. Even better, you won’t have to worry about international shipping rules and regulations, or assume the associated risks of noncompliance.
What Pitney Bowes Offers
With Borderfree Retail from Pitney Bowes, businesses can eliminate the headache involved with cross-border ecommerce. Our end-to-end solution takes care of the details and logistics, from demand generation to delivery of packages, with unparalleled service throughout the process. Customers shop in their local language and currency, and product pricing and promotions are tailored to country-specific norms. We become the Merchant of Record for all packages, handling international shipping and returns, and providing parcel protection and tools for package tracking. As a result, you can focus on what you do best: creating and delivering great products and customer experiences.
Learn more about Pitney Bowes Global Ecommerce solutions.