According to a recent report by eMarketer, global e-commerce sales are expected to grow 18 percent in 2014, compared to 11.5 percent in the U.S. Asia-Pacific is forecast to become the world’s top market for B2C e-commerce sales this year. The lesson here is that customer demand is out there at even higher rates than in theU.S.
Until recently, retailers and wholesalers frequently reached the conclusion that it was not worth their efforts to pursue sales in international markets. Prior to the advent of today’s global e-commerce solutions, businesses had two options: establish a physical presence in the new country or build a reseller channel. Both presented significant barriers to entry by virtue of the significant costs and legwork involved.
Now businesses have another option: an e-commerce solution that offers a simple, cost-effective way to enter international markets and have access to new customers. Features now available on e-commerce platforms include access to international third-party marketplaces like Amazon, eBay and Rakuten, foreign currency calculators, language translators and automatic shipping and sales tax calculators. We’ll discuss several of these features and their associated benefits.
Having an e-store website is essential and is the centerpiece of many business’ e-commerce solutions. The obvious challenge is to pull customers to that site, which often requires costly SEO and SEM implementation. With next-generation e-commerce that allows businesses to easily mirror their product offerings on third-party marketplaces such as eBay, Amazon and Rakuten, the customers are already there. More customers’ eyes on your product will translate to more conversions.
Currency Calculators & Language Translators
International customers are much like domestic customers in that they will abandon a cart or even avoid browsing your store if they believe the transaction could be overly complicated. Customers who can’t understand the product description or what the cost and shipping will be in their own currency are likely to skip the transaction. Effective global e-commerce platforms will include translators and multiple currency calculators. Customers who can understand the language and currency associated with the product will be more likely to buy.
Shipping & Sales Tax Calculator
The last thing a business wants to do is run afoul of a foreign country’s sales tax laws. Widely varying duty taxes and value added taxes can be confusing if done manually, but the superior e-commerce solution will automatically calculate these for you, ensuring the business doesn’t find itself skirting the laws. The shipping calculator should offer various types of options – catering to customers who want economy or speedy delivery – and should automatically calculate these costs, making it an even more attractive process for consumers.
How i95dev can help?
We’re sure you have many questions about how i95Dev can help your business implement a customized e-commerce solution to boost your sales globally.