5 Tips for Successful International Online Retail Trading
By David Trolle | Wednesday 12th March 2014Global Trading
Targeting new countries for online trading is becoming increasingly popular.
It’s already a global market, but increasing numbers of businesses are creating websites targeting specific territories.
Statistics from eMarketer suggest that global ecommerce sales will rise from $1.1 trillion in 2012 to $2.0 trillion in 2016.
This massive increase poses opportunities and challenges for retailers. They face many questions such as: how can they tap into individual markets, how can they build relationships with new communities and cultures and what are the differences with UK markets.
A report entitled ‘Britain’s Retail E-mpire: A Study on the Internationalisation of Britain’s eCommerce Businesses’ from OC&C Strategy Consultants and Google UK makes fascinating reading
It suggests smaller businesses are embracing international faster than large business, Europe and Asia will be key growth markets for UK retailers and 53% of UK retailers offer no foreign language options.
Tips for Successful Online Trading in New Territories
In this Retail Buzz, Summit’s head of Direct Response, Dave Trolle, offers 5 tips for successful online trading in new territories.
- Understand your target territories
- Use native speakers to translate your website copy
- Focus on a territory’s most-used search engines
- You’ll need expertise in the territory’s markets
- Don’t assume your device strategy is the same as the UK
Watch the video for in-depth actions for each tip.
