eCommerce age: Cross border commerce: Opportunities across the sea

While cross-border e-commerce requires an investment in terms of upfront planning and logistics, it can be a smart strategy for businesses. Selling internationally can open your business up to much larger and more varied markets. Selling in different time zones such as the UK and US allows you to sell around the clock, with one market awake and online while the other sleeps. Additionally, selling in multiple markets can help with distribution of excess stock. The variety in trends and consumer habits in various countries increases your likelihood of shifting this stock. While for example, winter coats may have gone out of season in the UK, they will be required elsewhere, therefore extending the lifespan of your products. All of this is a benefit for brand awareness and potentially an increase in sales.

With so many opportunities for cross-border e-commerce, and technology which can make expanding into multiple territories simple, it is no wonder that three quarters of C-suite professionals in our survey of consumer electronics businesses said they are planning to expand into four or more countries this year. Remaining in one territory could be a missed opportunity for brands in 2023 and beyond. But one thing must be front and centre when assessing and planning ventures into new markets, and that’s profitability.  If a business can invest the time and research it takes to expand into international markets profitably, it can offer brands growth opportunities despite a challenging economy.

Read the full article with Vladi Shlesman, Managing Director, EMEA, in eCommerce Age here