July 1, 2020
Unlocking a world of sales – how to Go Global with your eCommerce
Cross-border shopping is growing and cross-border e-Commerce is estimated to reach $1 Trillion in 2020,yet 1 in 5 British e-commerce sites are missing out on global sales.
Customers overseas and in foreign climes could represent a significant sized opportunity for the growth of your business. Yet every element of your website must be on-point if you’re to convert the typical cross-border shopper. Here are five website features you must get right if you’re hoping to grow through global commerce:
Displaying your website in the native language and presenting products in the local currency are two non-negotiables for a painless shopping experience. But beyond these localisation basics should be content marketing that centres around your audience in each specific region.
51% of consumers considering cross-border purchases are primarily concerned about the high shipping costs and the long delivery times.
Just as there are reasons why shoppers seek out overseas websites, there are also reasons that balance this out. Delivery timescales, cost, import fees and foreign currency payments are four primary concerns that could tip the scales in the favour of an abandoned shopping cart.
20% of shoppers worry about import costs and 11% about paying in foreign currency.
49% of U.S. customers buy from abroad for cheaper prices, 43% for brands that aren’t available in the U.S., and 35% because the speciality products they want aren’t available in the U.S.
Why are shoppers making their way from their country to your websites? While cheaper prices, brands and speciality products might be the draw, this may not be the case with your business.
So take the time to analyse the behaviour of your overseas shoppers while on your website. Where have they arrived from? What pages do they visit? What products are they looking for?
47% of online shoppers have abandoned a purchase at checkout – more than 60% because their preferred payment method wasn’t available or the payment process was too complicated
The stat above goes to show that if you fail to please your customer at the checkout, the chances are high that they’ll head for the doors.
You already accept credit and debit cards, but international shoppers are different, with 50% of them preferring to pay with an alternative payment method (in the Netherlands, 57% of shoppers pay using ‘iDEAL’– an inter-bank system local to the Dutch market).
Other alternatives include: real-time bank-transfers; prepaid vouchers; e-wallets; local cards; payment apps; cash-payments for online purchases; crypto-currencies; and payments via ATMs.
57% of respondents in Poland and 59% in Saudi Arabia preferred cash to buy online last year.
India, Romania, Russia also prefer to pay in cash. To serve these markets, you’ll need to offer a cash-on-delivery courier service. This might be a new concept to you given the western world’s preference for credit and debit cards, but many largescale shipping companies offer so-called Collect on Delivery (C.O.D). Learn about UPS’ C.O.D. service here.
