This is an excerpt from Ryder E-commerce’s latest ebook “Unleashing the power of creative channel expansion for D2C brands” by Global-e, a cross-border solution that paves the way for brands to expand globally. Check out the full ebook here.
The rise of social media is driving new opportunities for retailers and brands to reach and engage with consumers worldwide. From Europe to Asia, the Middle East to Latin and North America, billions of consumers are communicating in an online landscape without borders, where trends spread instantly across the globe. This monumental shift is fueling the cross-border e-commerce market, which is expected to reach a value of 7.9 trillion U.S. dollars by 2030.
Growing international website traffic and global followings have driven brands across the globe to realize the huge opportunity in selling directly to consumers; not just domestically, but also to their followers around the world.
However, when it comes to global channel expansion, retailers and brands are faced with many challenges, including leveraging global traffic and maximizing their cross-border growth potential.
While social media has created a borderless landscape, it is important for online retailers to understand that the global e-commerce market is not one entity; it’s comprised of hundreds of individual markets – each with unique characteristics and consumer preferences that are constantly changing and evolving. To leverage international traffic and grow conversion rates, brands need to offer consumers a seamless experience, allowing them to shop the way they are accustomed to when buying online.
By offering a localized customer journey, brands can remove many of the barriers that prevent shoppers from buying outside of their market. This includes:
However, to maximize international traffic conversion rates, brands need to delve deeper into consumer preferences and local market conventions. Local know-how, data-backed insights, and industry benchmarks allow e-commerce retailers to tailor their propositions to each market and better cater to customer demand.
By setting an enhanced experience that is optimized per market, in alignment with proven best practices and with their brand strategy, e-commerce retailers can boost online sales and expand into new markets while preserving margins and hitting business KPIs.
Brands and retailers selling online internationally should be agile to constant shifts in global market trends and consumer buying preferences and ensure they are able to swiftly adjust their proposition and keep it up to date. Moreover, while the shopper experience takes most of the focus when it comes to cross-border e-commerce, there are many challenges that can make this form of channel expansion complicated and time-consuming for retailers.
The logistics of international selling encompasses far more than just global shipping. From tax and duty compliance and remittance, changing import regulations, fraud prevention, and payment processing to international customer service, the long list of things that brands need to manage poses a huge barrier to global digital expansion.
Partnering with a specialist cross-border provider that covers all these aspects of international online trading reduces the risk and the complexities involved in cross-border selling, enabling brands to expand internationally in a simple and cost-effective manner.
The rapidly growing cross-border e-commerce market presents a massive opportunity for brands to accelerate their D2C business. A comprehensive solution, that combines advanced technology and streamlined global operations, and provides ongoing expert guidance and support, can help brands to fully capitalize on their global potential, increase their customer base and generate new revenue streams.
Want to learn more? Check out the rest of our ebook on how brands can effectively expand their selling channels and find more opportunities to creatively engage customers:
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