While the G7 countries — due to their advanced economies, developed infrastructure and economic cooperation with each other — constitute the lion’s share of the global ecommerce opportunity, other markets, like the BRIC countries, present online merchants opportunities for new revenue streams, too.
However, entering any of these markets successfully is no easy feat, so you should read this infographic from Cognizant as it explores the international ecommerce opportunity and its challenges.
For merchants of physical goods, shipping infrastructures can be obstacles to overcome, and localization remains a problem for everyone: Sixty six percent of the top 500 Internet retailers ship to 50 or more countries, yet only 28 percent of them display a localized website for their international customers. Only eight percent provide customer service in a language other than English. Other challenges for companies trying to do business overseas involve offering prices and payments in local currencies, and displaying applicable taxes in foreign markets.
It may be difficult to overcome these challenges single-handedly, but the payoff for capturing revenue from new markets is worth the effort. Take a look at your traffic sources and determine where visitors are coming from, and localize your website for them.
What challenges have you overcome on your way to expanding global ecommerce revenue?
Tell us about them in the comment section!