{"id":108226,"date":"2022-03-03T20:26:10","date_gmt":"2022-03-03T20:26:10","guid":{"rendered":"https:\/\/www-dev.channeladvisor.com\/blog\/uncategorized-au-2\/why-cross-border-commerce-is-an-opportunity-you-cant-afford-to-pass-up\/"},"modified":"2023-12-15T20:21:50","modified_gmt":"2023-12-15T20:21:50","slug":"why-cross-border-commerce-is-an-opportunity-you-cant-afford-to-pass-up","status":"publish","type":"post","link":"https:\/\/old.rithum.com\/au\/blog\/why-cross-border-commerce-is-an-opportunity-you-cant-afford-to-pass-up\/","title":{"rendered":"Why Cross-Border Commerce Is an Opportunity You Can\u2019t Afford to Pass Up"},"content":{"rendered":"

Global e-commerce is more accessible than ever. According to Euromonitor International, in 2021, cross-border e-commerce sales reached nearly $3.2 trillion \u2014 and it\u2019s set to expand even further. Yet, selling in multiple countries is not without risks and complications. With careful planning and execution, retailers can reap worthwhile rewards that outweigh the effort.\u00a0<\/span><\/p>\n

Retail TouchPoints just released a <\/span>special report<\/span><\/a> to help marketers better understand the risks, nuances and must-know details associated with taking business abroad.\u00a0<\/span><\/p>\n

Pack Your Bags for Cross-Border Commerce<\/b><\/h2>\n

If you\u2019ve successfully sold domestically, setting your sights on international markets might be a logical next step. There\u2019s a potential to reach untapped markets, expand your global footprint and delight new customers with what your brand has to offer. But choosing to scale abroad should never be decided on a whim. Cross-border e-commerce can be both expensive and time-consuming \u2014 and sales could even fizzle out entirely without intentional, intelligent planning.<\/span><\/p>\n

To succeed, e-commerce teams must explore four key considerations of conducting international business:<\/span><\/p>\n

<\/b><\/b>1. Gauge demand and pinpoint your value proposition first. <\/b>
\nWhile excitement for a new market is good, entering it without caution or proper research could result in failure. Choose foreign markets where you\u2019re likely to have success, and do an analysis of demand to confirm. The resale market in countries you\u2019re considering may be a good indication of latent demand for your products that you could meet with better customer service and product quality. And if there\u2019s already competition, determine how your brand will stand out.<\/span><\/b><\/p>\n

2. Seek out compatible marketplace partners to build an initial foundation.\u00a0<\/b>
\nEven the most prepared retailer lacks the regional expertise of a company that\u2019s been operating there for years. Engaging a partner in the country you want to do business in is a great way to get ahead of important details like last-mile logistics, the country\u2019s retail trends and steps to build brand recognition. Marketplaces make great cross-border partners because of the existing digital infrastructure and install base. When selecting a marketplace, verify the amount of control you\u2019ll have. While some marketplaces exercise significant control over branding, others, like Tmall in China, allow brands to design their own virtual storefront and have a say in the overall customer experience. In addition, choose a partner whose values are consistent with your own so there are no surprises in how you jointly conduct business.<\/span><\/p>\n

3. Understand challenges that can impact pricing. <\/b>
\nSelling cross-border means dealing with a potentially complicated web of taxes, regulations and other fees \u2014 and underestimating the costs can inflict a serious hit to your bottom line. It\u2019s not enough to just pass along costs to the customer, as presenting an unexpected fee just before checkout can stop a sale cold. Instead, invest in digital tools that will automatically handle adjustments, and be transparent with your customers about the fees they\u2019ll incur.\u00a0<\/span><\/p>\n

For example, Bling Jewelry<\/a> uses Rithum\u2019s automation capabilities for added clarity that helps them quickly adapt to product and pricing changes, account for currency exchange, reduce errors and more. When adjusting the price in one place, Rithum automatically changes it in every currency within a matter of minutes.<\/b><\/p>\n

4. <\/b>Look to China\u2019s mature, rapidly changing market.\u00a0<\/b>
\nIn 2020, China\u2019s e-commerce imports and exports reached a whopping $266.7 billion, according to Chinese customs data. The popularity of foreign brands among Chinese consumers makes the country a great target for retailers seeking international growth. However, China is a fast-paced market that requires constant adjustments to keep up with customer trends and new regulations. While investing in the Chinese market can potentially yield high profits, retailers must be ready to act quickly and rely on local support from partners.\u00a0<\/span><\/p>\n

Are <\/span>you<\/span><\/i> selling everywhere you could be? Rithum <\/span>recently announced<\/span><\/a> its support for <\/span>more than 300 global channels<\/span><\/a>. Contact us to <\/span>request a demo<\/span><\/a> and learn how you can take advantage of these booming international markets.\u00a0<\/span><\/p>\n

Plus, <\/span>download the full report<\/span><\/a> to find out which continent poses the next great cross-border opportunity for you.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Global e-commerce is more accessible than ever. According to Euromonitor International, in 2021, cross-border e-commerce sales reached nearly $3.2 trillion \u2014 and it\u2019s set to expand even further. Yet, selling in multiple countries is not without risks and complications. With careful planning and execution, retailers can reap worthwhile rewards that outweigh the effort.\u00a0 Retail TouchPoints […]<\/p>\n","protected":false},"author":1,"featured_media":71652,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"tags":[11948,10007,9575,12026,12028],"asset-type":[13744],"audience":[13407,13410],"bio":[14335],"topic":[15167,5153,15242],"class_list":["post-108226","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-channels-au","tag-china-au-2","tag-e-commerce-au","tag-international-e-commerce-au","tag-international-expansion-au","asset-type-blog-au","audience-brands-suppliers-au","audience-retailers-au","bio-rithum-team-au","topic-scot-au","topic-marketplaces-au","topic-rithum-solutions-au"],"acf":[],"yoast_head":"\nWhy Cross-Border Commerce Is an Opportunity You Can\u2019t Afford to Pass Up - Rithum<\/title>\n<meta name=\"description\" content=\"Learn four considerations for entering into the risky, yet opportunistic world of cross-border commerce.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Cross-Border Commerce Is an Opportunity You Can\u2019t Afford to Pass Up\" \/>\n<meta property=\"og:description\" content=\"Learn four considerations for entering into the risky, yet opportunistic world of cross-border commerce.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/old.rithum.com\/au\/blog\/why-cross-border-commerce-is-an-opportunity-you-cant-afford-to-pass-up\/\" \/>\n<meta property=\"og:site_name\" content=\"Rithum\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/facebook.com\/rithumcommerce\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-03T20:26:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-15T20:21:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/old.rithum.com\/wp-content\/uploads\/2020\/12\/globetrotter_340x340.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"340\" \/>\n\t<meta property=\"og:image:height\" content=\"340\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"8347pwpadmin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@rithumcommerce\" \/>\n<meta name=\"twitter:site\" content=\"@rithumcommerce\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"8347pwpadmin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/old.rithum.com\\\/au\\\/blog\\\/why-cross-border-commerce-is-an-opportunity-you-cant-afford-to-pass-up\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/old.rithum.com\\\/au\\\/blog\\\/why-cross-border-commerce-is-an-opportunity-you-cant-afford-to-pass-up\\\/\"},\"author\":{\"name\":\"8347pwpadmin\",\"@id\":\"https:\\\/\\\/old.rithum.com\\\/au\\\/#\\\/schema\\\/person\\\/80792d02d04eff25186ea9ace95c9308\"},\"headline\":\"Why Cross-Border Commerce Is an Opportunity You Can\u2019t Afford to Pass Up\",\"datePublished\":\"2022-03-03T20:26:10+00:00\",\"dateModified\":\"2023-12-15T20:21:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/old.rithum.com\\\/au\\\/blog\\\/why-cross-border-commerce-is-an-opportunity-you-cant-afford-to-pass-up\\\/\"},\"wordCount\":680,\"publisher\":{\"@id\":\"https:\\\/\\\/old.rithum.com\\\/au\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/old.rithum.com\\\/au\\\/blog\\\/why-cross-border-commerce-is-an-opportunity-you-cant-afford-to-pass-up\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/old.rithum.com\\\/wp-content\\\/uploads\\\/2020\\\/12\\\/globetrotter_340x340.jpg\",\"keywords\":[\"channels\",\"china\",\"E-commerce\",\"International E-Commerce\",\"international expansion\"],\"articleSection\":[\"ChannelAdvisor\",\"Marketplaces\"],\"inLanguage\":\"en-AU\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/old.rithum.com\\\/au\\\/blog\\\/why-cross-border-commerce-is-an-opportunity-you-cant-afford-to-pass-up\\\/\",\"url\":\"https:\\\/\\\/old.rithum.com\\\/au\\\/blog\\\/why-cross-border-commerce-is-an-opportunity-you-cant-afford-to-pass-up\\\/\",\"name\":\"Why Cross-Border Commerce Is an Opportunity You Can\u2019t Afford to Pass Up - 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