{"id":143699,"date":"2024-08-13T14:04:36","date_gmt":"2024-08-13T14:04:36","guid":{"rendered":"https:\/\/www.rithum.com\/?p=143699"},"modified":"2024-09-16T04:13:32","modified_gmt":"2024-09-16T04:13:32","slug":"five-tips-to-grow-your-cross-border-e-commerce","status":"publish","type":"post","link":"https:\/\/old.rithum.com\/au\/blog\/five-tips-to-grow-your-cross-border-e-commerce\/","title":{"rendered":"Five Tips to Grow Your Cross-Border E-Commerce"},"content":{"rendered":"

Growth opportunities abound for brands and retailers expanding their e-commerce businesses internationally. However, there are challenges to navigate such as managing inventory across multiple countries. Cross-border e-commerce entails managing complex logistical and regulatory requirements that differ from country to country.<\/p>\n

Here are five ways brands, retailers, and suppliers can optimize selling to consumers globally.<\/h3>\n
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  1. Use automation to manage inventory, product information and catalogue translations at scale.<\/strong>
    \nIt can be challenging to manage inventory across diverse markets. Ensuring your product information such as product sizes, weight, and category are accurate can significantly impact shipping costs and compliance with local regulations. Translating product catalogues to suit local languages may also be necessary.<\/li>\n
  2. Optimise cross-border payments: Understand currency valuations and pricing in local currencies.<\/strong>
    \nAs part of a seller\u2019s pricing strategy, you should understand how currency valuations compare from country to country. Setting product prices in the target country\u2019s currency ensures competitiveness and market relevance.<\/li>\n
  3. Track global logistics and shipping paths through one platform.<\/strong>
    \nIt is necessary to accurately track inventory once the customer makes a purchase until they receive it.<\/li>\n
  4. Understand international legal entity, taxation and logistics requirements.<\/strong>
    \nEach country has its own tax and entity requirements that must be met to avoid legal complications.<\/li>\n
  5. Use technology to compete in cross-border e-commerce.<\/strong>
    \nSellers must assess and analyse competitors in each market they are selling in. Consumer preferences can differ greatly from country to country. There is no blanket strategy to stand out against competitors.<\/li>\n<\/ol>\n

    “Selling cross-border is a strong growth opportunity for retailers and brands but it’s not without challenges. One of the biggest obstacles for businesses is converting local currencies. Each country has unique taxation and entity requirements. Businesses need a unified solution to help streamline their operations across geographies. Rithum can help sellers convert cross-border payments in real-time,\u201d said Christian Gees, director, sales, EMEA at Rithum.<\/p>\n

    How to prepare for the global peak shopping season<\/h2>\n

    The holiday season kicks off as early as October worldwide. By preparing early, brands, retailers, and suppliers can optimise their online retail and digital marketing strategies. The demand is there \u2013 44% of global shoppers are willing to purchase an item from a retail site or online marketplace in a different country from where they reside, according to the 2023 Online Consumer Behavior Global Report<\/a>\u00a0by Rithum and Dynata<\/a>.<\/p>\n

    Rithum partners with a network<\/a> of the world\u2019s leading fulfilment and logistics companies to facilitate seamless cross-border e-commerce expansion. The majority of Rithum’s brands in EMEA sell cross border e-commerce. These partnerships ensure that sellers\u2019 products are efficiently tracked from purchase to fulfillment and delivery. Rithum\u2019s network gives sellers the ability to leverage localised expertise to manage the complexities of selling internationally.<\/p>\n

    Localise product content<\/h2>\n

    Selling cross border involves localising content. Rithum\u2019s features like Business Rules and Look Up List, can help brands ensure they are using the most searchable keywords for product titles and descriptions. For example, when an EU brand is selling into a US market or vice versa, Rithum must account for different keywords for items such as trousers vs. pants, or sneakers vs. trainers, etc. Rithum\u2019s Replace Word List function also adapts translations to be more search friendly.<\/p>\n

    Using artificial intelligence, Rithum\u2019s AI Magic Mapper<\/a> feature helps brands reduce time-to-site by automating categorisation. This helps reduce the time for sellers to onboard onto new global marketplaces.<\/p>\n

    Other ways Rithum can help include:<\/h3>\n