Whether you’re a brand new eCommerce seller or you’ve been in the game for years, it’s always a good idea to investigate global markets and see if your products can be successful in different marketplaces. There are many benefits to globally expanding your eCommerce store: from growing your customer base to balancing out seasonal sales differences, and currency or economic fluctuations. For example, you can do this by expanding from selling on eBay US to also selling on eBay UK and/or eBay Australia. That being said, before engaging in international eCommerce, you need responsible research, preparation, and the right product research tools to give your business the best chance of succeeding abroad.
You may already have the data to tell you where to begin
Take a few minutes to examine the analytical information you have for your online store. You may notice that you already have customers visiting your site from abroad. If you delve into the data further, it may be possible to determine a pattern among these global shoppers. Do you see a lot of visitors from the U.K.? If so, that might be a great place to begin your expansion as you already get visitors and customers from that country. You shouldn’t enter into global markets blindly; rather, arm yourself with relevant data to make informed decisions.
Your unique product can perform well abroad
Sellers who have been able to identify and sell a truly unique product are also strong candidates to transition to international selling. Having a unique product makes you a force to be reckoned with as you provide a distinct value that customers can’t easily find anywhere else. By promoting the special qualities and benefits of your product, you can reach consumers abroad that need or want what you have to offer.
However, it’s not always easy to identify those unique products that bring special value to the market. It can take sellers months or even years of product research and testing to locate a profitable product that also has market demand. With so many potential products to investigate, sellers can greatly speed up the process and accelerate their way to profits by using a product research tool for Amazon or an eBay marketplace research platform.
A product research platform provides an excellent way to gain access to critical data insights regarding potential products, such as product demand levels, market performance, marketplace expenses, shipping costs, tax estimations, and more. And, if they enable you to analyze hundreds of products at once across your choice of 16 different Amazon, eBay, and Walmart marketplaces with a bulk product analysis tool, imagine the time you can save!
Make your own village by leveraging partnerships and technology
They say it takes a village… Taking that expression toward the context of expanding internationally in eCommerce means you should create your own support network by investing in partnerships and platforms to ensure the best chance for success. Ecommerce selling tools can be a game changer when you are trying to: navigate costs associated with selling on new marketplaces, understand demand levels, win more Buy Box listings, and centrally manage product information. While each business will have different requirements and needs for various aspects, the number of online resources and apps available today make shipping internationally and managing products across global marketplaces much more simple and manageable. Logistics should no longer scare you off.
International eCommerce = increased revenue
By branching out into other international marketplaces, you are opening your business to millions of new customers and opportunities. It’s best to start slow. Amazon UK can be a good point of entry into European markets for Amazon US sellers, especially since it’s an English-speaking market. That being said, what if amazingly lucrative opportunities are just waiting for you with Amazon Germany? You do not have to blindly guess which international marketplaces will be best and most profitable for your products. Using a tool like Algopix lets you gain access to insights from 16 Amazon, eBay, and Walmart marketplaces (you can see the full list of marketplaces here).
You will never know what new heights you and your business are capable of if you don’t take that leap.
To begin your journey into cross-border selling, try Algopix’s free 7-day trial.