What is the role of eCommerce?
With many previous retail expansions focusing on the opening of more physical stores, our increasingly digital-led society has seen a shift in this trend, with merchants now prioritising obtaining an online presence for their brand.
eCommerce can have a number of roles. Some retailers choose to set up an eCommerce store to support their existing physical stores, with other brands will choose to keep their entire business online.
eCommerce provides a platform for businesses to sell their products and services, with the ability to reach users across multiple devices such as phones, tablets and desktop.
Whilst a switch from bricks to clicks may not be suited to each and every brand, it can certainly open doors for many.
Expanding audience reach, offering a high class customer experience, reaching customers quicker and building customer loyalty, are just a few of the many benefits of moving a store online.
Global eCommerce growth
As already covered, there are multiple benefits that come with moving a store online.
We are going to take a more detailed look at one point in particular – expanding audience reach.
In particular, we are going to discuss how setting up an eCommerce store can help retailers to tap into global markets and create a more global customer base.
Read on to explore some of our top tips when forming a global eCommerce growth strategy.
What do you need to consider with global eCommerce growth?
Before beginning your journey to global eCommerce growth, it is crucial to do some background research to understand if your business will be successful on an international level.
This is an important starting point and can serve as an indicator as to whether your global expansion will be worthwhile from a financial point of view. Which countries are worth the investment? Which countries should you avoid?
Next up, who are your main competitors?
You may know your existing top rivals are, but this could all change once you cross the border. We advise conducting a full competitor analysis to identify potential target markets to discover any existing gaps.
Another factor to consider is how you want your site to look and operate in another country. Questions that may need to be answered include:
- Do your products need to be modified?
- Will your price point work within the market?
- What distribution channels can you use?
Once you’ve figured out all the above, we would advise taking the process slowly and step at a time. There’s nothing smart about speeding ahead. Infact, it can be dangerous to blow your entire budget on one big change, which you don’t even know will serve you yet.
5874 Commerce: eCommerce experts ready to help you
Looking to help get your brand online? Need to improve your global strategy for an existing eCommerce store? Perhaps you’ve feeling brave enough to take on the challenge yourself, but the chances are you are going to need some expert help.
And the simple answer to that is – 5874 Commerce. A multi award-winning eCommerce agency with proven experience in driving eCommerce growth and digital transformation for an extensive range of clients.