It will be scary, it will be difficult, but going global with your business is definitely an opportunity that retailers should be considering, attendees were told during a session at eTail East 2014.
So what should you know when it comes to assessing the challenges of going global with your business?
Erick Barney, former director of brand marketing for Motorcycle Superstore, said retailers should have their websites managed to include country-specific product pricing and product categories.
Barney said when it came to looking at potential markets, his company tried to get as much information about the type of volume that was out there along with the overall landscape of the market.
William Spruill, co-founder and CEO of The Global Data Consortium, said retailers should look at the growth opportunity in a particular market and localize it.
Assessing the Challenges of Going Global
One challenge retailers have found with going global is prioritizing the value of any given market they plan to enter.
Karen Kang, vice president of Accessory Geeks, said the company made the decision based on which countries its products were selling in. She said Accessory Geeks sells the same products in the United Kingdom and Brazil.
Barney said localizing product content should be done programmatically.
Barney said dealing with time in transit for shipments was a particular challenge in global ecommerce.
Spruill said it is important for retailers to track the appropriate order information.
Global Customer Service
Kang said working with customers in their native language presents a customer service challenge.
Barney said communicating effectively is the most critical factor in doing customer service right. He recommends retailers partner with someone who knows the language.
“Choose a partner that understands the local market,” Spruill said. “They will give you the best possible results.”