There is no slowdown in sight for global ecommerce, so now is the time to seize the moment. But before launching, there are many factors to process. Whether you’re a Fortune 500 or an SMB, you can drive prosperous cross-border growth if you tackle a few areas first. Here is a checklist of the high-priority items to consider.
Canadian fulfillment means purchasing large shipments overseas, then importing them to Canada, where they’re held by a third party until you receive an order and they ship it out. While it seems like a rather roundabout way of doing business, there’s a reason it’s becoming increasingly popular among U.S. businesses: It saves you money.
Those who only think of ecommerce marketplaces of major American and Chinese operators when they consider the global platform economy overlook opportunities this business model also offers SMBs. Merchants with complementary offerings can learn from the big players and serve their customers better together.
Driven by a pandemic-fueled lack of travel and more disposable income, the China luxury goods market grew 48% in 2020, doubling the country’s overall share, according to Bain & Company. The upward trend is expected to give China a leading share of 45% of the global luxury market by 2025, outpacing Europe and North America.
Passport, a provider of international parcel shipping services, has raised $12 million in a Series A round to build out its parcel supply chain network for ecommerce and DTC brands. Funding for the round was secured by M13 and included participation from Resolute Ventures, Precursor, Kleiner Perkins, RiverPark and Republic.
The UK is set to exit the single market in just four short months. As you seek out ways to mitigate potential issues at the border post-Brexit, what alternative solutions have you considered? Implementing a third-party Merchant of Record (MoR) relieves your business of VAT challenges, enabling you to expand to new markets quickly.
Retailers, direct-to-consumer brands, marketplaces and marketplace sellers riding the lockdown boom in cross-border ecommerce are getting a massive wake-up call today as global postal rates into the United States start … Continue Reading →
The European Union is making sweeping updates to how retailers need to calculate Value-Added Tax (VAT) when selling goods into its member countries, effective July 1, 2021. Peter Boerhof, EU VAT director for Vertex, explains the various changes and their significance, and the impact for companies selling goods into Europe.