According to the latest statistics, eCommerce is one of the fastest growing and most profitable industries in the world. Every year, more and more people are getting involved in online shopping. In case you are interested in using this large industry to make money, you should know that there is more than one way to
The abundance of e-commerce platforms in the market today tells you there’s a stiff competition as the different software work to outdo each other. Platforms such as BigMoney, Shopify, Magento, and Woocommerce have dominated the market for the past few years. They have worked tirelessly to build their brands, and their success shows through their devoted communities and users.
All the leading Global E-commerce Platforms have certain traits in common which make it a cumbersome task when picking one for your online business. These are some of the shared yet essential characteristics to look for before committing your time and money in a Global E-commerce Business.
After starting an online business, the long-term goal is to see it grow into an international brand. Since you intend to make a sale, your site will attract people from different nationalities who will browse through your page to make a purchase.
A global e-commerce platform must, therefore, see to this long term goal by offering multiple payment gateways. Although it’s easy to settle for the most popular USD and Euro currencies; having additional currencies from various geographical locations such as New Zealand Dollar, GBP, Australian Dollar, and Canadian dollar prevents abandoned shopping carts and helps protect your bottom line due to exchange rates.
It’s also a simple yet effective way of creating loyal communities. When their currency is part of your business, they feel valued and keep coming back for this convenience alone.
Multiple currencies also help create consistency in the pricing figures. When the prices fluctuate due to the various exchange rates, they make it difficult for clients to keep up especially when it’s a foreign currency.
Multiple sites are versatile and flexible especially with brands that are looking to grow their products line and target different markets. As an online business, you must have analytics that will help you optimize your business. Through a multi-site supported e-commerce platform, you can easily customize the message of your product to reach the target market with ease.
Some products take time before they sell because of a crowded e-commerce site. Categorizing the products in different sites helps them to be found with ease and thus increase their ROI. It also helps with SEO through organic searches. Online merchants who have various sites have the potential of increasing their online traffic through organic search than those who have only one site.
An online shop can increase the effectiveness by having various collection stores spread across the globe. For most organizations, having a site that points to a specific geographical area gives it a personalized touch to the natives. It’s sensitive to the culture, language and daily activities of the geographic area which makes it easy to accept and incorporate as part of the local business rather than a foreign entity.
Similarly, the prices reflect the local currency which eases the purchasing process without referring to the conversion rates and the current foreign exchange amount applicable. E-Commerce websites such as Shopify allow online investors to expand globally by having multiple warehouses spread across the globe.
Multi-stores creates the needed trust between the merchant and the local clientele which results in loyalty. The loyal customers are what makes the business grow gradually over time.
Multiple Payment Methods
Most customers keep coming back or give favorable recommendations because of the experience they had the first time. Customer experience is, therefore, a vital component of every online business. Payment method can contribute to poor or excellent customer experience which can either increase or lower your sales.
The prominent E-commerce platforms offer the option of having more than one payment option to increase the user’s convenience. Some of the most popular payment methods of payment are credit cards from various brands and bank transfers.
If you have a competent platform for running your online business, you will beat most of the competition globally when you have several payment options. That ensures that you’re not only a popular brand in the local business but also other geographical locations as well.
Multiple Taxation Methods
Dealing with various nationalities may get complicated if you don’t have the right software to calculate orders and taxes. A competent e-commerce platform has features that automatically calculates the order amount and includes the required amount of tax for the items purchased.
Although this varies from country to country, it’s an integral part of online business, and you cannot overlook it. As an online business, you have to work on the delivery of the package once the client makes a purchase. The package must include the package details, the shipping costs, the order amount and taxes applicable.
There are many benefits of having an online presence that is comprehensible in several dialects. It gives you a competitive advantage over your competitors and increases your client base.
BigCommerce has inbuilt multilingual software that automatically picks the default language of various geographical locations. Shopify has many apps that support different languages as well. Although English is a universal language, a large number of people in the world use it as a second language and instead have their local native dialects.
To win as many people as possible in your business, use an international e-commerce business platform that supports various languages from all over the world. Partly, most cancellations and returns are due to lack of understanding. When you use someone’s native language, they understand what they’re getting into before hitting the final button.
The magnitude of online business is predicted to increase immensely in the next few years. Currently, a large number of people are turning to e-commerce websites to make their purchases.
As an online business investor, you should have an e-commerce platform that supports most of the basic functionalities. The ultimate result should increase your clientele and put you on the global map. Besides, it also helps to stay ahead of the competition who may not consider an e-commerce platform as a worthy investment for their online business.
Nowadays, there are many tools and resources that can help people create online store sites. With their help, almost any person can start an online store after a short period of time. They don’t need any technical or other skills to do this. So if you are looking for a way to create an online
Doing business online is one of the latest trends in the world of business. The Internet has made many things easier and it turns out that business activities are one of these things. Most people believe that they cannot sell online for free because when someone mentions eCommerce they usually think about eBay, Amazon and
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