Brands should also weigh the benefits against risks before expanding into new overseas markets.
With the pandemic affecting businesses globally, retailers have started reviewing their ecommerce strategies and considering launching in international marketplaces. But expanding overseas comes with both risks and benefits. Retailers can face multiple challenges, from currency fluctuations and inflation to corruption and terrorism, while expanding to new territories.
Collaborating with established online brands and marketplaces through international partnerships can let retailers test products in new waters. International partnerships are low-cost and low-risk opportunities, which enable businesses to explore new territories and determine their next step.
Before stepping into unknown territory, companies should prioritise international website optimisation and localisation. Retailers should focus on elements like native currency and basic copy translation to offer an intuitive and seamless user experience for customers in all regions.
[4 minute read]