One of the big advantages e-commerce businesses have over their bricks and mortar counterparts is that they are not restricted by location.
Unlike high-street stores, anyone in the world with an internet connection can visit your online shop, regardless of where it is based.
The only stumbling block between your store and the customer on the other side of the world is your ability to take their online payment and fulfil the request.
One of the ways in which you can eliminate the first obstacle is by obtaining a multi-currency merchant account. Then you will not only be able to display prices in local currencies across the world, but also take card payments in the foreign exchange that customer is familiar with.
Following this, you will need to get the right shopping cart. Many, but not all will offer an option to convert prices of your products into various currencies, depending on where the consumer is based. Make this feature one of the key requirements when choosing your cart.
Even if you do not envisage making such transactions right now, this may change as your company grows. Thinking ahead can save you from what could be costly and complicated adjustments later on.
The next crucial issue you will need to resolve is your ability to fulfil orders coming from abroad. There are countless possibilities as to how you can achieve this.
You could hire an order fulfilment company. They will take care of sourcing and delivery of your stock. You just need to pass any relevant orders onto them.
Alternatively, depending on your strategy and order volumes in certain countries, you could opt to use a drop shipping company. That way you will not need to buy any stock in advance, instead taking advantage of local wholesalers and manufacturers who can complete your orders as they come in.
Some businesses choose to ship from their main warehouses in the UK, charging an additional fee for shipment abroad or incorporating such costs into their base prices. This is a popular option for companies just starting to trade in foreign countries.
Crucially you will need to research sales trends in various countries, to check whether people there demand your products or services; perhaps you can sell it to them at a better price.
To summarise, your website and delivery network need to be geared towards foreign consumers in order to make the venture profitable.
It is worth remembering that at a time when certain markets are struggling due to recession, others continue to grow; hence, this could be the right time for your e-commerce business to take advantage of this potential. Article Directory : http://www.articlecube.com
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