If you've just started an ecommerce business, you may be wondering what steps you can take to grow it. The good news is it doesn't have to be too complicated. An easy strategy is to simply make your product available to a wider customer base. This will likely involve opening your business up to international customers. With customs, import and export regulations, and currency considerations, this may initially seem daunting. It is, however, worthwhile putting in the time and effort to ship your product worldwide. Read on to find out why!
Why Shipping Internationally Is Important
International shipping has the capacity to create a major leap forward for your ecommerce business. When done right, it will significantly improve your sales and engagement, both online and offline, and enhance your profits. As an international company, you need to be ready to deal with shipping costs in different currencies. Some people feel this will prevent them from expanding internationally, however we prefer to look at it as an investment into your company. More customers means more sales which means more profit, so it’s very worthwhile copping the shipping costs and currency conversion fees.
The Advantages of International Shipping
When it comes to international shipping, the advantages of engaging with international customers are significant. You will not only generate more sales from a more diverse customer base but will also increase knowledge of your product and business. More people will be talking about your product, which will be great for word-of-mouth recommendations.
If your business is purely online, then shipping to different regions around the world is easy. You can simply visit different countries with your website and see which store they use, then follow the relevant shipping methods.
However, most ecommerce businesses run physical stores. That means you need to ensure that all your products are fully stocked and available in the locations your customer base prefers. To do this, you need to ensure that your inventory is properly processed and accounted for. This could mean keeping records to do with the product and its country of origin and importing or exporting goods that are ready to go.
The Challenges of International Shipping
The reasons why international shipping is a popular option is that there is potential for significant revenue with almost no out-front investment. This is especially true for overseas businesses that are targeting the consumer market in the U.S. or Europe.
Expanding your business internationally does, however, mean you will need to investigate import and export regulations and customs requirements. You can check out the resources section on the ISS website to learn more about this. You will also need to stay on top of currency conversions and watch out for hefty international transaction fees!
While there is no easy way to increase your sales without real business knowledge, the international market is one of the fastest-growing areas in ecommerce. If your company is of any size, making it more visible to international customers could generate significant sales. With global GDP predicted to increase 4.9% in 2022, and international online sales reaching $2 trillion, now could be the time to put your product out to the world!
If you’re looking to scale your business internationally, don’t hesitate to reach out to ISS Shipping. We are more than happy to walk you through the process and get your product shipped internationally quickly and easily!