How to quickly expand ecommerce to new markets

Paul Espino

How to quickly expand ecommerce to new markets

You have a robust, effective ecommerce website for consumers in the country where your company is based. Now you want to replicate those features in an experience targeted to customers in other countries.

How do you provide global consumers with the same hassle-free shopping experience your flagship website offers? Ideally, you’d establish a quick, cost-effective process for expanding to additional markets and do it in such a way that you set yourself up for rapid success in the future.

Here’s how to do that.

1. Conduct thorough market research

Before diving into new markets, it's crucial to conduct thorough market research and identify potential target markets based on such factors as demographics, consumer preferences, and competition.

You can utilize market research tools and analytics to gain insights into consumer behavior, trends, and demand for your products or services in different regions. Tools like Similarweb allow you to analyze the competitive landscape, and Census Bureau helps you filter by demographics like age, income, year, and location. Exploring a few buyer personas that can help you identify the challenges, psychographic information, and buying behaviors may also be helpful.

If your company is just getting into the world of cross-border ecommerce, a new market that’s geographically close is probably a wise choice. For example, American brands frequently choose Canada as their first international market because of its proximity and well-developed logistics system. Similarly, in Europe, where several countries are close to one another, it can make sense to expand to neighboring areas first.

2. Optimize your ecommerce platform

Ensure that your ecommerce platform is optimized for global expansion. This includes localization features such as multi-language support, local currency conversion, and region-specific content. Make sure to simplify the checkout process to accommodate different payment methods and preferences, and consider expanding your storefront footprint by exporting your catalog to external marketplaces like Amazon, Facebook, eBay, Google Shopping, and others.

3. Develop tailored marketing strategies

Craft tailored marketing strategies for each target market based on cultural nuances, local pricing, consumer behavior, and preferences. You can also leverage social media platforms, influencers, and localized marketing campaigns to engage with your target audience effectively, and utilize search engine optimization (SEO) techniques to improve your online visibility and rankings in different regions.

4. Establish strategic partnerships

Forge strategic partnerships with local retailers, distributors, or ecommerce platforms to expand your reach and access new customer segments. Collaborate with influencers or brands who have a strong presence in your target markets to enhance brand awareness and credibility.

5. Address logistics and supply chain challenges

Address logistical challenges such as shipping costs, customs regulations, and delivery times when expanding into new markets. Optimize your supply chain to ensure efficient order fulfillment and seamless delivery experiences for customers across different countries.

One important element to consider when contracting third-party logistics (3PL) services is the duration of the contract and the cost associated with breaking large shipments into packs or grouped orders. Scaling 3PL can be challenging and costly if order volume doesn’t exceed inventory turnover.

6. Provide excellent customer support

Offer excellent customer support to promptly address the needs and concerns of your international customers. Provide multilingual customer service options and real-time assistance to enhance the overall shopping experience and build trust with your global customer base. An AI-powered chat feature can be a useful tool for this.

7. Monitor performance and adapt your strategies

Monitor the performance of your global expansion efforts using key metrics such as ecommerce sales, customer acquisition, and conversion rates. Continuously analyze market trends, consumer feedback, and competitors' strategies to adapt your approach and optimize your presence in different markets.

The bottom line

Expanding your ecommerce business into new markets presents immense opportunities for growth and diversification. Leveraging the power of social media, targeted marketing strategies, and strategic partnerships, you can quickly penetrate international markets and reach new customers.

Regardless of the stage of geo-expansion your business is in, Credera is ready to guide you in reaching new customers in new parts of the world. We have years of experience helping consumer brands and retailers expand their ecommerce operations locally and abroad, and we can assess your platform capabilities and help you better understand the level of effort involved in selling to new markets.

Schedule a call with our specialists to talk about building a strategy to launch into new markets.