The Rewards of Cross-Border Trade

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There are challenges to overcome in international business but there are also enormous rewards when you make progress.

The first thing you need to do is prioritize when expanding abroad.  For instance, focus on important issues like tax, customs, and the necessary infrastructure to deliver goods on time and keep customers happy. 

In this article, the authors look at why expansion is a good choice, and how automation can help you expand successfully.  They also offer a guide.

Why Sell Globally?

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A company that does business only within its own country will find itself at a long-term competitive disadvantage if it does not have a global strategy. Companies will need to eventually find new customers – and to be successful, global expansion is the only path to continued growth says Mark Waring. 

The easiest way to extend a global footprint is to sell on the web. It’s especially easy for sellers of subscription-based services and other digital goods (gaming, for example). Indeed, TSG noted in a recent study that the growth of the ‘Subscription Economy’ is a noteworthy, permanent trend. Even internet-based marketplace sellers of physical goods are finding it easier to set up warehouses and shipping solutions in other countries. 

Read on to learn about trends in North American cross-border commerce. 

The Global Ecommerce Playbook

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There are huge challenges when embarking on cross-border commerce.  Yet nearly 84% of global ecommerce sales happen outside of Western continents such as North America and Europe, and overall sales are expected to reach $4.8 trillion USD by 2021.

Some of the world’s largest and best-known multi-nationals have failed spectacularly when expanding abroad.  How so?

Find out through a white paper, The Global Ecommerce Playbook (requires registration).

Trends and Players Driving Cross-Border Payments

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Judging by the level of merger activity in the global payments space of late, the pendulum is swinging much more towards the buy than the build (source:  Cross-Border Commerce Drives Global Acquisition Agenda).

For more information, visit:  Cross-Border Payments Ecosystem Trends, Players

Read related article by James Gagliardi:  Cross-Border Merchants Win with Added Functionality, More Languages

Tip:  The most successful retailers are using increasingly simplified checkout functionality and allowing users to choose to experience sites in a variety of multiple languages.

Today in Global Small Business: U.S. Export-Import Bank Will be Reauthorized (Prediction)

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What's affecting me, my clients, my colleagues and other global small business owners:

• Seats are going fast for the Global Small Business Forum held in Chicago on 10/23.
• Is cross-border e-commerce underdeveloped in Europe?
• Are you a rare female (entrepreneurial) bird?
• How the next generation can capitalize on an international MBA.
• How on October 26, 2015 we will know where Exim stands on reauthorization.
• Why it's important to keep an open mind on the Trans-Pacific Partnership (TPP).

What Is Global Distance Selling?

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DHL recently launched a survey with 11,000 consumers in 20 countries to better understand consumer attitudes toward global distance selling (better known as shopping the world or cross-border commerce) – and the study shows significant differences between countries.

... the study suggests that businesses must understand their customers’ decision-making processes and align their business accordingly. Being aware of cultural and structural differences is a key success factor, particularly for cross-border commerce.

In the study, you will find out:

• Who is participating in cross-border shipping and in/with what countries are they most likely to engage?
• How are consumers finding retailers?
• How are consumers buying online? 
• How are consumers' returns handled?

Download the study (requires quick registration):  "Shop the World: DHL Charts the Journey of the Online Consumer."

Today in Global Small Business: Google Can Listen to Multiple Languages At the Same Time

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What's affecting me, my clients, my colleagues and other global small business owners:

• An interview with Kati Suominen on catalyzing cross-border commerce
• Why Facebook and Twitter are both aiming at the e-commerce market.
• Google can listen to multiple languages at the same time and be able to process them at the same time.
• Why American steel companies, executives and workers want to punish countries for illegal dumping tactics.
• How a trade mission to Mexico opened doors for leaders in business and education.
• Why global trade might become less important.
• Understanding what a FCC certificate is and why it is important.