There have never been more people on this planet buying goods on digital channels. Total worldwide digital commerce will hit $2.35 trillion in 2017, according to Statista. It’s no wonder, then, that retailers and brands are looking to global expansion as a key growth driver for their business.
At Salesforce Commerce Cloud, we help leading brands do just that. Our team of commerce experts has worked with dozens of global retailers, steering them through all phases of their international expansion projects. This extensive experience has informed a new report, Discovering Your Global Commerce Opportunity, which includes an assessment tool to help retailers determine market eligibility and potential.
Technology has removed borders from modern ecommerce, as evidenced by the number of online shoppers buying goods from outside their home country. According to an October 2016 study of 13,000 shoppers in 13 countries by Pitney Bowes, 66% of shoppers who have ever made a domestic online purchase have also bought from outside their home country.
In addition to strong, established economies in the United States and across much of Europe, ecommerce is rapidly emerging in Asia and Latin America. The ubiquity of fast internet connectivity and enhanced logistical operations on a global scale have made this possible.
An examination of the distribution of business-to-consumer (B2C) digital order volume globally reveals many major business opportunities. Market volumes in the United States, Europe, and China were nearly the same size in 2016, but the highest growth rates for the next five years is predicted in the Far East.
After a retail brand determines that they need or want to expand their business globally, the next questions are where and how? There are myriad challenges and considerations, not the least of which is understanding what those challenges and considerations actually are. Which markets will give you the greatest opportunity for growth? What are the barriers to entry in those markets? Do you partner with local providers or put your own stakes in the ground? When does the investment and risk outweigh the potential reward?
This guide highlights the key considerations for global expansion of your ecommerce business, and provides an assessment tool that will help you determine which markets are worth the investment of your precious resources. While the country statistics are gleaned from third parties, the best practices are based on our extensive experience helping global brands grow by expanding their business beyond their home country. Download the report today!