Want to increase customer base and grow sales revenues quickly by 10%? Think about offering your products to people in countries outside the US. Did you know there are 330 million people in the US but 7.4 BILLION people in the world? Put simply the US Population is less than 5% of the world population.
Places like The United Kingdom in Europe, Canada and Australia all English speaking countries account for a big portion of the international market for many ecommerce retailers based in the US and can on average make up about 10% of their annual revenues.
Just about a year ago there was an article written on Pitney Bowes on The Growing Importance of International ecommerce written by Rachel Martin and in it says, “There has never been a better time to start thinking about your ecommerce strategy. According to eMarketer, in 2015 global B2C online sales were expected to grow 17.7% to US $1.771 trillion. Move forward to 2017 and you can expect to see global online sales of over $2.3 trillion.” Imagine even now what those numbers look like. We know that with the rapid development of the Internet each business has the potential to grow bigger by the day. Again, go back to the population in the world...7.4 BILLION!
In Pitney Bowes own global online shopping study they found that 66% of consumers now shop online, and 40% had purchases goods from another country. These numbers are absolutely in your favor. A few tips Martin shares in order to have a successful international Ecommerce strategy, these are the things you should pay particular attention to:
- Shipping Costs and tracking visibility
- Clarity in cross-border fees at the time of purchase
- Reasonable product delivery times
Lucky for you we get to give you the answers to those three steps above in order for you to have successful international shipping.
Need an international shipping service? No problem! FirstMile started its business as an international shipping company and it’s a central part of our core competency today. We can help you navigate the process and help you realize that additional sales revenue and margin opportunity with our international shipping solutions!
Last but not least Martin shares that two-thirds of the world’s purchasing power is outside the United States. That’s 790 million international customers who are potential new customers for US retailers. Today, only 50% of US online retailers engage in cross-border ecommerce. What are you waiting for?