DHL is a Business Reporter client.
Over the past few years, unexpected political and environmental events and constant change have created numerous challenges for businesses. But amidst this turmoil, opportunities have arisen for companies to establish or expand their international customer bases, helping to alleviate the turmoil. While the COVID-19 pandemic has shown businesses the disadvantages of relying solely on brick-and-mortar stores, a key lesson from the economic upheavals we have recently experienced is that it is risky for businesses to rely on just one market. That means there is.
An e-commerce presence and the ability to expand globally can put your company on a growth path, even when navigating tough local markets. Exporting internationally not only protects you from weakening domestic trade conditions, but overseas sales are often more substantial and can bring you greater profits. 20% of overseas purchases are worth more than £165, resulting in higher basket prices than in the domestic market, and goods are half as likely to be returned when shipped cross-border.
However, to attract and retain customers, businesses must ensure that customers are confident in their ability to meet their needs. Today's shoppers expect everything to be on-demand. They expect information to be readily available so they can make informed purchasing decisions while seeking more personalized and sustainable delivery options. To succeed in a competitive environment, businesses need to take the time to do a “health check” on their website to ensure that customer communications are clear and that they are engaging with customers in the right way. there is. Ultimately, an optimized online shopping experience leads to more visits, sales, and repeat purchases.
Businesses should ensure that their website clearly displays shipping locations, delivery options, import duties and taxes, tracking information, sustainable practices, and return policies. This eliminates the need for customers to scroll through her website and helps improve bounce rates. Creating a FAQ page that addresses customer questions is key to proactively addressing concerns and reassuring shoppers. In the event of disruption or transaction difficulties, it is wise to anticipate a surge in customer service calls and have the appropriate resources in place to respond quickly.
In addition to having a high-quality, informative website, businesses should look to social commerce as an untapped opportunity for growth. Research shows that 3 out of 4 consumers now use social media for shopping, and according to Statista, global social commerce revenue will rise to 3.4 trillion by 2028. It is predicted to reach more than $1 billion. With the right solution, businesses can integrate with various e-commerce platforms, streamline every step of the fulfillment process, and harness the power of social selling.
It is clear that the current unpredictable trading situation will not see significant improvement anytime soon, so it would be wise for businesses to explore alternative avenues for profit promotion and revenue generation. Taking the first step to expand internationally takes confidence and courage, but it pays off in the long run. With the right partner with the right solutions and expertise, you too can further your potential.
