The easy access to the Internet and globalization has changed the business world. It has enabled companies with faster easier communication, a competitive edge, increased productivity, and of course the expansion of e-commerce. This has led to the growth of the global cross-border eCommerce market, which is expected to reach $4,820 Bn by 2026, with an expected CAGR of 27% through 2027.
Capitalizing on this ever-expanding cross-border e-commerce market is a great strategy for D2C brands but, before going international it is a must that D2C brands do not rush and equip themselves with a full-proof plan before going global.
To thrive in the global arena, a D2C Brand must understand and find the solutions to key challenges such as customer behaviour and logistics, among others. Brands need to master the eCommerce marketplace toolkit. And not skip any step or it might result in getting lost in an already crowded marketplace.
D2C essentials for a successful Cross-Border Ecommerce
Planning to Make a mark in the crowded marketplace, D2C brands must consider the following before diving into cross-border eCommerce:
Prioritize and track user behaviour in different Regions’ Marketplace
When planning to launch in the international market, first and foremost explore your preferred regions, conduct thorough demographic research and examine your products’ user behaviour and market potential.
Understand your target audience in the new region, what they would like to buy from your brand’s products, and your audience’s buying behaviour to fit your product into international markets.
Keep the knowledge of the Laws and Regulations
Keeping a deep knowledge of the local laws and regulations of the region you are planning to expand to is necessary to account for all the differences, and avoid financial penalties and brand reputation damage. These make up one of the biggest pain points while thinking of a cross-border launch.
Select the right logistics partner
The E-commerce business is incomplete without warehousing and supply chain management. To sell to your target marketplace efficiently with customer satisfaction one needs to store and manage your brand products physically. Thus, choosing the right logistics partner is the key to providing smooth and satisfactory delivery service to your customers.
Choosing The Right Marketplace
To reach out to your target audience in this world of eCommerce, one needs to understand the value of choosing the right marketplace to market your product. While Amazon due to its’ established consumer trust and engagement is a widely used marketplace to sell products, specialty products need advanced marketplaces and to establish one’s presence beyond Amazon.
For example, to sell handcrafted products, one might need to market and sell your products on marketplaces such as Etsy among others.
The sky is the limit for the growing cross-border eCommerce landscape, opening an immense number of opportunities for D2C brands to grow globally.
Moreover, the changing consumer behaviour post pandemic has shown a growing preference towards online shopping due to convenience and engaging buying experience. Creating just the right time for D2C brands to establish and grow internationally. But if you are eagerly wanting to take it cross-border it is essential to focus on building customer-centric products and solving these issues.
Mastering the cross-border market requirements beforehand will help you resolve all the cross-border complexities that go along with it to thrive globally.