‎5 Mistakes Ecommerce International Sellers ‎make.‎

There is a famous saying, “Fools learn from their mistake, whereas wise learn from the mistakes of ‎others.‎”

According to federal government data, International sellers typically outperform those who sell domestically. Hackernoon researched that Global Ecommerce sales in 2016 was 1.859 Trillion USD.

Statista’s information says that in 2017, retail e-commerce sales worldwide amounted to 2.3 trillion US dollars and e-retail revenues are estimated to grow to 4.88 trillion USD till 2021.

If you’re reading this, it probably means you have taken the initiative to sell your product globally, but maybe you are not making the figures, profit, revenue, sales that you had made up in your mind at the first place.

Remember every mistake you make on an E-commerce platform will cost you trustworthy customers, as well as, a huge amount of money.

Let’s quickly go through the following Ecommerce mistakes that websites tend to make and also know how to avoid them:

1) Not Creating Buyer Persona

Imagine you’ve invited a new friend over for dinner. Which of the following processes would be more efficient? Making a sandwich and then asking your friend if he/she has got any food allergies as you place the attractively plated sandwich in front or vice versa?

Unless if you’re prepared to throw away the whole deliciously made sandwich when the friend tells you that they’re extremely allergic to bread, the answer should be pretty obvious.

Similarly, it is happening in the digital world. Many e-commerce websites are just selling their products online without even doing a tiny research of what their potential/targeted customers are.

If you start building an online brand without even knowing who your customers are, then you’re probably going to have a tough time and wastage of money, which could have been saved if you had created and referenced your buyer personas.

2) Running more than 1 online stores

Maybe you are already running multiple e-commerce stores for selling in different geographic. Maintaining more than a single store can be niggling, and time-consuming.

Merchants usually create multiple online stores to sell beyond their border and to reach a more international audience. But while doing this they overlook the cost they’re spending for maintaining the store, manpower utilized, because of which they won’t be able to focus on their niche customers and starts losing sales.

If you’re running your store on Shopify and still handling more than 1 store for International selling, then you are doing it wrong.

That’s fine if you want your customers/visitors to see the products/items pricing in their local currency, but creating a different store for the same is not a good practice.

An app named “Multi-Country Pricing” helps you to set different prices for different countries and that too without opening a new Shopify store.

Not only this if you want to show less or no shipping rates for your targeted areas, the app will allow you to set/include the shipping rates or extra charges in the base price of the product itself. So your customers would feel that your store is localized one thus the shipping charges are zero.

3) One/Blurred Product Image

Yes, that is one of the primary reason that your customers are not likely to buy a product just because they see only 1 visual image of the product.

Not only International but your Domestic online visitors are also always desperate to see the product’s multiple images from different angles and in different colors. And if you fail to offer them this flexibility then you’ll only see the graph of your sales/profit going towards the X-axis.

Your online store has all the products that your potential buyers are ready to buy but they can’t see the product properly and the reason behind this may be many :

  • Too small image
  • Blurry Image
  • No zooming functionality
  • Bad color background
  • Clicked Angles are not proper
  • Low light image
  • Flashy Image

Thus you need to have a professional photo shoot of the products before you decide to display the product on the online store.

4) Choosing the wrong E-commerce Platform

Most critical part comes while choosing the platform, where you want more sales by delighting your online shoppers and eventually establishing your own brand. However, many of them finds it difficult to delight as they chose their platform off beam.

As an online store runner, you need to do some market research regarding which platform suits their needs and sales. It happens that the platform you chose/use may not be the best place to sell the product in some other International regions.

E-commerce giants like Alibaba, Myntra, Tencent and Snapdeal lead the Asian e-commerce but a lot of Western retail capitalists aren’t familiar with these platforms.

Different geographic locations have different market needs and expectations. Factor by which your customers of one region is pleased may not appeal customers of another locality.

Using an online platform like Shopify which constantly keeps updating their services to react and evolve with international consumer’s behavior, trends, and technology innovation is something you must hunt.

5) Checkout only in “Single Currency”

Finally, your international (potential) customer has added all the desired product in the shopping cart and now they are ready for the checkout.

After filling all the necessary details they find that your online store doesn’t supports/shows their native currency in which they were going to make the payment. Thus unwillingly they just abandon the shopping cart.

According to Shopify’s data :

  • 92% of the online buyers don’t purchase from the site that does not offers to make payment in their native currency.
  • 33% are likely to abandon the purchase if the pricing is only in US dollar.

Offering your buyers to checkout in multiple currency can largely increase your international sales. Eventually you will also gain an invaluable amount of trust form your online buyers by allowing them to pay in their native currency.

If you’re Shopify user then an app named “Multi Currency Checkout” will automatically detect the location from where your store is being accessed and then accordingly show prices to your buyers for the checkout.

Wrapping it up

There is no harm making mistakes, the only harm is when you repeat the same mistakes again. Learn from it, evolve from it, don’t be afraid to take risks.

Make yourself and your online store organized, equipped and complete so that errors are minimized to zero and the productivity of your store is maximized to two zeroes followed by “one”.

 

 

3 brands that made it big into global markets with cross-border commerce

In the race of cross-border commerce, some brands have carved out a niche following several website localization tactics and processes. Some brands have taken help of localization services while some have developed attractive local websites to grab user attention.

Effective website localization goes beyond just product selection. Consumers demand more of localized content and media that they can understand and trust. When your brand understands this, you’ll be able to create template-based websites that follow a single format, but that can house new blends of content by the market.

Are you looking for investing in the biggest global markets? Do you want to take a step ahead of your competitors in the long run?

Here’s a complete guide how these small businesses have made it into the enterprise businesses.

O Boticario – A big name in the world of cosmetic and perfumery

The largest perfumery and cosmetics franchising network in the world. Also, it is Brazil’s second largest cosmetic company. It is spread across Brazil, Mexico, Peru, the United States, Japan and France with over 4,000 stores.

O Boticario has demonstrated ways to globalize the markets with the best approach. It has utilized the power of analytics to customize the merchandise for local and international customers. It has increased productivity by localizing the sites in terms of SEO perspective. Here are some strategies to expand globally:

  • Tailoring media and content by market

Every emerging brand should understand well that effective website localization is not just about product selection. It is more about how the consumers across the world demand to see the relatable media and content.

  • Ditching the copy & paste method

O Boticario has set a mark in website localization with their channels like .es and .com sites. It provides an engaging digital experience with localized content and global translations based on the customer’s shopping habits and locations.

  • Fully translated product information

Investing an extra time in the translation of product information can help build trust with the local customers. Also, localized content for product boosts SEO page rankings. O Boticario has product page information in English, Portuguese and Spanish.

  • Seamless checkout

O Boticario uses First Data on all its sites for collecting the transactional data. This payment gateway extends global payments and can sync with other payment modes globally.

With such principles and strategies, O Boticario has proved a benchmark in the e-Commerce global market of perfumery and cosmetics.

 

Vivino: Wine Delivery across the globe

Founded in 2009, Vivino is an online review and marketplace for wine globally. It all started with a simple iPhone app for the residents of Denmark. With time, it scaled its market values and aged like wine only to get better.

Vivino is a global marketplace for varieties of wines. It has one of the largest databases of wines in the world. It has nearly 7 million users and more than 3 millions of wines with quality taste. It has offices in India, Ukraine, U.S., and Denmark.

The founders have leveraged the opportunities of the e-Commerce business that within a short time, they started spreading across every major country. Today, around 5% of wine sales are made and Vivino holds a major share. It has localized wine e-commerce sites launched in the UK, The Netherlands, Belgium, Italy, and Spain.

Vivino excels in the online order and delivery of gourmet and wine across the globe.

Several strategies that the brand has accepted are:

  • Consistent presence across emerging markets
  • Localized language, content, and media
  • Understanding consumer preferences across borders
  • Localized product information, features, and reviews

Vivino has played smart in the networking and digital world. On the basis of IP addresses, it redirects its shoppers to their locations. This localization engages a number of communities in the local development environments.

Based on its product, Vivino has proved it truly values its quality and customers. “Wine only tastes better when old, likewise, this brand just gets better with time.”

 

Neon Poodle UK/EU

This brand is a leading supplier of long-lasting and affordable neon signs for homes and businesses in UK and Europe. It effectively manages localized inventories across the board. It has localized warehouses spread across the globe and that is what makes a smart move in terms of data and supplies.

Their Insights tool helps in merchandising the brand effectively for the local customers. These analytics and insights provide information about the demographics. It is vital information any brand needs to enter and spread in the cross-border markets. With social media, we track what the global customers demand. We scrutinize the customer behavior and their belonging domains and later take the next step.

Neon Poodle works differently than big, listed brands. It has spread its data warehouses first as per demands of localized markets. This helps the brand serve better and resolve shipping and delivery problems faster. With a big step, it has already won the game of cross-border expansions. The brand provides shipping to all domestic and international locations. However, only local customers can leverage free shipping and delivery.

Neon Poodle EU/UK understands what a local region needs and how the customers behave. They have effectively blended the technology and data to reach out to every corner of UK and Europe. Localized Data Warehouses, stock management and total landed costs are the key points to enter the cross-borders. This brand does it all and clearly wins the aspects of this expansion game.

Conclusion

Taking a cue from these top brands that have made it big in the world of cross-border markets can help you in every way. Today, they have reached the pinnacles with a strong foundation, plan, and strategies to empower their cross-border commerce strategies.

 

How to make cross-border commerce work?

Cross-border commerce has been a hot topic since a decade now. Today, consumers have a better understanding about which brands to choose and where to buy from. They know when to compare goods and services online and get the best deals. Not all the goods and services are available in every country and due to this the consumers have to search the products in their country’s borders. This has perhaps increased the count of demand and supply in the e-commerce markets and sales. Also, this increases the competition amongst merchants and marketers as they fight for the space in the business of global expansion.

There has been a rapid rise in the B2B and B2C markets and services since past few years. The customers are becoming more familiar with this concept of online shopping. As per report from Pitney Bowes, borders are nowhere a barrier now for the shoppers to purchase online. Majority of the consumers make an international purchase of their favourite products at least once in a year. The availability of better quality and wide range of products, attractive offers and trustworthy reviews are few reasons that lure the consumers to shop online. If the merchants focus on these liabilities, they are sure to make their way into this venture in few years. Global market analysts predict that in no time cross-border markets is sure to take over the domestic markets.

To get everything into place, there are multiple challenges these international sellers need to focus on before entering the global market. To master the art of the cross-border e-commerce work, international merchants should focus on these points.

Some of these are:

  • Investments
  • Data warehouse
  • Study of Local markets
  • Climatic conditions and customer demands
  • International shipments and on-time delivery
  • Total landed costs
  • Political constraints and government laws specific to a region

…and many more. To make a big step into this global venture, merchants should equally pay attention to these small details.

International merchants should not plunge into the global market without proper analysis of the region and territories. They need to understand the local markets, laws and regulations before expansion. They simply cannot enter a territory or a country that does not have any cross-border e-commerce in the first place. They should analyse the requirements, focus on how the competitors have build their strategies to conquer and expand in the future world of cross-border markets. Observing this can help them set right decisions in the investments, data warehouse, shipments, product offers, promotions and much more. Once they understand these minutest details, they surely can make way in global expansions.

International merchants should build and maintain trust and transparency with consumers. Also, they ought to focus on the challengers these global markets pose on like the language barriers, currency concerns and a full-fledged marketing. It is important that the branding is correlated to the market and it sticks to its brand values. Along with all these concerns, there should also be a need to customise the international shopper’s experience. All this can be done in terms of the localised customer service, shipping and payment methods.

 

For instance, shipping continues to remain the most important aspect of cross-border expansion and also the most overlooked one. International merchants should be transparent with their shipping policies, charges. They should provide details like tracking, delay in delivery and shipping rates. Also, the wide integration with the payments methods is a must. In consideration of the domestic markets, utilize the payment methods which are locally accepted and recognised.

Thus, to create a larger impact and increase your brand’s values in the cross-border e-commerce markets, observe, take steps wisely and localise your customer’s experience.

 

 

Optimizing the Local Market for International Selling

The cross-border commerce world is booming rapidly. With just a click of a button on smartphones, you can buy and sell anything across the globe. As per the Forrester study, the cross-border commerce is likely to double by 2021. This will bring a phenomenal increase in the outcome of sales and revenues. Thus, a majority of the online shoppers are going global in their search for sales and purchases. This has given a little run for money to the retailers. However, some of them have joined the bandwagon in the global marketplace.

For instance, the cross-border market of China will see a remarkable progress in 2021 with a huge increase in sales and purchases in this market. India and US are also following suit.

Let us understand the major considerations for the success in the global market.

Optimize local markets

As per research, a majority of online shoppers prefer using the globally recognized marketplaces. They focus on gaining a potential profit margin. This gives them a global recognition and a great customer outreach. It is necessary for these merchants to understand the market rates and values. Also, timely analysis of these helps them to increase their market.

Consumers should look out for multiple benefits to shop at marketplaces:

  • Best deals
  • Free shipping and delivery
  • Ease of searching what you what at one click
  • Wide range of products for all categories
  • Faster delivery time
  • Customer Loyalty Points
  • Quality products
  • Great customer experience
  • Brand loyalty

Cross-border market strategies

Marketplaces have crossed international divides. There has been a substantial increase in the purchase of online marketplaces. This ratio is high when compared to retailer websites.

These cross-border market strategies succeed based on a lot of factors:

  • Retailer’s market presence
  • How much risk a retailer has to undertake?
  • What difference lies between a marketplace’s and retailer’s own assortment?
  • Is the retailer fully aware of the cross-border policies and charges?

Be like the locals and pose like a foreigner

The US, China, and India have an astounding cross-border market. Whether it is clothes, cosmetic products, food products and electronic items, they hold their positions in the marketplace.

It is essential for these online shoppers to know the insights of the local markets. They have to be aware of the conditions of the local markets, policies and the tax benefits. They have to understand and analyze the demand and supply of their products in these areas. This is the biggest challenge though. But from the sell-side, it is the most important thing to consider while entering the global markets.

Participation in the national market

The online brands have to actively participate in the national markets. They have to continuously strive to build their presence. This gives a good exposure in terms of markets and the consumers. They have to keep the important things while expanding their business globally.

  • They have to understand the fiscal policies.
  • They have to be well prepared for regulatory challenges.
  • They should do proper calculations of the border taxes and custom duty charges.
  • They should ensure the import/export compliance.
  • They have to do accurate shipping and product costs’ calculations.
  • They have to manage logistics effectively and efficiently.
  • They have to process the data and conduct secured payments.

Focus on the brand and quality

It would be tough to survive in the global market if marketers rely completely on the brand. Product perception has to go hand in hand. As per a survey, 70% of the consumers make at least one cross-border purchase annually. This is because of the attractive pricing and discounts they get as well as the strong perception of the product aligned with local needs and quality expectations. Also because of the variety, they get in the products and its qualities.

It is quintessential to localize the brand. They need to create its online presence to enter the new global market. They have to deliver quality products and create a brand awareness to the local consumers. Thus, they have to look like an outsider but have to behave like the locals. The brand equity and the product quality matter among the consumers in countries such as India, China, and Hong Kong.

Manage the inventories and outlets

There are few of the retail brands that have managed to build empires. They have made the most of both cross-border and the domestic deals. These global brands do not enter the market directly. They have to plan and strategize cautiously. They have to manage the resources and the entire system. They have to be quick and efficient in delivering goods and services to their consumers.

Managing the inventory globally is one of the prime concerns for all the online retailers. They have to look into the challenges such as currencies, language, geographical distance, instant delivery and customer satisfaction. Regardless of the time zones and the cultural differences, they have to manage the inventories most effectively.

Conclusion

Brands have to evaluate the market position before entering into the cross-border commerce. As per the geographical and historical conditions, they might have to face huge challenges. But, they have to equally focus on the local brand perceptions to rise and stand out in this global market. Once they ensure compliance for all sorts of cross-border transactions, they surely can gain maximum success in multiple markets.

 

 

Top 5 Strategies for Harnessing Cross-Border Commerce Success!

By 2021, the cross-border market will boom up to $1 trillion, as per recent Business Intelligence reports. There has been an exceptional rise in global purchases due to the ample reach, given by cross-border commerce along with its price and quality benefits. The driving force behind cross-border commerce has been the lack of access to goods domestically. Also, the better product pricing and affordable shipping contribute to its success. Thus, most of the consumers are turning to international vendors who are prevalent in local online markets.

Consumers in the countries like China and US import and export several products and services. For instance, people in China tend to everything from baby products to gadgets online owing to their lack of quality in some local markets. In response, merchants aim to expand their businesses to a global level, while making sense of the local sense, language, flavour, and preferences. They target the overseas market and expand their horizons to new global customers for obvious reasons.

Major Strategies that can leverage cross-border commerce benefits

Are you thinking about entering a new cross-border market or are keen to expand your eCommerce business globally? Here are some strategies you need to pay attention to.

  1. Select the market appropriate to your business

Do your homework. Determine who will be your international customers. Understand your product value in terms of their demands and your supplies. You can consider the following factors before finding the best product :

  • What is the condition of your selling product in the market?
  • Will there be a substantial growth of your business with your product?
  • Who are your competitors and your consumers?

Possibly, there is a solution for all your queries.

  • You can search for the most trending products on Reddit, Alibaba and more.
  • You can decide accordingly and refine your selection later.
  • Finally, dive into the data analytics to validate your idea.
  • Check out the competition in the global market on the basis of surveys and reports.
  • Analyze your sales and calculate the profit margin.

  1. Research on the trends in the international markets

A proper and efficient research always helps in providing effective results. For international markets, you have to be keen on the trending strategies and policies. You have to take into consideration the competitors, their product quality and the discounts they offer. You have to analyze your production rates and its corresponding market values. You have to focus on the product quality and its marketing so it can stand out in the international market.

You should not miss out on the data security and customer’s satisfaction. You can hire an international support in that case. These are going to be a real wealth of your company and its market value.

  1. Focus on the payment modes

There are multiple payment options available in the market. Some have global access, while some are limited to local markets. You have to be very careful and precise considering the most secured payment modes in eCommerce. The payment modes vary largely in terms of countries.

In order to successfully scale globally, you have to focus on integrating and accepting all payment options. But again, know what your target market prefers. You can always consider the standard secured payment options such as Visa, MasterCard. Later, as per the market and sales, you can add the appropriate ones. You also need to take account of the local currencies and conversions for cross-border markets. Most importantly, you have to promise the consumers about their money security.

  1. Be aware of the tax rules and regulations

This is the most important point when thinking about expanding your eCommerce across borders. You have to be well aware of the government taxes and how to apply them to your products. You have to investigate the custom duties charges and taxes. You have to inform about the additional charges to your customers.

You have to understand the free trade agreements before venturing to do business across the borders. You should also know the market policies and tax rules. Ultimately, these will be inclusive of the costs, packages, shipment of your product. Hence strategic pricing and quality based on local market conditions and competitions is highly important.

  1. Set up an International returns policy

When you think about the cross-border market, you ought to consider the international returns and policies. You have to understand the local laws and the overhead costs. You have to be transparent about the return fees or the restocking amount. Also, you have to be clear to your consumers about the full refunds or the store credits.

You have to consider the approaches for faster and secured refund options. For this, you can build partnership with the logistic services or set up a local returns center. These can offer a number of return options to the customers. This altogether, helps you manage and simplify the process efficiently.

Apart from all these, one also needs to take the ownership of the business. You have to upscale the entire process not as an individual, but as a team. So, it is better to appoint the right manpower, resources and logistics in the local region too. You should also focus on the technology and services for delivering a standard process. This will help your business get major visibility globally.

That said, to make an impactful start in the cross-border markets, you need to identify the right marketplace. This can help you earn cool profit margins for your global business.

Devising International Payments for Cross-Border Commerce

Devising International Payments for Cross-Border Commerce

Selling internationally can be a thrill and a hassle as one needs to process international payments efficiently. The good news is that e-commerce sellers do have loads of options to make global sales easy enough for buyers and sellers.

Do US Merchants Accept Payments from Abroad?

In most cases, they do not accept international payments since the processing fees are high enough with huge risk of fraud and chargebacks. For working with customers in other countries, one would have to set up an account for those orders specifically.

International Merchant Accounts give owners dealing with cross-border commerce with multiple solutions meant for small businesses. These accounts have the ability to accept money and process varied payments automatically. They also feature fraud prevention and other attributes. These accounts also offer alternatives to payment aggregators like PayPal, and even present buyers a view of an established business along with currency exchange rates as part of fees.

Once you’ve opted for international merchant account for allowing international transactions, here are some things you need to do

  • One needs to pay set-up fee to obtain processing equipment along with relevant software.
  • After installing the software, and set account information, link the account with business bank account.
  • The money received through the merchant account will be converted to U.S. dollars and transferred to bank account.

Instructions to link international payment service with marketplace

To link the payment service with the storefront, follow the rules and create your checkout process. Here are some payment aggregators and services that would aid cross-border ecommerce and international payments.

  • PayPal

Being the most popular payment processor for online sales, PayPal now operates in a staggering 190 international markets and even accepts payment in 24 currencies without one needing a merchant account. Transaction fees are mostly lower than the fees levied by banks, most transactions are also swift and secure. It can be set up with an email account and a credit card only and there are several free tools for shipping and tracking reports.

One does get charged per transaction, withdrawals and currency conversions and one can set out adequate product prices for including those fees.

Set pricing for international customers in relevant currencies that are available for you to accept and the money can get transferred to the local bank account within a couple of days. Consider a dedicated merchant account if there are consistent transactions along with a dedicated chargeback department for the services.

Payment comes in default currency through PayPal based on account preferences. One can convert money at the standard rate to account for any wayward currency fluctuations. PayPal monitors foreign exchange rates and adds its own fee of 2.5 percent to the transaction especially when funds are moved from PayPal to bank account.

  • Individual credit card firms

One can work directly with merchant accounts including the popular Visa, MasterCard, and the like. But these provide limited international buyers’ options and thus limit sales.

  • International money orders

Your customer from another country can purchase money orders from their bank, and are mostly considered secure. Fees are minimal, but payment process takes up 8-10 days. Also these international money orders are liable to frauds!

  • International wire transfers

If one has forged a relationship with an international customer, international wire transfers can be swift although expensive at $35 – $60 per transaction.

  • Google Wallet

This wallet is available in limited countries and the UI is uncluttered and boasts of a good online presence, and many cross-border commerce organizations have started using it.

  • Telegraphic Transfers between banks

These transfers have been used for several decades and now they are losing importance owing to convenient payment options.

  • Personal check

Major marketplaces discourage use of personal checks owing to huge chances of fraud. One can even consider the checks on a case-by-case basis if you are the prime decision-maker and comfortable with varied taxes, currency exchange and ancillary fees.

Conclusion

Payment terms and methods are few and far between that actually work in an online marketplace. Check out the best mode of payment for your cross border commerce strategy although do encourage every channel for hassle-free payment for customers.

The Role of Artificial Intelligence in Organizing Cross-border Commerce Translations

E-commerce translations are important in the present scenario of cross-border e-commerce since localization is possible only when local languages are considered for product descriptions.

Depending on inventory and its volatility, dealing with translations on your own can be quite a task.

But in reality, one does not really have to go through the hassles today. With automation and translation tools for ecommerce, it is evident that the development of Artificial Intelligence (AI) has transformed machines to be more human than before.

Cross-border commerce & machine translation

The Rise of Artificial Intelligence

Artificial Intelligence indicates the simulation of intelligent behavior in machines for rendering complex tasks, and with reduced human supervision.

Machine learning is an intrinsic part of AI, wherein algorithms break down data, learn from it and then make fact-based predictions. These machines can be trained likewise to perform complex tasks.

Now coming back to international e-commerce, sellers are forced to handle manual work, match product categories, features, sizes, and so forth on a daily basis. But in recent years with big data analysis and AI, product tagging is now handled on a much larger scale owing to raw descriptions that aid AI to localize entire content, map the category, extract features or even transform sizes.

Now some vendors have introduced machine learning and machine translation, as previously humans were prone to make multiple critical errors despite companies hiring professional and trained translators. Now machines are taught to convert sizes based on diverse brands. Size conversion accuracy is now nearly pitch-perfect too. Mixing human expertise with machine learning has helped in accurately localizing product listings and maintaining consistent quality.

Role of AI & automation in international commerce!

Automation has benefitted retailers in a huge way, as many spend less time on managing catalogue and more time on clearing chinks from their business strategy, thus delivering great buyer experience.

  • Reliable automation solutions with rules and exceptions: Automatic solutions may work automatically, but creating a reliable automation-based solution is quite complex. Experts suggest that automation is not a straightforward task since one must make sure the machine understands specific rules and exceptions on a consistent basis. For example, machines shouldn’t avoid translating brand names. Otherwise, one is sure to experience hilarious effects since the brand name will be translated into different languages and named differently in diverse contexts.
  • Recognize exceptions to avoid problems: The role of AI is to teach the specific tool to recognize exceptions and avoid any faulty translation. To account for such scenarios, a human brain can teach the machine to perform the above task efficiently, correctly and precisely. A perfect blend of both machines and humans is necessary for optimal ecommerce translation. Humans carry wide knowledge but machines are fast and consistent. Technology combined with human factor can produce great results for the industry.
  • Identify right words based on SEO: The machine should also identify the right words to deliver ideal listing translations. Simply recognizing words and phrases or combining them will not suffice. The products should also contain keywords that would help in its sales too. Some things are referred to, by different words. The word you decide for use makes a huge difference considering conversion rates. For example, some online buyers might search for ‘trousers’ while some might search the same thing with keyword ‘pants’. Depending on location and language used, one of them might win over the other. Thorough e-commerce data analysis could establish the right keywords that will maximize sales of a given product.
  • Titles are of huge importance: All searchable terms on a platform owe much to the efficient titles. Use of big data techniques to examine the titles would help in correlating words/synonyms with revenue. Selecting the right words can boost transactions in more ways than one.

Using an AI-based e-commerce translation service

An ideal AI-based translation solution will leverage an AI-based, natural language processing solution to deliver affordable and automated translation efficiently. Some plugins connect to the domestic marketplace account, extracting product categories, titles, product descriptions and feature lists.

The process involves analysis of product to be localized, structure assessment, extraction of localizable components, inferences of important attributes etc. The elements of the product are localized according to the marketplace needs, length limitations, category, and sellers’ preferences.

The custom process can be fully automated with translation software tools that are based on adaptive machine translation.

Additionally, the translation systems learn from human feedback in a self-improving loop, and with time will need minimal human intervention.

Automatic translation has its own share of benefits in terms of speed and efficiency. For merchants who thrive on cross-border commerce in international markets and who need to change inventory on a regular basis, slow translation also entails losses in sales potential.

Conclusion

If you think literary descriptions of a product will guarantee successful sales, it is time to reconsider. Lengthy, full-sentence descriptions are useless without product attributes. Buyers are always looking for great product offers. The attributes and keywords form the core of strong and optimal e-commerce translation.

Automatic translation solutions might not be the norm for cross-border commerce in many e-stores, the immense growth in machine translation solutions will help boost revenue for many, who jump the bandwagon soon. A cross-border trade partner can also optimize translation processes and costs with efficient return-on-investment too.

Top mid-market considerations for cross-border commerce

For mid-market brands, it is tough to prevail in many global markets since they are saturated with similar products. In this case, a full market evaluation before launch of cross-border is required, to identify competitors, take note of their activities, take note of what they fail to do and even understand the direction of the market and its perfect fit.

Winning globally for most companies is to acquire market share and retain customer interest consistently. Here are the top mid-market considerations for cross-border commerce that will ensure its success:

  • Make Technology an Enabler of Success

Automation is the key to be lean in international selling, with enough team time and space for promoting innovation.

Here are a few workflows for automation:

  1. Email Marketing – Create audience segments, and revisit them seasonally to ensure the pitch is aligned with brand messaging and as per the regional sensibilities.
  2. Product Information Management – Invest in a streamlined product information management (PIM) system to manage local content that will increase as you scale your operations. Be sure to include a repository for product information, content and media. Keep each country’s product catalog and content separated from each other.
  3. Order Processing – Do not let countries and markets get disintegrated into silos. Invest in connecting channels with strategic planning across the organization. One can even invest in ERP solutions or Shopify to get the order processing streamlined.

  • Defining Key Domains – Product Delivery, Logistics and Shipping

The core foundation of cross-border commerce is ensuring product delivery in-country. Logistics should be a vital function that needs to be addressed right from the first day. Mid-market merchants do it themselves, using warehouses or ship from a warehouse. Some use an affiliate, for the same.

Shipping shouldn’t affect profit margins. Hence it is important to localize management efforts with a dedicated resource on the ground within the region. When evaluating hiring personnel, do check how professionals understand building global teams. A key stakeholder in the place with global experience is useful in this regard.

Managing global resources from long distances means that there should be constant communication between stakeholders about the product, the brand’s tone, marketing message, vision, and the like so that specialists can mitigate any issues with localization with brand experience.

The in-country team needs to be conveyed about company’s top-level goals and how the market can help meet the goals.

Conclusion

Adequate localization, key stakeholders in-country, a local logistics provider with affordable shipping, and other regional factors need to be in place for mid-market organizations who are looking for success in cross-border commerce.

Retain More Customers by Providing Multiple Currency Options For Checkout

When everyone seems to shop online, why are 67.45% shopping carts abandoned? This is about people. Different people, different approaches! You may have made peace with the fact that you cannot satisfy every buyer. However, you can follow a certain set of established tactics to grow your international business to highest bounds.

Experts keep telling you that localizing your global business is very important. It is, for two obvious reasons.

  1. To make people buy products from your online store.
  2. To keep people stuck to your store so they keep coming back.

So, why do people want your international store to look and feel like their local online store? Because, this provides them a comfortable, easy to browse user experience. Research shows that 20% of people abandon their carts because price is presented in foreign countries.

Buyers Behavior Chart

Of course, this is not the only motivation for localizing your store, there are many others. One being the headache of converting foreign currency prices unto your own currency, and other being the issue of its acceptance with banks. We have a solution for this problem, so let’s dive deeper into it.

Switching between currencies

One thing is for sure- People want their buying experience to be simple and convenient. You show them product prices in foreign currencies. It is the feasible way since you are selling in multiple countries. Here you are ignoring one simple possibility. Not all the people may care about converting the price every time just to figure out how much they are paying. Also, all banks have different policies when it comes to accepting payments in foreign currencies. The return and refunds become another severe issue.

Shipping and Tax charges are the extra money

Figuring out the amount is not the only problem. Sometimes it is about buyers feeling that they are paying more than they should. And it gets worse when your store is showing prices on products page in customer’s local currency.

If the buyer saw a product’s price on product page in his local currency, and is all geared up to buy and went to checkout. How heart breaking it must be for him to realize that he has to calculate shipping rates and taxes on his own? Moreover, the psychological effect of this currency auto-switch is that they feel you are charging extra under the sheets of foreign currency. This is where the feeling of being deceived comes in picture. And a customer lost once, is a customer lost forever!

What is the solution?

There are many apps to show the prices on your store in buyers’ local currency. These apps critically locate buyers and show currency accordingly. But as soon as they proceed to checkout, the prices get converted into store’s default currency.

You have to ensure that buyers see prices in their local currency at checkout. This can be achieved in many ways. The one obvious way is by establishing multiple stores. When you set separate store for each country, you can set currency under that country. Setting up and maintaining many stores come with its own set of issues as shown here.

Shopify currently has no other app that lets you display price in buyers’ local currency at checkout. There are many apps that can let customers set currency on product page. Then at checkout page, the prices get converted to store’s currency. Hence, the ideal situation implies one store, one currency (store’s default currency) at checkout.

Our mCheckout App lets you do one simple job of providing prices in buyers’ location currency at checkout page.

Along with this, it takes care of refund and returns in the same currency previously used by the buyer. Also, you may wonder that for all the different currencies, you will need various coupon codes and discount offers. Wonder no more! All Shopify coupon and discount code generators are compatible with our app.

This app supports custom credentials with USPS, Canada Post, UPS, or FedEx to display calculated rates at checkout. The app works on all plat.forms (operating system) without needing any modifications

How does our app work?

It is important to note that the visible work of our app essentially starts from Cart page.

At cart page, buyer gets two options in terms of currency. Either he can choose to proceed with store’s default currency or the alternate currency that was selected by the app (through location) or the user (manual input).

The working of the app is not limited by just setting the price in particular currency. It also lets buyers pay in that currency. And why is this an added benefit? When users pay in foreign currency, they end up paying additional amounts to bank for foreign exchange.

As mentioned above, not all banks support money exchange in all currencies. This serves as a hurdle in your store growth as it drives foreign buyers away from your store. But with our app, as you are offering them to accept payment in their currency, this issue is eliminated.

How can our mCheckout App help your international business?

People are reluctant to buy when they see prices in foreign currencies. We provide you with an app that lets you set country wise currency at checkout. What’s more? If for once, a customer is hooked up at your store, he is bound to come back. This ensures long term buyers for your store.

Let us know how you have been tackling this multi currency issue at checkout till now. And if you are still waiting for an ideal solution, use our app and convert more buyers today.

If you have got any issues with our app, we are always here to help you.

 

A Brief Guide To Selling Globally

Are you planning to go global with your current local online store? Or, have you already taken this step forward and now are stuck with various issues? Whether you are the former case or the latter one, your game in the international market needs a timely and continuous update. Continue reading “A Brief Guide To Selling Globally”