In 2015, e-commerce sales reached $835bn in Asia – a rise of 32% from the previous year.
Having e-commerce means gaining presence nationwide for your product. To take full advantage of that, do note that e-commerce is also a changing game due to customers having different expectations and their differing demographic such as income level.
There are 3 tips to venture into the international market to reach customers who haven’t heard about your products and services.
In targeting the overseas market to sell your product, there are a few things you need to note:
1. Different countries have differing shopping habits and spending power
For example, there is a significant variance of GDP per capita in Singapore ($52,000) compared to that in Malaysia ($9,000).
In this aspect, price sensitivity will be an issue for your products in different countries due to income inequality.
2. Leverage on the local e-commerce
Setting up your e-commerce for your brand to enter and adapt the market in other parts of the world isn’t enough.
If you want to sell a product to a particular country, you can leverage on the locally popular e-commerce platform to sell your product; to better create publicity in that country.
Popular e-commerce in various countries
3. Gain inspirations and insights from local brands
Expand your global reach through local marketing and brand building. It is insufficient to assume that country of origin (for, e.g., a product of America) will boost your sales in any countries. This method is only useful for brands that have strong brand equity and recognition.
Brands can look at dominant competitors to gain insights of what products sell well in each country, what marketing tactics work best and even which e-commerce design styles/layouts local consumers prefer.