Doing business across borders presents a whole host of unfamiliar challenges to today’s merchant.
As technological advancement and increasing globalization unlock international markets,
it’s tempting to imagine that a business model successful in one region can simply be transplanted into another.
Not so. The logistics of domestic and international transactions have changed, and so too have customer expectations and preferences. Customer and merchants pain points have transformed and multiplied.
In this report, we explore some of the core challenges businesses today face in their quest to succeed in global commerce.
We offer an overview of how unified commerce can both resolve these issues and offer new advantages and standards of best practice, enabling your business to meet the demands
of tomorrow’s customer, no matter their location, preferred payment method, and mode of contact.
Published By: Riskified
Published Date: Aug 06, 2019
Cross-border eCommerce sales are set to reach $627 billion by 2022, with the highest growth rate projected in regions outside of North America and Western Europe. Yet US merchants are not capitalizing on these global markets. Only 42% of surveyed US merchants said their eCommerce website accommodated global business. When looking for new growth potential, international eCommerce represents a huge opportunity for North American merchants. Understanding and encouraging overseas consumers is essential for retailers looking to drive online sales and expand internationally.
"When it comes to online sales, there are no borders: Buying is happening everywhere. And these days, the biggest profits come to those who travel.
The good news is that taking an e-commerce business across borders has never been easier. What’s more difficult, however, is knowing which channels to choose, which countries to try and which are the best methods for connecting to more global consumers.
Whether you’re new to cross-border trade or a jet-setting e-commerce pro, this white paper will break down:
- Why going global is important
- Key considerations of international e-commerce
- And much more"
Commerce today involves an increasingly complicated supply chain ecosystem. Companies rely on suppliers and buyers across the globe, most of whom they’ve never met. They use multiple carriers and modes of transportation, across international borders, with different languages, currencies and laws. This ever-changing landscape means that companies of all sizes must be more diligent than ever when it comes to managing their supply
chain — and their risk.
In addition, e-commerce has revolutionized purchase behaviors, creating loftier customer expectations, and putting increased pressure on sellers to find new ways to meet those needs. Global networks and tight time constraints can amplify the impact from unpredictable events, like theft, damage, weather and natural disasters. This puts even more pressure on a company’s supply chain, and its bottom line.