Cross-Border Commerce: How To Tap Fast-Growing Markets With the Right Partnerships

Cross-border commerce is a lucrative opportunity retailers and brands can’t afford to pass up, but selling in multiple countries is a complicated task that carries risks as well as rewards. Retailers and brands need to understand the market on multiple levels, from preferred payment types to last mile expectations, if they want to achieve true success. Some of the key considerations retailers and brands should have in mind as they explore cross-border commerce possibilities include:

• Keep an eye out for demand signals: Expanding into a new country isn’t something that can be done on a whim, so retailers need to look for ways to measure interest in foreign markets and figure out how they’re going to position their value proposition
• Find the right cross-border partners: Even the most prepared retailer lacks the experience and expertise of a company that has been operating in a foreign country for years, so finding partners, such as marketplaces, that are a good fit for your brand is vital to success
• Understand challenges that can impact pricing: Every nation has its own regulations and infrastructure, and retailers need to be prepared to offer a top-notch experience for customers while properly handling any additional costs
• Look to China for cross-border lessons: The Chinese cross-border market is very mature, which makes it both an attractive country for Western retailers looking to find a new audience and a well-supported proving ground