The global eCommerce opportunity is massive but global presence necessary to be competitive in today's retail landscape, according to a new Forrester report.
eBusiness professionals should understand that eCommerce metrics are similar, but the results vary for each country. Although few will find the results similar across countries, metrics tend to vary widely from market to market.
For instance, online retailer ASOS posts an average international return rate of 30% while Zalando, an online multibrand retailer in Europe, reports return rates of 50%.
It is important to determine the competitors in each market and have strategy ready to compete with local brands fighting for market share.
Market position of few international competitors is different from what eBusiness professionals are used to in their home countries.
Forrester has identified that successful international online businesses prioritize metrics that measure customer engagement and better online experience can be delivered for customers by measuring customer engagement in early stages.
Optimize mobile to influence sales
Mobile can influence sales and a mobile strategy is especially crucial in new markets as eBusiness professionals work to drive overall impressions and customer contact.
Mobile serves as an additional channel to influence online sales for eCommerce business that don't have the support of brick and mortar channels.
eBusiness professionals should search for ways to use mobile to engage with customers, enable transactions, and influence sales in new markets.
Businesses may lose customers if they offer limited international payment or currency options.
eBusiness professionals should assure online customers that they will receive what they ordered. Success of their eCommerce business may also increase if customers know that returns are an option, and they are confident their financial information will be kept private.