Are You Ready to Take Your SMB Global?
The Internet has opened a plethora of opportunities for e-commerce businesses to take their brand international. However, in order to capture a global audience, businesses must learn how international consumers prefer to shop.
Global delivery service FedEx has released a study commissioned with Forrester Consulting to understand the priorities and preferences of global online shoppers titled, “Seizing The Cross-Border Opportunity.”
According to the study, 82 percent of respondents reported making an online purchase from a merchant that is located outside their home country with respondents from Canada reporting the greatest amount of international purchasing at 90 percent. Also, one of the more notable, but not necessarily surprising, findings from the study is that cross-border shoppers prefer to shop and purchase from well-known major retailers and global online marketplaces, thus indicating online marketplaces as an effective way for small and medium businesses (SMBs) to enter the global arena. What’s more, the study found that the top three exporters of online purchases are the U.S., China and the United Kingdom.
To complete the study, Forrester questioned more than 9000 individuals in 17 countries and territories, as well as conducted interviews with SMBs with cross-border operations.
“This research provides deep insight into the priorities and preferences of global online customers and highlights how small and mid-sized retailers can better take advantage of the cross-border opportunity,” said Raj Subramaniam, executive vice president, Global Marketing, FedEx. ”Knowledge about both the cultural similarities and differences in geographic markets can help businesses gain real online retail advantage.”