Could an International eCommerce Strategy Be Possible for Your Business?
Expanding into the international market has always been reserved for larger companies with more resources and connections at their disposal. Growing business across borders has inherent difficulties and risks, and large corporations have historically been the only entities capable of meeting these challenges. However, advancements in technology and the omnipresence of the internet mean that adopting a global strategy is accessible to more businesses than ever before.
| Benefits of Global Expansion
The advantages of adopting an international eCommerce strategy are numerous, but most revolve around or relate to the potential for increased revenues. Small and medium-sized companies that expand into multiple countries see more growth in their turnover. This is primarily thanks to the exponential increase in exposure to their potential customer base. Billions of people use the internet each day. Retail e-commerce sales were predicted to exceed $5.7 trillion last year, with no signs of slowing down in the years to come. Companies with a global online presence claim a more significant percentage of those sales than businesses that limit themselves to a small centralized market.
Businesses with an international reach also benefit from market and financial stability because they are not at the mercy of a single local economy. In addition, the potential for higher demand and less competition increases as businesses expand due to the variations in global markets, which would also lead to higher revenues.
| Business Size No Longer Matters
Approximately 60% of the world’s population has access to the Internet, with many countries exhibiting higher rates – 100% in Iceland, 84% in Japan, 91% in Germany, 81% in Brazil, and 99% in Denmark. This level of access means that even small and medium-sized businesses can reach customers in other countries and expand internationally with eCommerce.
Numerous sales channels and platforms are available for building an international eCommerce strategy, and these marketplaces are much more accessible than attempting to build a system from the ground up. Additionally, smaller businesses that need more financial resources or experience in global markets can benefit from these existing systems to help them expand.
However, an increase in accessibility and inclusion does not eliminate all risks. Businesses will always face challenges, especially when pushing for change and growth. For example, IP protection is a major concern in international expansion. It can be especially difficult to safeguard your trademarks when 60% of the world’s population potentially has access to your brand’s identity.
Businesses considering expansion into the global eCommerce arena should ensure they are prepared for the task at hand. EmergeCounsel offers free consultations for companies seeking guidance on international eCommerce and IP considerations. Visit our website to schedule a consultation with one of our trademark attorneys today.