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Why should I start selling internationally and when should you consider multiple currency payments?

Business without borders

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Why Should I Start Selling Internationally?

With the internet becoming more readily available to potential customers around the world, it is becoming easier for ecommerce businesses to start selling internationally. Forrester has estimated that by 2022 international ecommerce sales will overtake domestic by 17%. To start in ecommerce, essentially all you  need is a domain name and a website to get started selling across the world. There’s no need to find a shop premises and set up a physical storefront. However you will need to understand how to optimise your website and the process of doing so, which you can learn more about in our Website Optimisation eBook. Ultimately, selling internationally can help your business to increase sales, reach new consumers and support growth.

 

When Should You Consider Multiple Currency Payment Options?

If you are looking to expand your business and begin selling internationally it may be because your products have reached their potential in your domestic market. Accepting international transactions presents the opportunity to generate increased revenue without investing in the design and development of new products to boost sales in your domestic market. 

Before getting started with international sales, analyse where your current website traffic is coming from. If you find that you are already receiving traffic from other countries then this could be a potential area for expansion. Your business may be receiving this traffic because your products are in demand in that location, demonstrating a potential gap in the market that your business could take advantage of. 

Additionally, if you are interested in selling your products internationally, but cannot decide if your business is ready, research the market in different countries and identify any gaps that your products have the potential to fill. 

Selling internationally and accepting multiple currencies will ultimately make your business more accessible and allow more customers to purchase from your store. If your business is ready to expand then accepting international sales could help your business to grow.

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Read Next Chapter: Advantages of selling internationally

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Read Next Chapter: Advantages of selling internationally

Download Full Guide

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