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Cross border trade is an opportunity to expand into new markets and to grow. Benefits include:
Reach new markets
Selling internationally can expand your customer base and increase your brand awareness into new markets. This positions your business for future growth. With cross-border ecommerce expected to top $627 billion by 2022, consumers are increasingly turning to international marketplaces to purchase products they can’t get at home. For example, Chinese consumers buy products from infant formula to cosmetics online from overseas manufacturers because they can’t be purchased at home. It’s therefore important you ensure you select the markets most relevant to your business and have the right marketing strategy to help you deliver the results you want.
Increase in revenue
The bigger the audience the bigger your revenue: the more countries you ship your products to, the more potential there is to grow your brand. This can increase your revenue, and allow you to serve more happy customers.
Specialised product interest
A product that’s not popular in your home market may be a bestseller in a different country. Selling internationally can be a good way to test product lines and to understand what works for different audiences.
Cut out the middleman
Reduce costs by shipping directly to your customer and country of choice. In the past, companies had to rely on international wholesalers and distributors, but now, thanks to new technology and improvements in logistics, businesses can keep prices competitive and ship directly to international customers.