Page 18 - GS240801

I
ov
n
r
o
at
n
li
ot
g
p
ht
S Spotlight Innovators
s
Spotlighting companies that promote
innovation in the payments industry
Going global:

Making ecommerce

work for you.

t's a small world, after all — but it's a huge market for consumers.
While shopping locally is still a big trend, there is the ever-growing
allure of getting just about anything from anywhere on the planet. So
I many brands, so many products, so many dollars … and yen … and
euros …

Forbes reports that global ecommerce topped $6.3 trillion in 2023 — and it's forecast to be more than $8 trillion by 2026.
Meanwhile, PayPal found that 57% of the world's consumers do their shopping with world-wide savvy. Clearly, there is
ample opportunity for merchants who go global, but the move can also have its challenges. From logistics to pricing to
payment options — as well as significant cultural differences — understanding the intricacies of global ecommerce can
help you decide if it's right for your business. Each point on the map comes with preferred payment options, currencies,
language, cultural barriers, and logistics. Here are a few considerations.

Cultural sensitivity.
Being big in your own backyard doesn't always translate to global stardom. What pops in the U.S. may fall flat in Europe.
Fashion senses, tastes in music, fads, and food — it all factors in. Then there's the local tongue. Translating an ecommerce
site and product line can get complex — and be full of unforeseen pitfalls. There's the legendary story of Chevrolet
Custom pages on our high-traffic website showcasing
marketing their Nova in Latin America — without considering that "va" means "go" in Spanish; no one wants a car that's
"no go." And no one wants to "bite the wax tadpole," which is what Coca-Cola translated to when it first appeared in
your company’s unique message
Chinese.
Regulatory hurdles.
• Your own, customized News from the Wire that highlights
Countries have their own rules and regulations for selling online. Maintaining compliance with each can quickly get
stories about your company
gnarly the more places you expand into. Consider the additional resources — people and otherwise — that you'll need to
stay on top of it all.
• Featured content: updated monthly, either by your in-house
Getting it shipped.
writers or by one of ours
Crossing borders means more regulations, different delivery methods, tariffs, and tracking — not to mention the sheer
miles between a warehouse and the customer. Statista has numbers as to how heavy global shipping and logistics weigh
on ecommerce merchants. Here's the breakdown that occupies their worry bandwidth.
• Custom infographics and videos
• Navigating customs (44.5%)
• Premier content placement in each issue of The Green Sheet
• Cross-border logistics (37%)
• And so much more...
• Cross-border returns (33.5%)
• Managing delivery expectations (34.5%)
Rick@greensheet.com
• Tracking deliveries (27.5%)
Getting paid.
707-284-1693
When will business owners get their money? And how? Payment preferences based on location come into play. Some love
their cards and digital wallets, while other markets might prefer to buy now, pay later (BNPL), or the use of an online

18