28 May 2021
Go global - Enter new markets
Everything you need to consider before entering a new market
The global shift toward ecommerce is undeniable. Over 2.14 billion people worldwide are expected to buy goods and services online in 2021, and global e-retail revenues are projected to grow to $6.542 trillion in 2023.
Opportunity awaits those who are willing to expand into new regions — but how does a business successfully enter a new market?
Internationalization is one of the most effective strategies for ecommerce growth, used by businesses to expand their reach beyond their domestic market. While globalism focuses on shipping goods around the world from areas of cheap labor, internationalization encourages businesses to think local and develop regional hubs that resource and distribute products via local means.
In recent years, internationalization has increased in popularity because of its opportunity for growth and inclusivity of smaller businesses. This model encourages companies of all sizes, such as SMEs and ambitious family businesses, to identify new prospective markets and expand into the global commercial ecosystem. Larger companies also enjoy the benefits of internationalization as they can make their operations more flexible by developing a regional supply chain that brings their operations closer to the target demand.
Read our infographic understand more about the opportunities for growth available for your brand and why this strategy may be your ticket to conquering new territories.