3 Ways SMEs Can Make The Most Of
E-commerce Opportunities In Asia
1. Identify the right market for your product
India, on the other hand, offers early-mover advantage for online retailers. For Indian SMEs, the move to e-commerce is new, but fast-growing . Merchants are moving away from traditional categories like electronics and apparel to more profitable niches, from beauty to personal care to furniture, which offer stronger growth potential.
In a smaller market like Hong Kong, e-commerce is expected to grow by 40% by 2023. As the pandemic continues, the trend of turning to online platforms for shopping and other daily activities is showing no signs of stopping.
2. Create a seamless digital experience for your customers
How your customers experience different touch points will influence their decisions to return. Design of the website, shopping cart checkout process, ease and speed of payment methods are very important for online shoppers. Expectations for convenience are especially high. As an SME, you should consider elevating your online presence. And above all, offer seamless, intuitive navigation that allows for easy search, compare and purchase features.
SMEs are often lauded – and rightly so – for their ability to scale and adapt quickly. Make use of digitalized sales tools. These help minimize administrative costs and errors by automating processes that were once manual.
3. Leverage innovative cross-border logistics solutions
Partnering with the right logistics service provider will help you navigate some of the hurdles SMEs struggle with when they first export internationally. From changing border regulations to customs procedures – a logistics partner can help you avoid unexpected delays.
Customers today are more and more eager to know the exact details of delivery – from each step of the journey to precise arrival to the minute. This has prompted logistics providers to introduce innovative solutions to be able to meet these expectations.
The FedEx Delivery Manager allows e-tailers to offer their end-customers more control on how they want their shipments delivered. They can customize their delivery preferences, including time and location, at no extra cost.
The global e-commerce marketplace is showing no signs of slowing down. SMEs who recognize the opportunities for growth - and adapt quickly to change – will be best-equipped to ride the e-commerce wave.
Follow our LinkedIn page for more inspiration on how to grow your business globally, or find more tips and e-commerce trends here.
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