3 Ways SMEs Can Tap International
Online marketplaces like eBay are helping SMEs scale up and grow international customers fast.
Take Southeast Asia. The small business community is poised to power growth and drive economic recovery. More than 9,000 Malaysian and Singaporean businesses are listed on eBay, and 77% of them sell to customers outside of their geographical boundaries. The top Malaysian sellers generate approximately $34 million in annual Gross Merchandise Value (GMV).
We’ve teamed up with eBay to offer some tips and tricks to help SMEs thrive in the global e-commerce market.
Lower costs to attract customers
The eBay Business Seller Program renders sellers eligible for preferential shipping rates that are discounted from partners for international shipping. Sellers are also entitled to exclusive incentives like deals, campaigns, and listing assistance – all critical factors in saving costs.
Consumers usually expect free shipping when shopping online, even for low-value purchases. In a survey by Dotcom Distribution, 91% said that free shipping influences future purchases. On marketplaces like eBay, products that come with free shipping guarantees may get more exposure by search algorithms and selective search functions by potential customers, who intentionally avoid listings that charge for shipping. SMEs can circumvent this by including the shipping fee into the selling price of their listed products or offer other nominally free shipping options.
Solutions such as FedEx International Economy help manage seller shipping costs by providing flexible shipping options. That way, businesses can provide free shipping while saving money on import and export shipping.
Rethinking the online shopping experience
Addressing local consumer trends
Team up with trusted logistics providers with global reach
As the growth of e-commerce turns heads and creates new opportunities, SMEs that can adapt will be able to reap the benefits - and boost their business for the long-term.
For more content that helps SMEs grow their international presence, head here.
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