Submitted by a.foley on Tue, 11/22/2016 - 10:08
Is your company ready to go global with ecommerce? Maybe it should be. Opportunities to sell globally are substantial and growing. While ecommerce retail sales in the United States are rising -- expected to reach $523 billion in the next five years -- that number is growing even more rapidly worldwide.
Globally, business-to-consumer (B2C) online sales is on pace to exceed $2 trillion by 2017.
1. Assess supply and demand.
To get a clearer picture of your probability for success in other markets, first assess your business from the local point of view in your product's new space. Conduct a regional analysis around local competitors, product demand, pricing and consumer behavior.
This knowledge will help you home in on the size of the market that exists, the supply-and-demand dynamic for your product and the price at which it can be sold.
