“Never depend on a single income. Make investment to create a second source.”
― Warren Buffett.
Indeed, we need to work on multiple sources of income. Going global for Shopify Store is a way of expanding business and generating income. In this digital age, the desire to expand worldwide is an achievable task. Shopify data indicates that approximately 30% of your online store’s visitors originate from the international market.
The benefits of global e-commerce expansion are very well known to us. You will get access to new markets and generate revenue streams, enhance your brand visibility, and hence improve profitability. Despite rushing, you need to strategize the process of expansion. Developing a comprehensive plan will enable you to optimize costs and prioritize the areas that will significantly impact your business.
In this blog, we will discuss the requirements to go global. Let’s get more profound insights to get universal with our Shopify Stores.
1. Discover the Potential of the International Market
It is critical to understand the potential of the International market. To understand your international consumers who are familiar with your brand you need to do some data analytics. This includes analyzing web tracking data to understand which countries people are browsing your site from.
Additionally, assessing traffic volume and trends on non-transactional sites in the target countries can provide valuable insights. It is also crucial to consider referrers and social media signals in these markets to better understand consumer behavior.
2. Being Adaptive to the Market
According to Darwin’s theory, adaptation is the key to success in any competition. Yes, you heard it right we need to adapt as per our market to universally establish our presence.
Enhance your Shopify store’s appeal and relevance by incorporating localized language, captivating product photography featuring local models, identifying the most popular or common social channels in the region, and understanding your target audience to make necessary adjustments.
Craft effective pricing strategies that align with your business goals and target market. Regularly evaluate and adjust your pricing strategy to stay competitive in the market and meet the changing needs of your customers. Stay connected to your customers and boost conversions with a tailored shopping experience.
3. Multicurrency Payment Method
If you are planning to sell around the world, setting up multiple currencies in your Shopify store is a great way to make it easier for them to shop with you. Integrate reliable payment gateways or payment processors that support multiple currencies, allowing customers to make purchases in their preferred currency.
Implement dynamic currency conversion to display prices accurately and offer a smooth checkout experience. Ensure compliance with international payment regulations and provide transparent currency conversion rates to build trust with your customers. The latest Shopify innovation, Shopify’s latest offering Shopify Bill Pay can be an excellent tool for managing B2B payments in various currencies.
4. Managing Multi-stores globally
Yes, this could be a tedious job, you will oversee multiple inventories, handle inquiries from clients across various locations and languages, and manage localized content. There would be more administrative work involved and if you can manage correctly you will be at higher sales and profits.
Shopify’s own platform, Shopify Market, enables merchants to manage one global store to create localized storefronts in different countries.
Plus, you can also leverage the powerful features of Salesforce CRM to manage all your multiple stores from one unified platform.
Connecting multiple stores to Salesforce gets even more simpler and less costly when you sync them Sync Made Easy connector app.
A top rated app on Salesforce AppExchange, Sync Made Easy effortlessly syncs products, variants, locations, inventory, collections, orders, draft orders, and order fulfillment with Salesofrce in real-time.
Final Thoughts
While there are numerous additional considerations and potential pitfalls to be mindful of, by adhering to the guidelines above, you can establish a clear roadmap for successfully launching your international Shopify business.
If you enjoy the blog, keep an eye out for more, and make sure to install the Sync Made Easy app from Salesforce AppExchange. Get it now!
