Shopify, provider of an e-commerce platform for multichannel sales, has now presented the cross-border solution Shopify Markets. This enables German retailers of all sizes to sell internationally. The background: Sales in global online retail rose by 28 percent to 4.3 trillion US dollars in 2020, according to eMarketer’s e-commerce update. An increasing proportion of these sales take place across borders. In July alone, more than 40 percent of German retailers who use Shopify were already selling abroad.
The demand from international buyers is high, because a third of the traffic on German Shopify online shops comes from abroad. However, despite the opportunities offered by international distribution, country-specific properties can discourage merchants from selling across borders. This includes currencies, languages or payment methods companies and retailers
Use international sales with Shopify Markets
“We believe that the future of retail is to be everywhere. As internet usage is increasing rapidly worldwide, cross-border trade will become more and more interesting for every company – regardless of size or budget, “explains Hagen Meischner, EMEA Agency & Technology Partnerships Lead at Shopify. “Shopify Markets makes it easy for merchants of all sizes to take advantage of the. In this way, retailers can identify international markets, start sales and optimize them via a single Shopify shop. ”
Cross-border trade as growth potential
Rapid global e-commerce growth has changed consumer expectations of independent and long-established brands alike. In 2020, merchants used the Shopify platform to generate $ 20 billion in international trade. And the further potential is great. In July 202, for example, over 27 percent of the hits on Shopify shops were made by customers from abroad. Shopify Markets enables merchants to control global sales from a Shopify shop and thus be present wherever their customers are.
The advantages of Shopify Markets at a glance
- Easily develop new markets: With just a few clicks, retailers can tap new markets and open their business to customers around the world. Dealers can then manage these from a central dashboard to get a unified view of their entire business.
- The customer trust and the conversion rate Increase with tailor-made offers in the market: The conversion increases by up to 1.13 times or 1.4 times if online shops display products to buyers in their language and prices in their currency. To help merchants deliver the best experience to customers in all regions, Shopify Markets allows you to easily customize the following features:
– Local currencies and payment methods
– Pricing and rounding per market
– Product availability per store
– Local languages
– Local domains with automatic SEO optimization
– Automatically display the correct currency / language based on the buyers’ country
– Settlement of customs and import taxes for buyers to avoid unforeseen costs in product delivery
- Insights into cross-border trade Receive and apply automatically: Shopify relies on the aggregated data from the more than 1.7 million merchants worldwide to share insights and recommendations on where, when and how merchants can most effectively sell in a new region. Smart settings allow traders to get the best results automatically without the need for a dedicated global team. For example, merchants no longer need to find out which local payment methods are most popular in each market, because Shopify automatically shows the best payment methods at the checkout.
- Save time with a central platform for global sales: Dealers can create the local shops from a central dashboard. So you can manage all cross-border trade in a single place and get an overview of your entire business.
Paul Valentine implements growth strategy through internationalization
Thomas Röser, Head of E-Commerce at Paul Valentine, sees internationalization as a growing opportunity for the e-commerce business: “For us, international sales are an important part of our growth strategy. We now sell very successfully in over 170 countries and over 40 percent of our sales come from outside Germany. But global e-commerce is complex and the requirements are constantly changing. This forces us to constantly develop and adapt our strategy. For this we need a reliable partner who thinks ahead and supports us with necessary adjustments in existing markets as well as with the expansion and development of new countries. We found it in Shopify. “