Global sales trends are shifting and ecommerce is growing at a furious pace. According to Emarketer, global ecommerce sales have topped 1.2 trillion dollars, and emerging markets are behind the continued expansion of ecommerce. Ecommerce has matured in the western markets, and it is gradually reaching a point of saturation.
But, there is a tremendous scope for ecommerce in emerging markets like India, China, Russia and Brazil. Most of the growth in digital sales will come from emerging markets.
The smart mobile revolution has made it possible for customers in the emerging markets like India, China and Brazil to access the Internet anytime, anywhere. These countries have a strong infrastructure, a rising middle class and increasing spending capacity. All the element needs for an ecommerce boom are present, and online sales in these markets are on the rise.
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Is your online selling model ready for this? Are you fully prepared to take benefit of the upcoming ecommerce boom in emerging markets? If not, it is time you formulate a strategy to sell in these markets. Keeping an eye on the below-mentioned factors will help your online business thrive in these exciting markets.
While there are a number of people in all these countries who can understand English, the majority use and know only the local language. As you are dealing with customers with low-proficiency in English, it is best to make sure that the content on your store is written in local languages. In countries like India, several regions have different languages; so, you need to make sure that customer have a clear option to choose the language of their choice.
As we have seen in US and UK, most of the customers use their mobiles to research products and services. But, only a fraction of them actually buy the good through the mobile device. For that, they either use their PCs or they visit the store directly. A large number of consumers in emerging markets are connected to the Internet only through their smartphones – they do not have PCs or laptops.
So, after researching for products or services, they visit physical stores to make a purchase. By offering store-locator services on your mobile app or mobile website, you can improve your chances of overall sales.
Young adults in the emerging nations are early adopters. They are familiar with ecommerce and m-commerce and do not hesitate to do the bulk of their shopping online.
By integrating social media with your online store, you increase the chances of these customers sharing reviews and posting comments about your products. As social media is extremely popular in all the emerging markets, you need to integrate your store with social media and also formulate a clear and effective marketing strategy for social media.
Consumers in countries like India and China are cost-conscious and they are adepts at researching products to find the best bargain. Most online stores struggle to build any loyalty with the users, no matter what country they are selling in, because the customers simply want to buy the product at the best price.
So, by offering promotional discounts, you can grab the attention of the users. Email marketing targeting customers interested in using discounts and coupons can also drive visitors to your store and boost sales. You can also integrate this strategy with contextual and location-based alerts to improve the efficiency of the entire process.
As noted above, Internet access through smartphones enables a number of users to shop online. These individuals may not have access to conventional devices like PCs and laptops. So, you cannot create a truncated mobile version of your ecommerce store.
All the products displayed on the main online store need to be displayed on the mobile website. The mobile website or mobile application should offer everything that the web version of the site does. If you do not want to develop a separate ecommerce mobile website, you can go for a responsive website.
While the underlying principles of online selling success remain the same, different markets have their peculiarities. As an ecommerce business, by keeping your eyes open to these five ideas, you will improve your chances of success in the emerging markets.
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