The top online retailers think globally
Ecommerce is an important step for any retailer to take, as the decision gives merchants access to a considerable volume of new customers. Despite lacking a brick-and-mortar location in a region, businesses can sell their wares to anyone with an Internet connection. The decision is not without its challenges, such as figuring out the best way to deliver goods and manage inventory, but the examples set by other retailers can help overcome these obstacles.
But just as ecommerce means thinking about a wider variety of customers, it also means considering turning to international sales. According to Internet Retailer's Top 500 Guide, the largest online apparel retailers operate on a global scale. The top apparel and accessories business, the Otto Group, commands 5.8 percent of the industry's Web-based market, and it operates in dozens of countries through its websites and various holdings.
Along with international sales, Internet Retailer also emphasized that the top online retailers also focus on regularly acquiring other companies. With Hudson's Bay Co.'s recent purchase of Saks Inc., the source stated that the Canadian-based e-retailer might move from its No. 158 position in the Top 500 Guide to one of the top 10 slots.
International ecommerce can also help brick-and-mortar sales
Those online merchants that prefer to think locally may eventually find themselves competing against numerous international apparel merchants, as is happening in Australia, according to the Sydney Morning Herald. Some of the retailers planning to set up shop in the country with new brick-and-mortar stores were inspired by the success of their online offerings within the nation. The source noted that for e-retailer Asos, sales in Australia were only outmatched by those in the company's native United Kingdom. This suggests that while online purchases can bolster current success, they can also provide insight into new, untapped markets that may be worth investing in.
Because of the international nature of retail, merchants working within multiple countries or thinking of expanding into them should also deploy versatile retail software capable of working across borders and language barriers alike. These systems should also integrate despite linguistic differences to ensure that decision-makers are receiving the best retail business intelligence possible throughout all online transactions and levels of their operation. International sales can help unlock new opportunities, and robust analytics can assist in these efforts.
