By expanding your business globally, you are going to replicate your target audience by 5-10x. Thus more visibility of your products which might yield in higher sales of your products globally.
01. Bigger Market Size.
If you are expanding your brand globally and your focus is to sell in high disposable markets, there are chances that you will incur higher profit margins. Thus a stronger bottom line.
02. Higher Profit Margins.
Selling your products globally will help you build a solid brand identity for your brand in your home country as well as other countries. Take pride in stating the fact that you are Global Brand.
03. Global Brand Identity.
Now diversify your risk by creating multiple sales and liquidation channels across geographies. Sell unsold inventory in another region and let there be no dead stock. Revenue streams becomes more diversified.
04. Risk Diversification.
Take advantage of seasonality factor in global trade. Sell and prepare well in advance about a seasonal event around the globe. An off season in a local market doesn't affect business as there could be a peak season in an another country.
05. Seasonality Benefits.
Most countries provide exports related incentives to exporters. Example in India you have RoDEPT or MEIS by Govt of India. Likewise find you in your country what export benefits you have. Like FTA (Free trade agreement) with some country etc.
06. Export Incentives
SOME OF THE ADVANTAGES OF GLOBAL EXPANSION
Niryati Global's CrossBorder eCommerce Solutions.
Global Business expansion is expensive and time consuming. However, Niryati Global has build minimum viable solutions for Brands aspiring to explore global markets through CrossBorder eCommerce.
Niryati has its business operations in 4 countries and provide market access in each of these countries along with local warehousing & last mile delivery solutions too.
United States of America (USA)
United Arab Emirates (UAE)
Singapore & rest of South East Asia
India
International Shipping Costs are high that affect the selling price of your goods. Moreover Product returns is a massive challenge.
Higher Shipping & Return Costs
Understanding local business is important to understand the buyer preferences. Such data is difficult to source. Thus an informed decision may lead to losses.
No Local Business Intelligence
If you are not a local incorporated business in your target country sometimes getting access to online channels is difficult.
Access to Less Global Online Channels
Each country has its own sets of compliances around imports and local sales. Thus it becomes difficult sometimes to understand everything dealing with multiple countries laws.
Strict Compliances & Regulations
Few Challenges in CrossBorder eCommerce
B2B exports is great however eCommerce exports gives you the early access to a global market. The sales cycle of online exports is very less compared to traditional exports. Also the remittance is faster along with primary data to understand the buyer's choice.
Easy Go To Market Access For Global Expansion
Determine the PMF (Product market fit) for your products for a certain geography. Identify the Hero SKUs for a region and build similar assortments. Also what works well in one territory might not do well in another. Thus PMF is crucial for each country.
Determine Product Market Fit
Doing multichannel eCommerce in a Crossborder eCommerce ecosystem gives you access for very high discovery and awareness of your products. Thus more the reach, better the visibility that might results in higher product sales.
Higher Reach to Target Audience
