When you have an online store on the Shopify platform, you should consider entering new markets because this brings good opportunities to develop your brand and boost your sales.
there are three basic concepts to keep in mind when you decide it’s worthwhile to test out a new market. They are shipping, taxation, and marketing. Based on which country you’re targeting, these aspects will vary.
Businesses selling primarily on a platform can take advantage of fulfillment by its services. It means that you can partner directly with this platform and accept its shipping rates to transport your goods to customers in hundreds of different countries. This could be ideal depending on your relationship with the platform.
You’ll have to partner with third-party companies to handle taxation and translations. Then, you can get accurate product descriptions, establish regulations and work on currency conversions. These companies may charge a fee depending on the level of service.
You can cooperate with other companies to handle the shipping and taxation aspect of your emergence into new markets if you’re a business owner with an established e-commerce website.
For example, Easyship is the leading Shopify shipping app. When a customer reaches the checkout screen on their shopping cart, it populates shipping costs and various courier services. The company handles all taxation and regulations.
Small businesses can enter new markets using a variety of channels. EasyShip can help them ship the products and solve the taxation solution for free.
The international average checkout at $200 is higher than domestic versus at $40. Thus, you need to partner with other organizations and companies to give the best solution to ship and tax when entering the new market.