The emerge and spreading widely of eCommerce, a myriad of online stores realize the global sales of commodities will bring enormous business growth opportunities by offering international shipping. Finding out the shipping process can be an immense headache for merchants. To balance the costs of global shipping needs to be both affordable to consumers and financially profitable for your store. But how?
As a store owner you want to process and satisfy as many orders as possible but it may not be worthwhile for your business logistically and financially for international shipping.
In this article, Autoketing puts together a list of things that online retailers should consider when offering international shipping. And what things that customers require and desperately need from your store when they decide to order a good from another country.
Balance shipping time and cost based on product type
Price is one of the main obstacles for businesses extending to the international market. International shipping naturally more costly than domestic shipping. The simple truth is that your company may just be unfit for foreign shipping. It can be difficult to ship internationally for a range of reasons such as financial costs, scale, perishability and so on. The trick is to find the best balance between the amount of time it takes for your shipment to reach its destination, the cost of the shipping mode and the type of product that you are planning to send.
At least your products compatible with some standards like:
Lightweight enough to transport to foreign destinations affordably by air.
Consider between: Faster shipping with higher prices, or slower shipping at lower ones?
Durable enough to survive a longer, less expensive trip by sea.
See more: Shipping Bar Master, a supportive friendly application boosting customer’s purchasing opportunities.
No need to conquer the world
International shipping is more difficult than packing a box and putting it in the post. Each country is different and making one-size-fits-all for the entire world would just not work. We suggest you first target only a few countries that you are certain would have an interest in your goods.
Countries with geographical and cultural similarities are generally the logical option and are standard practice for most merchants because there won’t typically be a major difference in shipping laws and rules. International shipping from Canada to the United States or from the United Kingdom to Ireland is a perfect way to promote your business abroad shipping and further down the road you can slowly extend your company to other countries rather than jumping in.
Understand customs, duties
Because this charge depends on the value of the product and the country to which it is delivered, an eCommerce store may have some difficulty keeping up with various countries’ custom fees.
Many merchants, therefore, tend to pass this fee on to buyers in countries that charge VAT (Value Added Tax).
Solution: Don’t let the customer come across this as an unpleasant surprise. Update your website with a note to foreign clients.
Know Exchange Rates
As a merchant, when spreading to the international market, you’ve got to know that foreign currency exchange rates might be high. For instance, when you sell internationally through Canada’s Shopify marketplace, or Shopify Europe and Shopify UK, you need to shop for the best exchange rates to translate the revenue back into your home currency.
You might need some help, Currency Converter Box, is one of the best-optimized currency converter solution, auto currency switcher on location, merchants can use with ease.
Validate International Shipping Addresses
Given the figures mentioned above, you are only waiting for big opportunities and new markets to build on. Just make sure you know exactly where you want to ship before you buy a product. It’s a waste of money shipping something that gets returned so it can be especially difficult to have to double on foreign delivery.
A report by E-Commerce Times states that failed deliveries cost large retailers an average of $85.00 every time.
Your reputation is therefore tarnished as the customer connects the retailer with a missed delivery, not the carrier. One dissatisfied customer with a bad shopping experience leads to low ‘advertising’ word of mouth. Can you afford the triple blow to your smaller eCommerce business?
Ready for International Shipping?
Once all is said and done, international shipping is much more complicated than domestic shipping.
But with the right logistics structures and processes in place, you can boost your profits by tapping into foreign markets. You’ll save time and money by working with an established logistics provider.
See more blog at: Autoketing.