Selling Internationally: Best Practices for Amazon Sellers
by Liz Fickenscher, on July 8, 2016
Jason Magee, Head of eCommerce Partnerships at WorldFirst and Steven Barasch, Director of Operations at First Choice Shipping, sat down with our own Colleen Quattlebaum for a chat about selling internationally on the Amazon marketplace.
Many eCommerce merchants are interested in expanding their businesses for a more global reach. But not many know the challenges involved in selling internationally. Jason brings his knowledge of the currency market to the conversation, while Steven teaches us about international shipping, and how to save money.
Webinar recap written by Becky Trowbridge
This post is accurate as of the date of publication. Some features and information may have changed due to product updates or Amazon policy changes.
International Sales: Are You Ready to Grow Global?
The Amazon marketplace has opened doors for global citizens all over the world. If you’re ready to grow your brand, increase sales, and diversify your business, you may want to consider expanding into international marketplaces.
Selling your products internationally could provide a number of benefits for your business. We recently hosted a webinar on the topic with FirstChoice Shipping and WorldFirst. In this post, we’ll share some international sales insight from that webinar.
International Sales Perks
Selling your products internationally offers a way to increase brand recognition and get your items into other marketplaces. In many areas, you’ll face less competition in addition to a high volume of traffic. In a pool of fewer sellers, your likelihood of snagging the buy box for a product often increases.
Depending on your product, you may have between 50-100% less competition in another market. This allows you to sell your items at higher margins. You may find that items that have been selling slowly in your home market sell very quickly in another market. Diversifying your business by selling internationally also gives you an opportunity to take advantage of diverse cultural norms and holidays.
Things to Consider
Research your new marketplace(s) prior to listing products for sale. This allows you to get an idea of what items are performing well in that marketplace. You can also identify gaps that may be filled by your products. Expand slowly and test your items in various markets.
Because the currency market is always changing, your profits will fluctuate. If you’re buying items in another country where the dollar is strong, you have more purchasing power. Selling in a country where the dollar is weak allows you to make more money since the exchange rate is in your favor.
International shipping may seem like a major hassle. After all, as an eCommercemerchant you know that speedy delivery is highly sought after by your customers. However, it’s actually more efficient—not to mention faster!—to ship by air than by sea. But when it comes to making sure your items reach buyers quickly, local shipping regulations can become a stumbling block. Check for local companies in your chosen marketplaces that work with international shippers. These companies can manage tasks such as customs clearance, duty, VAT, and more.