This post is by Craig Agutter, EMEA Ecommerce Manager at international currency transfer provider World First.
For online sellers across the world, Asia is already a lucrative market but it is the rate of growth and scale that really sets it apart. China’s online retail market is already the world’s largest with over US$600 billion of sales in 2015 according to research by McKinsey.
However, forecasters believe the current size has barely scratched the surface, with China’s low tier cities along with other countries in Southeast Asia beginning to benefit from the ecommerce boom. In Thailand, 85% of consumers not living in major metropolitan hubs use mobile devices for their online purchases.
So, the question every ambitious online seller should be asking is: how can I tap into these active and growing markets in Asia? Below, we look at the top marketplaces and give you tips on taking advantage of the opportunities for online sellers in Asia.
It’s time for our annual round-up of ecommerce predictions for the year ahead!
This year we have over fifty experts from five continents – from the USA to the UK, Ireland to Israel, Singapore to South Africa and more. It’s the most comprehensive panel of online sellers, technology vendors, service providers and ecommerce consultants ever assembled.
They have a lot to say about what to expect in 2017, taking in Amazon, eBay, private labeling, sourcing from China, multichannel ecommerce, consumer expectations, social media and more.
So here it is: our Expert Voices Ecommerce Predictions for 2017.
This post is by James Storie-Pugh, Director at Pivot International. Pivot are an ecommerce agency specializing in global ecommerce marketplaces. Based in London, they act as the local representative office for marketplaces around the world including Newegg, MarkaVIP, JadoPado and Trade Me. James has worked in ecommerce and digital marketing since 2008, for companies in France, the UK and the USA.
New Zealand might not be an obvious choice for international sellers looking to expand – it’s an isolated island nation in the South Pacific, thousands of miles from its nearest neighbor Australia, with a population of less than five million.
But New Zealand is also a well developed English-speaking country with a healthy economy, high average incomes and excellent access to the internet. Online spending by New Zealanders (known as “Kiwis”) is expected to reach nearly NZ$6 billion in 2016 – an average of $1,200 for every man, woman and child.
Nearly 2 million Kiwis buy online, and 38% of their purchases go overseas to international sellers. Those international sales are estimated to be worth NZ$1.6 billion. Two-thirds of all online shoppers in New Zealand have made a purchase from an overseas business in the last three months.
Where do Kiwis go to make those international purchases? They go to homegrown online marketplace Trade Me. Responsible for nearly three-quarters of all domestic web traffic, Trade Me has been described as a basic human right for Kiwis.
Here’s what you need to know about selling there as an international business.
When marketplace sellers get together, the conversation often turns to multichannel management software. Many sellers will talk knowledgeably about different vendors, but others will look on blankly.
After a while, when there is a break in the conversation, one of the sellers “in the know” will notice the vacant stares. How can they explain what they’re talking about? Maybe by saying how this kind of software synchronizes stock levels across marketplaces, creates listings and manages orders? Well they could, but normally they don’t. They just say, “Oh you know, like ChannelAdvisor!” And the blank looks fade instantly.
ChannelAdvisor is pretty much synonymous with “marketplace management software”. They’ve been in this business since 2001, longer than almost anyone else. They have over 2,800 customers globally, and in 2015 managed $6.8 billion in GMV (gross merchandise volume – total sales). ChannelAdvisor supports over sixty sales channels around the world, and the company went public on the New York Stock Exchange in 2013. There’s no-one else like them among the many multichannel software vendors.
I caught up recently with Mike Shapaker, ChannelAdvisor’s Managing Director for the EMEA region (covering Europe, the Middle East and Africa). We talked about how this industry giant came to exist, the features they have been working on recently, and the company’s plans for the future.
The most popular software category in the Web Retailer directory is also the most complex: Multichannel Management.
That’s no coincidence. Selling on one marketplace (Amazon or eBay for example) is hard enough. Throw multiple marketplaces into the mix, and maybe your own webstore too, and you have a recipe for disaster – if you try to do it without the right system in place.
So this post is all about multichannel management software: what it is, what it does, key features, how to choose a supplier and more.