Cross-border trade: An opportunity for your business
Learn about some key points to make your products or services available to people from other countries.
MORE IN THIS SECTION
The growth of digital sales at a global level is a phenomenon that has been boosted in the last decade, not only as a local market experience, but also as an opportunity, both to acquire products sold in stores in other countries, and to increase offer businesses access to foreign costumers interested in what they sell.
Taking into account PayPal's 2022 cross-border trade report, Forbes highlighted some keys for businesses to expand their borders through ecommerce and continue to boost their businesses in the midst of these periods of economic recovery.
The report points out that 42% of online shoppers feel more comfortable making cross-border purchases than in 2021, a scenario that was strengthened during the pandemic, especially in terms of logistics and security, and that now presents attractive opportunities for merchants who want to sell products in the United States and other countries.
Forbes highlights the key points that every business must adjust if it wants to take advantage of the benefits of entering a border-free market:
- Security: The strengthening in the feeling of trust in users who buy online has increased significantly. Thanks to advances in anti-fraud technology, both in commercial platforms and in financial institutions, the number of people looking for products beyond their borders continues to grow.
- Experience: In addition to reliability, online shoppers are also looking for a simple and intuitive experience, but also an offer that gives them the necessary information about the product in a complete and novel way. The featured report notes that 46% of online shoppers say they are more likely to buy from retailers that offer virtual or digital experiences.
- Prices: Although the value of the products varies according to the specific taxes of each country and shipping costs, ecommerce offers buyers opportunities to find better prices than in physical stores, something that undoubtedly marks the greatest interest in the commercial operation.
Finally, the results of the report also invite business owners to be socially responsible in their operations, as well as more active in terms of interactions through social networks and digital channels. This, taking into account that buyers currently pay much more attention to the contributions to sustainability of companies, and to the way they interact through new technologies.
For Latin America, digital trade offers unbeatable opportunities if the giant U.S. market and the other countries in the region are taken advantage of, a scenario that works in two ways and that promises positive results in the search for a comprehensive economic recovery.