5 tips for selling products internationally

The good news is that a world of potential customers is out there, just waiting to buy what you’re selling. You just have to think a little more globally.
 
If you have any doubts that selling internationally is a real opportunity for your business, just look at the numbers: according to a Forrester Research, cross-border B2C e-commerce is expected to more than double to reach $629 billion by 2022.¹ And with broadened Internet availability, buyers in developing – and even established – markets will have better access to businesses that sell products online all over the world. Businesses just like yours. 
First things first: Put a plan in place.
Before you open your doors to the world, you have to put a strategy in place. We’ve outlined five critical areas of planning, so you’ll be well-prepared to help give your customer base a major boost.

1. Find your target markets. Like any new venture, it pays to do your homework. Your first step is to learn who your international customers are, what they buy, and how they shop.

• Gather market intelligence. Start by looking at your own data to see from which countries people are already buying your products. Try expanding your reach into these markets, even if only to test selling specific products.
• Research demand for your product and local buying trends. To help inform your target markets, look into the top countries that have strong demand for your product and niche specialty. Is there demand or a gap in the market? Are there specific holidays during which your product might be popular? While you’re at it, try to learn as much as you can about consumers’ spending patterns and from which countries they typically buy.

2. Consider how customers want to pay. Next, start thinking about how you’ll get paid. And as you research payment providers, consider how your buyers prefer to pay, and a payment provider’s reputation.

• Research local buyers’ preferred payment methods. These vary significantly depending on the country. It probably won’t surprise you that most people prefer paying in their local currency. Some payment providers will let you list products in a number of different currencies. If you can’t offer payment in local currency, make sure to give a currency conversion so customers can see what they’re paying.
• Choose a payment provider with a reputation for security. Look for a payment provider with a strong global reputation. PayPal, for instance, consistently ranks among the top payment methods buyers choose for international payments – because it’s a secure way to pay.² For businesses, we’ll give you access to local funding methods, without the hassle of having to open multiple merchant accounts overseas. You can accept payments in more than 200 markets in 25 currencies.³ And it’s already built into the top ecommerce platforms and carts, so setup is easy.

3. Pay close attention to regulations. Of course, selling internationally brings a whole new set of rules. Once you’ve decided where you’ll sell, take the time to look into specific rules and regulations for that country. A few key areas to consider:

• Duties and taxes. Find out if duties and taxes will affect the prices of items you plan to sell in target markets. Make sure you understand the rules that apply to your products so you can let your customers know about any expenses they’re expected to pay from the outset.
• Customs. All your international shipments will have to make their way through customs, the agency that regulates shipments entering a country or region. Each package will need a customs form on the outside; some shipping services even help take care of this – do some checking to see if yours does.
• Free-trade agreements. These agreements are good news for international sellers because they help reduce or eliminate tariffs for some products.