Shopify has helped many small businesses easily sell their products across the globe. Shopify Markets is the prime initiative focused on felicitating international selling for Shopify merchants. Recently, the company launched Shopify Markets Pro to strengthen its commitment.
The Canada-based e-commerce platform also released data of international selling by its merchant partners from different parts of the world. From India, Shopify merchants sold their products to over 70 million buyers across the globe in 2021. Now data from Australia claims that merchants based down under sold their products to over 92 million shoppers worldwide. In Australia, a single merchant sold products to an average of 10 international markets.
The boom of online shopping during the pandemic has meant more Australian merchants are now selling to more countries and international consumers than ever before.
Shaun Broughton, Managing Director for the Asia-Pacific, Shopify
International Selling
As many as 175,000 merchants use Shopify Markets to sell their products across the internet. In the financial year 2021, Shopify witnessed 67.9 percent rise in international selling. The data suggests that potential is infinite for local e-commerce stores to market and their products.
With Shopify Markets Pro, the e-commerce giant also launched Translate & Adapt app recently. It will felicitate merchants in communicating with shoppers in their primary language. According to Shopify data, this missing feature will now improve cross-border sales by 13 percent.
“The boom of online shopping during the pandemic has meant more Australian merchants are now selling to more countries and international consumers than ever before,” Shaun Broughton, Shopify’s Managing Director for the Asia-Pacific region, said as quoted by powerretail.com.au.
“However, with competition on the rise, expanding to new markets without a localised consumer experience means merchants leave untapped potential on the table,” Broughton added.
Shopify in Australia
Shopify sees a lot of potential in Australian online merchants. Last month, it launched Shopify Capital in Australia to give quick access to funding to Australian merchants selling on its retail platform. By including lending in digital offerings, Shopify aims at helping retailers boost their online sales. Shopify promised small business owners in Australia can access up to $2.5 million AUD. Sales data from the platform will be evaluated to assess risk and lend off its balance sheet.
“Shopify Markets overhauls how Australian merchants build high-touch storefronts in new countries, all from a single store and platform, which is a game changer for increasing consumer empathy and conversion,” Broughton heaped praise on Australian merchants.
Uncertain Times
Many merchants across the globe shifted their businesses to online platforms in the COVID-hit 2020. However, following a boom in online sales, the figures started to dip worldwide with consumer spending power facing threats of recession. In July, online sales dipped by 34 percent in Australia, claims Pattern.
With microeconomic conditions, local merchants are scared to step in to new international markets. Currency conversion rates are fluctuating more than usual to make things worse. However, Shopify is doing its part to assist them with Markets Pro and Translate & Adapt app.
According to Broughton, this is the right for opportunist sellers to set up their cross-border online stores as a deep and meaningful relationships with international shoppers will ensure speedy success when consumer selling power comes back to its normal.
“Many retailers are feeling overwhelmed by the uncertainty in today’s economy. Rising inflation and the lingering effects of the pandemic have retailers wondering how to prepare for the future. But, with preparation and flexibility, times like these can be an opportunity to increase customer loyalty, boost productivity, strengthen market position and broaden reach to an international market,” Broughton said.
“For example, both here and overseas, our advice to retailers is to have a strong customer focus as understanding consumers preferences is critical in a time like this. Brands should be open to collecting customer feedback and doing their research on why consumers are shopping and how brands best fit their needs,” he added.
Seasonal Selling
Broughton was of the opinion that cross-border e-commerce is the most useful for seasonal sellers as once the season shuts in one country, the merchant can focus selling in another one.
“Opening up to new markets also helps businesses navigate seasonal fluctuations and country-specific conditions by offsetting dips in one market with growth in another. We often see this approach with seasonal businesses, however, we’re now seeing more businesses look to hedge their business across core markets where there is demand for their products,” Broughton said.
Shopify also asists local merchants in delivery and manage logistics required as per different country norms. This helps merchants save cost and time to think of measures to promote locally-produced products in international market.
“Shopify assists with logistics and delivery through our Shopify Shipping, which allows merchants to concentrate on their other business needs and not be buried down in fulfilling orders. We have many partners, including Sendle in Australia, who ships to more than 220 international locations,” Broughton explained.
“Shopify Shipping with Sendle makes it easier and more affordable for our merchants to access discounted domestic and international shipping rates up to 33.6%, bulk download and print shipping labels from their phone, track orders and pay one simple bill,” he added.
