Even though the world is moving towards technological progress, going global is not easy. However, e-commerce platforms like Amazon are a great place to make your business presence known around the world, especially if you already have a business presence on Amazon and wish to grow it further.
According to statistics, about 58% of Amazon sellers are profitable within a year of launching their products.
If you’re looking for great tips and tricks on how to grow and succeed in an international environment, keep reading this article!
Check International Interest
Before you start thinking about introducing your products to international customers, you need to first check whether your plan will work or not.
FBA Export is a great way to test international interest in your products because you don’t need to register on any complicated platform or pay any additional fees.
You can also look for a reliable Amazon Management Services provider to know which products are good enough to be launched in international markets.
In addition, Amazon will also monitor requirements, customs clearance, and shipping and handling. In FBA Export, you can also narrow your search to ensure you select only the countries you want.
Set up your Account Properly
When it comes to setting up your account, product registration is required. It helps you protect your trademarks worldwide and gives your company the credibility that customers want.
Next, you should also set up a simple payment method, which can be a little tricky in the context of international business. If you are thinking of setting up a new local market place in another country, you can use local bank accounts.
Amazon Currency Converter for Seller (ACCS) will help you receive payments in your local currency from international banks. Amazon will deduct the bank transfer fee and deposit the amount into your account every two weeks.
Create an Accurate Product List
If you plan to launch a new product in international markets, you should create a product list first. If there are many products and you want to save time and energy, don’t even create them in bulk.
Depending on your target market, your audience will look for different types of discounts or offers. For example, Amazon Japan attracts customers with loyalty points, so you can offer these points to customers who shop through Amazon’s Japan web handle.
Understanding the listing process can best be done by contacting an Amazon listing agency. They will tell you the most accurate listing strategies.
Know Regulatory Requirements
Complying with local laws and tax systems in foreign markets is important if you don’t want to get into legal trouble.
Conduct extensive research on regional tax structures, import and export licensing, and regulatory requirements. When it comes to taxes, you should remember value-added tax (VAT) and income taxes.
You also need to check the compliance of the product and ensure that the product meets the regulatory and safety standards of the market when you plan to sell it, especially if you are selling food products.
Many items such as medicines or supplements may require special approval to be sold in international markets, too.
Sell on Amazon Global Store
Amazon Global Store (AGS) is an alternative to FBA Export but works in a similar way. First, orders are filled by US Amazon sellers themselves, so your products can get local listings on Amazon’s international domains.
In addition, you can get a wider audience base without having to list your products separately. You can also get benefits like local advertising and SEO strategies in the regions you target.
AGS also provides you with insights into how your products are doing in international markets and what their future prospects are. However, the only drawback is that shipping costs can be high.
The conclusion
While these are some great strategies for expanding your Amazon business globally, one important tip that most sellers will tell you is to have a local presence in these markets. However, this can only be done after realizing that your products are doing well in international online markets.
Once you are ready to set up your local presence, you can improve the performance of the product in terms of traffic and conversion rates.
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