Starting your eCommerce business by selling domestically within your home country is a great way to test the waters and see what's sustainable.
However, cross-border selling is becoming widely accepted, and the trend continues to rise. By choosing not to sell and ship internationally, you're missing out on a big amount of revenue!
If you're interested in selling worldwide, a solid first step would be to figure out your target markets. Here's how!
What is a target market?
Your target market is the group of people you want to sell your product or service to.
In eCommerce, target markets are extensive because the world is your oyster. With over 220 countries to choose from, you need to find out which countries have the target market that will be the most profitable for you.
Finding target markets for international eCommerce
If you haven't already done this for your domestic audience, start by defining your target demographic. Think about your target customer in terms of the following:
- Income level
- Education level
- Marital or family status
- The ethnic background of your customers
It may also be useful for you to evaluate your target audience psychographics. Different nations have different cultures and ethical values.
In international eCommerce, you should be aware of the attitudes and behavior of the people in your destination countries. What are the things they can’t tolerate as society and what are the values they cherish most?
Based on this information you should decide if that country is a good match for your particular product and service.
What else to consider
Evaluating the following can also help you narrow down your target markets:
- Global buying trends. Know the countries where there is high demand for your product.
- Past sales reports. Look at your past sales to find patterns on what's popular where. This can also be the basis of your online marketing strategy.
- Can you import this product? It sounds basic, but it's true - make sure your product is not a restricted or banned item if you're considering a new destination country! Find out what's restricted or banned from our Countries page.
The next steps
After you have decided which markets to target, you need to figure out how you'll efficiently fulfill orders to them.
If you are aiming for markets of different regions, you might need a multi-regional shipping company or work with multiple shipping couriers.
Also, you will need to know any additional duties or taxes that your customer may need to pay, and be confident that the customer will be willing to pay these costs.
For additional resources on selling internationally, check out our guide for international shipping!