Forrester Research, Inc. says that as more brands become international we will continue to see a growing trend in eCommerce, creating new opportunities.
Below are the 5 trends that you will see gaining momentum by the end of 2014:
1. Mobile traffic and sales will continue to climb. In 2014, the percentage of traffic and total online orders placed via mobile devices are set to increase in virtually every market worldwide, and Forrester expects that a growing number of brands will launch new mobile websites and apps in response.
2. Brands will increasingly look to marketplaces to sell online. In 2014, Forrester believes that brands will continue to migrate to marketplaces to expand their online presence and to realize relatively quick (if sometimes low-margin) revenue growth. In China, for example, marketplaces like Tmall have become an entry point for many brands.
3. Retailers will need to plan for key online shopping dates everywhere in the world. US and European brands expanding into new global markets will increasingly have to plan for key eCommerce-related dates overseas just as they have in their home markets. In 2013, for example, Singles' Day in China saw some $5.7 billion in online sales.
4. New market entry will be easier as vendors and retailers roll out new offerings for brands. Going forward, an increasing number of players will aim to serve as a single point of contact for brands as they expand into new global markets.
5. Profitability in global markets will remain elusive for many. Finally, in 2014, many brands that expand internationally — especially those that launch direct-to-consumer websites — will still struggle to reach profitability.
There is not better time than now to get started on reaching out to consumers world wide.
Have you taken your business services or products international yet? What is stopping you?