Cross-border Commerce is not just a trend, but a necessary part of any retail growth strategy. According to a report from AliResearch, Alibaba Groups research arm, Cross-border eCommerce is expected to reach $1 trillion in 2020. Retailers need to widen their range of investments to capture a larger customer base. With Opportunities, they are certain challenges faced by retail players to grow online.
We partnered with Tech In Asia and Economic Times Retail to discuss the opportunities and the challenges for retail players in expanding their business across the globe in this webinar.
The webinar on ‘Growing Cross Border Sales and Fulfillment’ featured Atul Bhakta (Managing Director, One World Express) Mike Ghasemi (Research Director, IDC Retail Insights, Asia Pacific), and Venkat Nott(Founder, CEO, Vinculum Group).
To reach the global customers, the companies (Online & Offline Retailers, CPGs, Sellers, and 3PLs) are undertaking several activities. Some of these activities include collaborating with partners (marketplaces, retailers, 3PLs, etc.), selling on multiple channels (their web-stores, mobile apps, retail stores, call center, etc.) and cross-border fulfillment. However, each activity has its unique set of challenges and benefits.
A successful cross-border commerce growth strategy includes not just geographical locations, the ability to list-sell on global marketplaces, and consumers and e-tailers requirements, but also taking into account logistics needs like thorough and real-time tracking of inventories or deliveries, providing multiple shipping options, and basket values, says Atul Bhakta, group CEO and managing director of One World Express.
Key takeaways of the webinar:
In case you missed the webinar, download the presentation and watch the recording of the webinar Here