The pandemic has laid the groundwork for the success of your eCommerce business. If you are already online, why not think of building a global eCommerce business? So what does it take for your brand to thrive in a global market? Where should you start? In this article, we’ll run you through some basics that can help you become a global DTC brand.
The market for global eCommerce business
Global eCommerce businesses have undoubtedly been having a great year. According to a report by Adobe, the growth in global eCommerce sales is expected to cross well over $4.2 trillion. In India alone, DTC brands have seen immense success in 2021, and the market is expected to reach $100 billion by 2025.
Another Livemint report showed that exports from India have already reached $35.4 billion in July and there are projections of ending the financial year on strong footing. Additionally, the improved focus on strengthening India’s digital infrastructure has increased the potential for DTC brands to start their global journey.
Benefits of going global for DTC brands
DTC Brands have a superpower that gives them an edge over traditional retailers. Because of the nature of the economic relationship between the business owner and the consumer, they do not require middlemen. They establish contact directly with the end consumer.
Advantages of building a DTC/independent brand:
- Literally no middlemen
- Full control over your customer’s journey
- Save on overhead costs
- Ability to personalise customer service
- An in-depth view of your target market
The direct connection with their consumers helps brands save on overhead costs. It also helps them access customer needs and preferences that result in more efficient and personalised customer service.
DTC brands get an in-depth preview into the market they are targeting, allowing them to scale their business by personalising their products or services according to local or even hyperlocal needs.
In India, the increasing consumer consciousness and the presence of online platforms to facilitate eCommerce across borders provide a range of beneficial opportunities.
There is a growing demand for Indian products globally that several DTC brands can take note of. The best part?
Having a successful global eCommerce business only needs some basic things. Let’s dive in:
1. Start by building a simple website
For a successful global eCommerce business, you need people sitting halfway across the world to know about you and your products. The fastest way for that would be to become visible to them through your website.
A good website will offer all the details that a potential consumer might need. You will need to show the products and services that are for sale and have basic information like payment requirements, process for refunds and the delivery schedule.
Some crucial points while building a website would be to ensure:
- Ease of navigation
- Visually consistent and true to your brand language
- It has all the information that a customer needs to establish trust
- A ‘Reviews’ and an ‘About’ section
- Links to your social media (to showcase your product/services more)
We understand that knowing how to build a good website might seem daunting. Do we need to know how to code? Where do all the buttons go? What if there is a broken link?
Instamojo allows you to build your own eCommerce website or a landing page in just 2 minutes. It’s the best place for you to get started and experiment with your global eCommerce business.
2. Integrated logistics and payments
Consumers currently value efficiency THE MOST. A global eCommerce business needs to first ensure hassle-free, friction-free, and fast services. Integrating your payments and logistics can also help establish trust for both the buyer and the seller. You could take help from third-party software that enables automatic processing of the order that has been placed, information verification, and setting things in motion for the actual shipping and delivery.
Note: You should be well versed in the customs of the target country to minimise hidden charges.
3. Low-cost logistics and delivery
Apart from fast delivery, it should also be accurate. The metrics for success will not just be an expansion in serviceable geographical pin codes but also guarantee fast, safe and effective deliveries. You could do it yourself, or as you grow, you could partner with a logistics company that would help you sustain your profit margins. Having reliable shipping logistics partners is key in being able to scale your global eCommerce business.
Optimising logistics cost would include tracking orders, reducing the number of RTOs (returns to origin), inventory management and a price standardisation for deliveries.
Individual costs for manpower, transportation, warehousing can cause quite a dent in your operational budgets. It is essential to streamline costs by constantly striving for higher efficiency in your supply chain.
4. Utilising policies that support products made in India
The Government of India has multiple schemes and financial aids in place to assist small DTC brands that want to grow. Export relate schemes like – Duty Drawback, GST Tax Rebates, Duty Exemption Entitlement Certificate, Duty-free Replenishment Certificate, the Marketing Development Assistance Scheme, Rebate of State Levies, etc. can further help you scale internationally.
The government, through its initiatives like the Export Promotion Councils, helps increase the presence of Indian sellers and brands in the global market for sectors like textiles, handicrafts, jewellery, etc.
Getting started with your global eCommerce business
It can sound scary when we talk about global customs, policies, legalities etc. But these are all processes that a company undertakes gradually as its budget and capacity increase. To help you begin, just download and follow this checklist that has the steps needed to help you take your business international.
Instamojo can help you create an online store in under 2 minutes. It comes integrated with leading shipping partners and also comes integrated with payments. International payments are available on Instamojo on a case-to-case basis.
Overall, Instamojo is the simplest and best solution for all your eCommerce needs.
Take the first step to building your global eCommerce business today.