Trading across national borders can be a win-win for retailers and shoppers, according to Wool Overs chief executive Neil Sansom.
There are still plenty of opportunity for UK and European retailers in cross-border commerce, Global-e managing director David Kiashek and Sansom told the audience at a Drapers Fashion Forum Power Talk in London yesterday.
Global-e provides end-to-end ecommerce solutions for retailers. Kiashek said existing markets such as China and the US are performing strongly but also pointed to emerging markets in Australia and Israel: “A high percentage of people in these markets chose to buy across borders because buying locally can be three or four times more expensive, which is good for UK and European retailers.”
However, he warned consumers can be put off by long delivery times, unexpected shipping costs and fears they would not receive their goods.
Sansom added that using one platform for knitwear brand Wool Overs’ cross-border operations – rather than running eight separate international websites as it had previously been doing – helped the business to identify its most profitable markets. However, he stressed the importance of providing localised messages for international customers and transparency on duty costs.