For Akhil Choudhary, CITP®, international trade isn’t just about products moving around the world—it’s about ideas, innovation, and collaborative solutions that can improve lives across borders.

It was this passion for problem-solving that inspired him to dive into importing and exporting between nations in full force.

“The idea of globalization and global supply chains—not only for products but also for technological collaboration to solve growing issues—was a key motivation for me to be in the international trade ecosystem.”

His experiences in the field taught him how the right trade connections create economic opportunity, especially in regions with tremendous potential. For Akhil, that opportunity was India. “I take immense pride in building the Indian market for global players,” he says, adding, “it’s a market of truly boundless potential.”

Discovering international trade in action

Akhil began his journey in international trade through the Embassy of Israel in New Delhi. There, he worked as a Trade Officer with the Economy and Trade Mission, facilitating business, cross-border research, and investment between the two countries. After, he joined the Canadian High Commission, working in the agriculture sector for the Indian market, an experience that has defined many crowning moments in his career.

Growing the e-commerce sector with Amazon

One initiative that Akhil is particularly proud of was an e-commerce collaboration with Amazon. He led a flagship initiative to open India’s e-commerce sector to Canadian exporters. Using the Amazon India platform, they launched a Canada e-commerce store that fast-tracked multiple Canadian brands to the Indian market through a scalable plug-and-play model. This allowed exporters to reach millions of Indian consumers quickly and with minimal risk.

“We overcame regulatory complexities, low brand awareness, and exporter onboarding challenges by working with trade advisors, crafting targeted digital campaigns, and providing hands-on training, ensuring Canadian products gain strong traction in one of the world’s fastest-growing consumer markets.”

This was a win-win scenario for both Canadian SMEs and Indian consumers looking for Canadian goods.

This achievement has also given him a deep understanding of consumer demands in India. Specifically, he’s seen niche sectors like pet food and goods grow phenomenally.

“With our continued efforts and engagements, Canada today enjoys a great reputation in this category and has become ‘the origin’ for Indian importers seeking new products in pet food and pet accessories,” he states.

Learning the value of time in bilateral economies

Timing things properly is crucial to a large part of Akhil’s work in today’s global ecosystem.

“In my professional journey, I have learnt that time is of the essence to convert global opportunities into economic outcomes. The right strategy, the right connections, backed with the right knowledge, will define the outcome of any business proposition.”

Time also plays a part in helping him understand what works and what doesn’t in international business. “In the beginning, I encountered challenges. It takes time to understand the strengths and limitations you have working with bilateral economies.”

Strengthening and validating his expertise with FITTskills

Coming from an environmental background, Ahkil wanted to bolster his work experience with accredited global trade knowledge and certification. That’s when he turned to FITT’s international trade training program:

“It was an amazing opportunity to deep dive into some of the subjects that you hear frequently but do not have a good understanding of. It prepares you well on the subjects that are essential for delivering services to the Canadian companies that you represent in international trade.”

His favourite course in the program was International Market Entry Strategies. He notes that he deals with market entry on an ongoing basis.

“The program provided a fresh perspective on understanding client needs—clarifying not only what the client is truly seeking but also how I can deliver insights and solutions that empower them to make informed, strategic decisions.”

“The frameworks and practical approaches from the International Market Entry Strategies course have strengthened my ability to design market-entry recommendations that are both actionable and aligned with each client’s objectives.”

Attaining recognition through the CITP

Always one to take the reins on his career path, Akhil applied for his CITP designation after completing the FITTskills program.

“I have a very different educational background (Environmental Science), so I was looking for recognition. The CITP designation provides that recognition and empowers me with knowledge to do better.”

He also appreciates how the designation pushes him to maintain high standards, stating, “it will keep me aligned with the high standards of excellence and quality that I have to follow and maintain while working with my clients in international trade.”

The feeling of validation

Reaping the benefits of his hard work, Akhil says earning his CITP is “a great feeling.” He adds, “It has given a validation to my years of professional experience in bilateral trade and policy at different foreign Government offices in India.”

Already accomplished in the field of global trade, we have no doubt that Akhil will continue to foster impactful initiatives between India and other countries for many years to come.

Experts like him, equipped with FITTskills training and the CITP designation, are helping shape a more connected, resilient, and opportunity-driven world through partnership and cooperation.

The post CITP Spotlight: Akhil Choudhary, Trade Commissioner at High Commission of Canada, India appeared first on Trade Ready.

As more craft brewers come online in Canada, and Canadians continue to reduce their beer consumption, many local beer markets are becoming increasingly saturated. Interprovincial and US markets likewise have very competitive environments for high-quality craft beer.

For Canadian brewers to continue to grow, they will need to look to other markets. And there is one, bigger than any other, that is largely untapped by Canadian brewers: Chinese e-commerce.  

China beer market growing fast

Valued at nearly $18 trillion, the Chinese market is the second largest in the world. With 842 million Chinese people shopping online, China also has the largest e-commerce market globally, generating over 52% of the world’s transactions, more than North America’s and Europe’s combined. And this growth shows no signs of slowing down any time soon.  

“China’s e-commerce sales are expected to be 52% of the country’s more than $6 trillion in retail sales, making it the first country in the world ever to have more online sales than traditional retail sales”, says Calvin Xiao, founder of Catalystx, a Canadian international marketing management firm specializing in Canadian to Chinese e-commerce trade.  

So far in 2022, Chinese people have spent over $120 billion US on beer consumption and represent 12% of the world’s beer market.

China is also one of the few places in the world where the beer market is growing fairly rapidly at 5% annually, and the most likely place the Chinese consumer will make that purchase is online.  

“Chinese consumers are very tech-savvy, and 55% of Chinese alcohol consumers are ordering online,” says Xiao.  

Canadian craft beer a good match for evolving market

With the development of the Chinese economy and improving living standards, Chinese consumers’ purchasing habits are dramatically changing as younger generations search for products with a unique taste, high quality, and freshness. Canadian craft beer fits this profile perfectly.  

This younger generation is quickly becoming a primary purchasing group and represents more than 65% of beer purchases in China. And these young people are willing to pay for quality, uniqueness, and freshness – things Canadian craft beer has in droves.  

“A recent poll showed that more than 74% of Chinese consumers are willing to pay for craft beer at a higher price,” says Xiao.

More than 57% say they are willing to pay 25% more than the regular price and nearly 17% are willing to pay 50% more. That’s a phenomenal opportunity for Canadian craft brewers.

Canadian craft beer market is saturated, and beer exports to the US are decreasing

But no Canadian brewers are handing people in China a beer. Most recent Canadian beer exports went to the US market. But US demand in Canadian beer is decreasing and between 2015 and 2021, Canadian beer exports dropped 14.2%. 

The Canadian domestic beer market is also becoming more saturated. More than 85% of Canadian beers were sold and consumed locally. In the last five years, the number of local brewers increased by 115%. The business density (brewing facilities per 100,000) soared by 100%. But domestic beer consumption is decreasing. Beer sales fell 6.6%, and per capita consumption dropped 12.6% from 2015 to 2021.

So, the Chinese market is a growth opportunity for Canadian brewers, representing a significant source of market expansion and sustainability for the industry. 

Early adopters will gain a significant share of the Chinese market 

So, now is the time to consider exporting to China’s e-commerce market. Canada is known for some of the best barley in the world and has a growing reputation for great beer.

With Chinese beer drinkers turning away from cheap local brews toward premium products and imported beers, Canadian brewers can leverage this reputation and market their products for significant margin gains. Plus, cross-border e-commerce channels now provide Canadian brewers unprecedented access to markets across China. Brewers who gain entry early will take substantial portions of the market and make gains that late adopters will not. 

Time for Canadian craft brewers to become “export ready”

Unfortunately, most Canadian beer manufacturers – having focused largely on local markets – are a long way away from being export-ready.  

“Canadian beer exports aren’t well-developed and remain exclusively US-dependent,” says Xiao. In 2021, Canada had 1,876 beverage and tobacco product manufacturing, less than 15% of those manufacturers were export-ready establishments.

But, with the right support, Canadian brewers can dip their toes into international trade through Chinese e-commerce relatively easily.  

As the craft brewing industry in Canada has grown, so has the global recognition of Canadian beer. Canada has a reputation for some of the best barley in the world, clean air and fresh water, a friendly business environment and political stability. Plus, China is Canada’s second-largest export partner and the process for e-commerce trade in China has become highly effective and accessible.  

“The time for Canadian brewers to become export-ready and enter the Chinese e-commerce market is now,” says Xiao. Cross-border e-commerce transactions in China reached $261 billion in 2020. So, the process has become effective and efficient for international trade.

Canadian breweries that enter the Chinese e-commerce market today benefit from streamlined Chinese customs procedures, improvements in delivery methods, policies that allow direct-to-consumer cross-border transactions and exemptions of certain goods from registration, Chinese labelling, and testing requirements.  In short, cross-border e-commerce channels now provide unprecedented access to markets across China. 

Last year, the value of Canada’s beer exports was CA$129 million dollars, which counted for less than 9.8% of the beverage and tobacco manufacturing exports. Canadian craft brewers could grow these exports significantly. 

On one side, with the development of the Chinese economy and better living standards, Chinese beer drinkers are turning away from cheap local brews and seeking out foreign craft beers.

These beer drinkers are also willing to pay top dollar for quality, uniqueness, and freshness.

On the other side, the Canadian beer market is becoming increasingly saturated at home, and US exports are decreasing, so Canadian brewers should consider diversifying markets for profitable and sustainable growth.  

As the craft brewing industry in Canada has grown, so has the global recognition of Canadian craft beer. There has never been a better time for Canadian craft brewers to export their beer. A Chinese e-commerce market is a solid option for Canadian brewers. Not only is its e-commerce becoming the future  of mainstream commerce, but it is also the most effective, efficient, and economic foreign market-entry strategy for an SME.

To put it another way, Canadian brewers can sell products from abroad without establishing a presence in Greater China and the six Southeast Asian countries (the SEA region). That’s an innovative and accessible way to enter a new market. And these are not small markets! China’s E-Commerce alone is incredibly lucrative. 

The post Canadian Brewers are Missing Out on the World’s Most Lucrative Market   appeared first on Trade Ready.

Technology, especially the Internet, has transformed how business is conducted in both domestic and international markets. In 2011, the number of digital buyers worldwide reached 792.6 million. A year later, the number had risen to 903.6 million—a 14% increase. As of 2015, online purchases accounted for about 8% of total retail sales around the world and that amount increases every year.

Global business to business (B2B) e-commerce sales are forecasted to reach USD 6.7 trillion by 2020, more than twice the value of business to consumer (B2C) e-commerce (USD 3.2 trillion).

While online growth is to be expected, it is projected that 27% of all global B2B sales will have an online component within the next five years.

China is expected to lead the growth with the largest online market in the world and generate approximately USD 2.1 trillion in online sales.

Statistics from 2016 indicate that 40% of worldwide Internet users have purchased products online via desktop, mobile, tablet or other online devices, which amounts to more than 1 billion online buyers. With the projected digital buyer penetration expected to reach close to 50% of Internet users worldwide in 2018, the e-commerce industry will continue to evolve and expand.

What Is E-Commerce?

Electronic commerce or e-commerce is the buying and selling of goods or services on the Internet or through other electronic means. The goods and services can be physical or intangible, the latter permitting digital delivery as well as sales.

E-commerce is a type of market entry strategy and can be completed directly by selling through an organization’s own website or indirectly by listing products or services on another organization’s website. E-commerce may be the sole mode of market entry, but most often it is used in combination with other market entry strategies.

E-commerce encompasses all elements of commerce including providing
product and service information, processing orders, accepting payment, fulfilling orders, providing storage and delivery, and customer support. An e-commerce transaction can be business to consumer (B2C), business to business (B2B),business to government, and consumer to consumer. This module focuses on B2C and B2B e-commerce. E-commerce includes purchases and sales conducted over computer networks using multiple formats including the web and electronic data interchange, and multiple devices such as personal computers, laptops, tablets and smartphones.
It draws on other technologies such as digital marketing, email, electronic funds transfer, supply chain management, online transaction processing, inventory management systems and automated data collection systems.

Want to learn more about how to Increase your reach, decrease costs and enhance the customer experience by developing an easy-to-use e-commerce operation? Check out the FITTskills International Sales & Marketing online course.

When first learning about e-commerce, people may be confused by the
plethora of unfamiliar terms and phrases such as “e-commerce platform”,
“convergent commerce”, “e-commerce control panel”, “full service shopping cart”, “e-tailing”, “m-commerce” and “creative digital strategy enthusiast”.

The language is a reflection of the ever evolving state of e-commerce technology and applications. New terms used in this module are defined in the glossary.

The benefits of E-Commerce for your business

E-Commerce has provided new opportunities to organizations around the
world. These opportunities take the form of global market access to customers, business partners and suppliers. Additional benefits associated with e-commerce include:

• Low risk, low cost market testing
• Ability to track customer preferences and purchasing actions
• Targeted online advertising and other marketing
• Reduced communication and transaction costs
• Increased productivity and efficiency
• Lower cost exit strategy, especially in e-commerce only scenarios
• Decreased costs associated with establishing international trading relationships
• More efficient information sharing and transactions with business partners
• Enhanced participation in international value chains

The E-Commerce Environment

E-commerce occurs in a complex environment of human and machine abilities and interactions. The nature of the environment is constantly evolving as demonstrated in this section.

B2B and Global E-Commerce Sales Global B2B e-commerce sales are forecasted to reach USD 6.7 trillion by 2020, more than twice the value of B2C e-commerce (USD 3.2 trillion).6 Organizations are wise to consider migrating to online platforms for these reasons:

• The expectation among a growing number of companies to conduct
buying and selling online
• A shift from some companies to conduct procurement transactions
through the Internet instead of through Electronic Data Interchange (EDI)
• Growing interest of companies in placing orders through mobile
commerce devices
• The increasing popularity of e-market places such as Alibaba.com and
AmazonSupply.com

A B2B e-commerce implementation is more complex than B2C. In a B2B setting, prices are typically highly variable. Volumes are much higher than B2C and consist of a wider range of products that require flexible shipping and logistics solutions.

Taxes and regulatory matters are also more complex, as is marketing because clients have a greater need for information about how products and services work and they will interact with systems clients already have in place.

In addition, a B2B e-commerce platform is more difficult and costly to design, implement and maintain.

Your current and potential customers are online

According to the International Telecommunication Union (ITU), the United
Nations agency for information and communications technology, there were 3.5 billion Internet users in the world in 2016. That number reflects a seven fold increase that brought Internet penetration up to 47% of the global population. The fact that only one percent of the population was connected to the Internet in 1995 highlights the rapid changes in information and communication technology (ICT) in the last 20 years.10 Figure 1.1 shows the percentage of individuals using the Internet by region and development status.

Note that Europe is the most connected region in the world, followed by the Americas. Of course, these are generalizations and within the Americas and other regions there is great diversity in connectivity. It is important to consider the actual number of users as well. Even though the percentage of people who are Internet users in developing countries is only 40 percent, this translates into 2.5 billion users compared to a total of 1 billion Internet users in developed countries.

Figure 1.1 – Percentage of Individuals Using the Internet

The value of digital commerce

The total value of global digital commerce in 2016 was estimated at approximately USD 2.1 trillion. As illustrated in Figure 1.2, the United States forecasted total transaction value for 2016 was just over USD 605.3 billion, the highest amount among all countries. China followed with the second highest forecasted value of digital transactions, before the United Kingdom, Japan and Germany.

5G Networks

The demand for more stable and faster wireless Internet access continues with increased use of bandwidth for personal computers, smartphones, watches, home appliances, security cameras, wearable technology and the many other devices that connect to the Internet. Gartner, Inc. forecasted 6.4 billion connected devices in the world in 2016, reaching 20 million by 2020. To meet this ever-growing demand, a new form of wireless signal is needed. 5G is being developed to replace 4G technology and is targeted for unveiling at the 2020 Olympics in Tokyo. Test locations are currently operating in the United States.

Wireless telephone technology started with first generation (or 1G). When it
expanded to 2G in the early 1990s, people could send text messages between
two mobile devices for the first time. With 3G came the ability to make telephone calls, send text messages and browse the Internet. These capabilities were enhanced with 4G, especially when companies added Long-Term Evolution (LTE), a standard for high speed wireless communication, to 4G connectivity. The 5G technology builds upon the  foundation created by 4G LTE. The difference between 4G and 5G has been compared to going from a garden hose to a fire hose. 5G will allow easier downloads and uploads of Ultra HD and 3D video and thousands more Internet-connected devices.

Online shoppers are on mobile

The use of mobile devices for e-commerce is growing rapidly. Since 2014, the number of global mobile users has been greater than the number of desktop users (see Figure 1.2). It is no longer a question of whether the mobile market is important to e-commerce but rather a question of how consumers behave when using different types of mobile devices and what their preferences are.

Figure 1.2 – Global Mobile Users Surpass Desktop Users

For B2B transactions, research shows that 43% of small business owners primarily use mobile devices to run their operations.16 Mobile, or m-commerce, is increasingly important to developing economies where cellular networks have enabled access to services not previously available. For example, the estimated number of Internet users in Kenya is 26.1 million, making it the 21st most connected population in the world. Of those, 99.9% access Internet through mobile telephones. While feature telephones still dominate, smartphones are catching up fast.

The post A primer on e-commerce and why your business should be there appeared first on Trade Ready.

Choosing the right e-commerce platform or infrastructure is an important decision for businesses. They must decide whether they will:

• Subscribe to a website or service such as eBay that allows users to conduct transactions through its infrastructure.
• Build and host their own e-commerce platform system.
• Outsource the development and then manage the system going forward.
• Use a hosted, software-as-a-service (SaaS) platform that is more turnkey and externally managed.

There are pros and cons to each approach. Organizations that build and host their own system need more cash up front and must have skilled administrators and developers on staff. If using a SaaS platform, an organization will not need to host or manage the system in-house, but it will need web developers. One of the key areas where e-commerce operations are likely to need outside expertise is ICT. The research firm, Gartner Inc. predicts that by 2018 more than 50 percent of e-commerce sites will integrate technologies from more than 15 vendors to deliver a digital customer experience.

Choosing to outsource development and hosting will reduce staffing costs, but generates higher costs for changes to the website. It is also important to consider how flexible the system is because an e-commerce operation must be able to respond quickly to market changes and pressure from competitors.

In addition, organizations must consider back-of-house functions. Will they manage their finance and administration activities in-house, outsource them or use a hybrid approach? If their e-commerce platform is integrated with their accounting system, there will be little need for an internal bookkeeper. However, should they choose to use separate systems for their e-commerce website, order management and accounting, they will need staff to enter and manage data.

Dale Traxler of Practical Ecommerce recommends four steps for choosing vendors when setting up an e-commerce system.

Want to learn more about how to Increase your reach, decrease costs and enhance the customer experience by developing an easy-to-use e-commerce operation? Check out the FITTskills International Sales & Marketing online course.

1. Conduct initial research

Carry out preliminary research to find vendors that appear to meet most of the organization’s requirements. For example, an organization must determine whether the storefront will have simple categories, or whether it will require sub-categories and additional functionality? Learn about their pricing, features and integration capabilities. Seek a platform that integrates different applications. Find and contact former customers to learn about the vendor’s reputation for providing quality services and being reliable.

2. Choose preliminary vendors

Send the most qualified vendors a request for proposals or quote. You may also need to introduce other services for integration or implementation. Based on their responses, reduce your short list to no more than two or three vendors.

3. Review the vendors’ proposed e-commerce platform solutions based on the organization’s requirements

There may be a need to change or compromise on some of the requirements based on the available budget. For example, when choosing a vendor to provide a payment gateway, evaluate their proposals based on these and other relevant factors: Costs, including transaction fees, setup fees, monthly fees and additional fees such as those associated with chargebacks and fraudulent transactions

• Protection of private information
• Fraud protection tools, e.g. fraud filters that identify and track suspicious transactions and place them on hold while the bank notifies the business of the suspicious activity
• Level of support provided, e.g. 24/7

4. Negotiate contract

As part of the negotiation process, ask the vendors to do a proof of concept on anything that you are concerned about.

The post Follow these criteria to choose the best e-commerce platform for your business appeared first on Trade Ready.

Retail e-commerce continues to reach new levels of growth and is expected to surpass the global revenue mark of $4 trillion USD by 2021.

As a small business owner, you may wonder how to start small and scale from there. You need to choose a platform that can meet your business requirements but which features do you really need and how do you get the best value for money?

So, how do you choose the best e-commerce platform for your start-up or small business?

We put this question to the experts in a live #TradeElite Twitter chat and uncovered plenty of valuable insights:

• the importance of having a realistic plan
• be systematic about evaluating different solutions – get help if necessary
• don’t forget about the internal resources you will need to be successful

Highlights of the chat are below, and you can scroll through the #TradeElite hashtag to follow the entire chat.

Moderator: Ewan Roy, Digital Marketing Specialist with FITT (@FITTNews)

Panelists:

Cathy Roberson (@cmroberson06), Founder/Head Analyst of @LogisticsTI, based in Atlanta, GA

Robb Collins (@robby_disco), E-Commerce Director at the Conference Board of Canada, based in Ottawa, ON

Isaiah Bollinger (@IsaiahBollinger), Founder and CEO of Trellis, based in Boston, MA

Patrick L. Perreault (@plperreault), Digital entrepreneur, global e-commerce expert, founder of SquareOne and Perimeter

Is e-commerce a good idea for any business? If not, how can businesses decide whether e-commerce makes sense for them?

Well I think it is a good idea for most businesses in that it can simplify the sales process. For very complex sales like services that require complex quotes it might not be a good idea. The more complex your product or service the more difficult it will be to make it work.

— Isaiah Bollinger (@IsaiahBollinger) September 20, 2018

A1. I think that ecommerce is no longer ecommerce. Its just commerce. Like any business you need to consider all your sales channels. Where are your customers? How do they buy? That will determine if the digital channel is right for you. #TradeElite

— Robb Collins (@robby_disco) September 20, 2018

A1: I think all businesses can benefit from #ecommerce. That being said, not all businesses are ready for it and some of their customers might not be ready either. I think ecommerce must be considered like you would consider any other sales channels. #TradeElite

— Patrick L. Perreault (@plperreault) September 20, 2018

A.1 I think e-commerce is good for just about any business these days – B2C and B2B. Trends are showing more and more transactions being done via online. #TradeElite

— Cathy Roberson (@cmroberson06) September 20, 2018

Once a business decides to start selling online, what’s the best next step for them to take?

1) Build a realistic financial plan to execute
2) Build out requirements for eCommerce over 3 year span
2) Determine the right platform that fits budget and requirements
3) Create internal team that may have to use partners to build out technology and marketing for eCommerce

— Isaiah Bollinger (@IsaiahBollinger) September 20, 2018

A2 Budget, existing technology stack, employee skills & customer demand will help you decide what platform is right for you. Should you use a marketplace (Amazon), SaaS (Shopify), a wordpress (WooCommerce), or on prem such as Oracle ATG? It will become clear quickly #TradeElite

— Robb Collins (@robby_disco) September 20, 2018

A2 con’t For instance a small scale manufacturer with a small budget with no tech team will have a different solution from startup selling a tech #TradeElite

— Robb Collins (@robby_disco) September 20, 2018

A2 Who will they be selling to and where will they be selling – Europe, Asia, AFrica? From my side of the business you also need to understand trade requirements. #TradeElite

— Cathy Roberson (@cmroberson06) September 20, 2018

A2 Plus your website needs to reflect the currencies, languages etc. to who you’re selling to. #TradeElite

— Cathy Roberson (@cmroberson06) September 20, 2018

How should businesses decide which e-commerce features or requirements they want to have? What are some of the features that are most popular or trending right now?

Talk to your customers or prospects and find out from them. Email marketing automation to upsell customers is popular, as well as rewards, subscription, and multiple payment options. We are seeing growth in the product customizer area for personalizing products too.

— Isaiah Bollinger (@IsaiahBollinger) September 20, 2018

A3. (1/2) I think it’s good to look at different platforms to get a feel for what is out there. Then, you must look at your how ecommerce will integrate with functions like marketing, logistics, and customer service to get a good understand of the must-have features. #TradeElite

— Patrick L. Perreault (@plperreault) September 20, 2018

A3. (2/2) Some the most requested internationalization features:

-Native support for multiple languages
-Displaying prices in many currencies
-Accepting global payments
-Detecting global fraud
-Dynamic shipping/landed cost calc. #TradeElite

— Patrick L. Perreault (@plperreault) September 20, 2018

A3. Customization is THE biggest trend now & moving forward. Whatever you can do to make your product / service / platform open to being customized is going to win you customers. #TradeElite

— audrey ross (@tresAudrey) September 20, 2018

A3. Develop personas focus on behaviours, goals, preferences and similarities in usage by 1. Conducting stakeholder interviews. 2. Run some online surveys on your site 3. Do some telephone or skype interviews with real customers. 4 Analysis of all of the above data #TradeElite

— Robb Collins (@robby_disco) September 20, 2018

A3 con’t I would also check out @Gartner_inc Magic Quadrant for Digital Commerce 2018 if you want to know what features are hot. You can get it for free from many ecom vendors. They also have a curve of technologies adoption digital marketing and advertising. #TradeElite

— Robb Collins (@robby_disco) September 20, 2018

A3 from a last mile delivery – when and where do you want your package delivered. #TradeElite

— Cathy Roberson (@cmroberson06) September 20, 2018

This is important if you’re shipping a product across town or overseas – the price varies with how personalized and/or fast you want. As a business owner you have to be willing know the options and discuss with with transportation partners. Free shipping ain’t free. #tradeElite

— Cathy Roberson (@cmroberson06) September 20, 2018

In what situations are building a custom e-commerce platform a viable solution for a business? What are the biggest advantages and disadvantages of doing so that you must consider?

#TradeElite You need technical leadership that can guide this. For large businesses with big budgets or technical startups with technical founders that can build a technical team. Its expensive so you have to be able to invest in many developers and have special use cases.

— Isaiah Bollinger (@IsaiahBollinger) September 20, 2018

A4. Unless you have a really unique set of requirements there’s no way I would suggest building a #ecommerce platform from scratch. #TradeElite

— Robb Collins (@robby_disco) September 20, 2018

A4. The real question is do you use a monolithic application (think Adobe marketing cloud) or do you use an API-based approach where you build a front end and use web services to connect a bunch of best-in-class services into a single platform #TradeElite #ecommerce

— Robb Collins (@robby_disco) September 20, 2018

This is an option that is gaining a lot of popularity, lately. Use a solid CMS to deliver personalization and high-end UX, then use a solid ecommerce platform for everything payment, shipping, integration. #TradeElite

— Patrick L. Perreault (@plperreault) September 20, 2018

A4. (1/2) We’ll sometimes consider custom ecommerce builds when the requirements are so specific that we would have to badly “hack” an off-the-shelf solution to meet them. But “custom” might mean a pretty big price tag at least for businesses over a certain size. #TradeElite

— Patrick L. Perreault (@plperreault) September 20, 2018

A4. (2/2)The biggest advantage is flexibility. But going custom will often mean having to custom code features that are normally built-in or available at low cost through 3rd-party plugins: ERP & CRM integration, shopping cart rescue, fulfillment, etc. #TradeElite

— Patrick L. Perreault (@plperreault) September 20, 2018

What factors should businesses prioritize when choosing between all the various e-commerce platform providers? And what are some of the biggest differences between major providers to think about?

#TradeElite Budget / resources and long term requirements. Shopify and BigCommerce can be very cost effective. As you go a bit upstream you may consider platforms like Magento, Hybris, Demandware etc. We also see the beginning shift towards headless eCommerce via API’s.

— Isaiah Bollinger (@IsaiahBollinger) September 20, 2018

A5. Do you need to integrate new features at speed? How digitally disruptive are your competitors? What kind of CX and digital analytics are available? How does the platform integrate with partners? Is the platform ready for “commerce that comes to you”? #TradeElite #ecommerce

— Robb Collins (@robby_disco) September 20, 2018

A5. A few key differences:
-Multi-lang/currency:Shopify requires plugins while other (Magento, DemandWare) support natively.
-One VS Multiple International sites: Same.
-Community supp.: Consider how well a product is supported by the community. Don’t get locked in.#TradeElite

— Patrick L. Perreault (@plperreault) September 20, 2018

A5.From a global ecom perspective: cost of ownership(build, licensing, plugins, hosting)
2.Ease of managing many storefronts for many markets (one VS multiple sites)for mult. languages/currencies
4.Ease of integration #TradeElite

— Patrick L. Perreault (@plperreault) September 20, 2018

A5 I would start with the basics: security, availability, scalability and reliability. Then use the personas you developed for your customers to decide key #CX elements of content and digital #uxdesign elements. How involved will IT be? #TradeElite #ecommerce

— Robb Collins (@robby_disco) September 20, 2018

A5 @idealrebel has done a great synopsis of the various platforms: https://t.co/UKR9FFXjcG #TradeElite #ecommerce

— Robb Collins (@robby_disco) September 20, 2018

What are some of the most common early problems companies make with their e-commerce, and how can they be avoided?

They underestimate the internal effort needed to be successful. Without a stronger internal eCommerce leader they will make bad decisions, choose the wrong platform etc. Ownership needs to get educated or hire very talented people to lead this. #TradeElite

— Isaiah Bollinger (@IsaiahBollinger) September 20, 2018

A6. THE most common problem: They choose a platform after a cool demo from a sales rep. Then they realize it’s not adapted to their needs and they have to invest large sums to correct the situation. Execs get mad and become reluctant to invest in e-com after that. #TradeElite

— Patrick L. Perreault (@plperreault) September 20, 2018

A6 Agile development will help you keep the business and IT in touch and keep your customers happy by making thoughtful, HARD choices up front. #TradeElite

— Robb Collins (@robby_disco) September 20, 2018

I agree, but I find a lot of businesses just have a hard time wrapping their head around a non fixed cost. They often go for the low bids that sound great with fixed costs….it always fails…We always try and push for agile cost structure but its harder to sell.

— Isaiah Bollinger (@IsaiahBollinger) September 20, 2018

A6 Scope creep is the number one issue in any new #ecommerce platform development. Start small – understand your minimum viable product. Prioritise your future features by business and customer impact and build them in order of impact. #TradeElite

— Robb Collins (@robby_disco) September 20, 2018

A6 I would also say that any new enterprise needs to know how it will promote its new #ecommerce site. How will you get customers in the door? Assess your plans for Paid Search, Email, Online Display, Retargeting, Video
, Landing Pages and automation #TradeElite

— Robb Collins (@robby_disco) September 20, 2018

Any other final tips or advice for companies trying to choose a new e-commerce platform?

A7. Plan first, shop second. Take a dispassionate and systematic approach to evaluation each solution based on clear evaluation criteria. Get help from an independent consultant if you do not have the technical expertise needed. #TradeElite

— Patrick L. Perreault (@plperreault) September 20, 2018

Read the rest of the chat and join future discussions by following the #TradeElite hashtag. And stay tuned for the next #TradeElite chat, coming up on October 20 at 2:30-3:30PM ET, and if you haven’t yet, join us on Twitter at @FITTNews.

The post How do I choose an e-commerce solution that fits my small business? appeared first on Trade Ready.

In 2017, an estimated 1.66 billion people worldwide purchased goods online. During the same year, global e-retail sales amounted to 2.3 trillion U.S. dollars, according to Statista.

Whether you have the perfect product in mind or you’re looking for a high-growth business opportunity, e-commerce provides an appealing marketplace.

If you’ve made the decision to get into e-commerce, you’re likely wondering: Now what? Here is your primer for getting started with your e-commerce business.

Step 1: Find your niche

In the vast world of e-commerce, it’s not enough to have a great product or great service. Your business has to have a niche market. Having too broad a business concept or too broad a product base will lead to getting lost in the expanse of the internet.

You might want to open an online candy shop, but just marketing yourself as a candy shop is too broad. Instead, you will want to think about opening an allergy-friendly candy store, or you might sell gourmet candies with unusual flavors and ingredients that can’t be found anywhere else.

As you contemplate your niche, do some market research to determine the competition within that niche. You don’t want to launch a new business in a market that’s already dominated by a leading brand or flooded with competing brands, but a niche with too few, or no companies represented can indicate that it isn’t a viable market.

Step 2: Create your customer persona

Once you know your niche, it’s time to develop a customer persona. Know who your products will appeal to. A well-developed customer persona includes your target customer’s gender, age range, income level, family status and geographic location. You absolutely have to know what problems you are solving for your target customer.

Once you understand your customer, you can start developing a brand that would appeal to that customer persona, pick out the ideal products and services for that customer and develop a marketing plan that will reach your target audience.

Step 3: Choose or refine your products and services

Understanding your niche, your customer and your value proposition will help you to choose the right products and services for your business.

Selecting your products before you understand your market and your target audience is premature. It’s best to launch an online business with a small, carefully selected group of products. As you see which products sell well with your customers, you can expand your offerings in line with what your customers are looking to buy.

Step 4: Select a business model

There are a host of online business models. If you already have a physical business that you’re expanding online, you might just be selling portions of your existing inventory online. The business model you choose will depend on your products and your market, and your preferences as a business owner.

4 common models for online business

1. buy and hold inventory to resell
2. run a drop-shipping business if you don’t want to physical handle inventory
3. hire another company to manufacture and ship your unique line or products
4. create an affiliate marketing site that offers appealing content around products sold by other retailers to draw traffic to their sites for a finder’s fee

Step 5: Find the right software or selling platform

The most intimidating part of launching an e-commerce business, for many, is the technology involved. Fortunately, there are a host of software, platforms and services designed to make setting up and operating an e-commerce site easier.

Cloud-based platforms with their own check-out services require nothing more than for you to choose a template and post pictures and descriptions of your products. There are firms who will operate the technical aspects of your e-commerce business for you.

The exact software, platform or service you choose for your e-commerce business will depend on your business’s individual needs, but your chosen service should ensure that your business is secure, that it’s easy for you and your customers to use, that it’s marketable and that it allows you to scale your business upward.

Step 6: Start marketing your e-commerce business

No e-commerce business can succeed without a strong marketing plan. Once you have all of the elements of your business in place, it’s time to start spreading the word about your business and building your brand. Because you’re marketing an online business, most of your marketing efforts should be online.

Fortunately, there are a host of online marketing options, so it’s easy to develop a marketing plan that fits your business’s budget. There are many online marketing strategies you can employ, but the important thing is to have a clear marketing plan and to tailor your marketing to your customer persona.

By focusing on these elements of starting a new e-commerce business, you will avoid many of the pitfalls and common mistakes that lead new e-commerce business to failure.

By finding your niche and thinking about your customers, you will develop a clear brand that speaks to your target audience.

As you perform market research in your niche and select your products and services, you will be better informed to price your products to avoid shortchanging your business.

By homing in on a business model and selecting your platform, you will gain a better understanding of your business’s operations and be better equipped to know where you need to seek supports from experts in the e-commerce field.

Through your marketing plan, you will reach out to customers and potential customers to grow your business.

There are a lot of considerations in starting your own e-commerce business. But with the right steps, and a strong business plan, you can be part of the lucrative e-commerce market.

The post 6 steps to starting your online business appeared first on Trade Ready.

When asked what they want to be when they grow up, the average five year old will give you a typical answer like a firefighter, doctor or athlete. Irene Jeremic was no typical five year old – she was already busy planting the seeds that would become her successful business career.

“I was less than six years old when I asked my parents to purchase my first sewing machine for me. I was about 11 when I realized that what seemed to be a little girl’s hobby could be turned into a profitable fashion merchandizing business. As it turned out, fate had it that fashion merchandizing did not become my career, although I have worked with some of the greatest retailers who trade fashion merchandise,” said Jeremic, who today runs a successful market research and consulting business at TheTableau Inc., and teaches law and international business at Vancouver Career College.

On strong academic background, earned at reputable Canadian universities, Jeremic has built a robust career in international business. She spent two years as the VP of Business and Customer Relations for eLearning Solutions Inc., a spin-off company of Simon Fraser University, offering online courses and related customized tools and services. While there, she worked on the eTechnologies project, which was sponsored by Industry Canada and involved over 200 different institutions.

Breaking new ground with an award-winning business revamp

In 2005, Jeremic was hired as a C-level executive by Stork Craft Manufacturing Inc., a baby furniture company, to lead and complete a “Stork Craft makeover.” The company had enjoyed domestic success, but found they wanted to expand their operations and take their company to a new level.

Though the initiative to complete a makeover was ambitious and grand in scope, Jeremic was confident in her abilities to execute it. She offers the following advice to those in a similar position in their careers:

“Clearly, talent must be combined with hard-work, but the only two barriers that we all place before us are fear and complacency. One of these barriers can be enough to block our progress and achievements. When combined, they can be paralyzing.”

Over the next four years, Jeremic spearheaded the revamp of Stork Craft Manufacturing Inc. in exciting directions. She totally transformed the company’s IT, inside sales and e-commerce capabilities. In 2005, Jeremic’s new business architecture project for Stork Craft Manufacturing Inc. won Dell’s ‘Top 10’ award.

Using this new business architecture, along with a new drop-shipping model that Jeremic also developed with her teams, the company shortened their delivery time from 3-4 weeks to 2-3 days. Within a few short years, e-commerce had jumped from about 5% of the company’s total sales to about 50%.

One of the biggest reasons for such exponential increase was the effort to integrate the company’s order processing systems with major retailers like Wal-Mart and Toys R Us, enabling a much higher volume of orders that could be automatically processed. In addition to her turnaround initiatives, that resulted in about 20 new business and technology solutions instituted for Stork Craft, Jeremic also created a novel web-solution for Wal-Mart Canada.

“I was able to innovate by architecting the first eCommerce engine for Wal-Mart Canada, which gave customers an option to purchase Stork Craft products on Wal-Mart Canada’s website and have them shipped directly to customer’s home. In 2008, this was a standard for Wal-Mart in the U.S., but Wal-Mart Canada website was still catalogue-based, with no real eCommerce engine.”

“The innovation was, that my team, working for a furniture manufacturer and distributor, developed the first eCommerce engine for Wal-Mart Canada, to be used by Wal-Mart Canada customers visiting their website, where that engine was actually owned by Stork Craft.”

This innovation was awarded with the CIO 100 Honoree award, as one of the most successful business technology solutions in North America in 2009.

For her efforts, in 2009, Jeremic was named Stork Craft’s honoree. Jeremic admits that among many challenges she had to overcome, some that she will remember included contract negotiations and satisfying the project’s legal requirements.

Going back to school – on both sides of the classroom

After facing the challenge of managing the contract and legal requirements of her project for Wal-Mart Canada and Stork Craft, Jeremic realized that going back to school and earning a law degree would help her improve her expertise in the area of business law. She went on to earn her Master’s degree in law at the esteemed Osgoode Law School in Toronto.

Wanting to see more young people in eCommerce and entrepreneur roles in Canada, Jeremic went on to look for opportunities to pass her knowledge to younger generations. She soon began teaching law and international business at Vancouver Career College—an experience that she continues to find incredibly rewarding.

“There is nothing more gratifying than to be able to touch the lives of young professionals who are building their careers and are eager to learn. Some of my favorite lessons marry business and law, including those about corporate social responsibility, ethical business practices, and lawful professional conduct.”

Jeremic’s work on transferring her knowledge to her students is well recognized within her organization. Notably, she taught one of the 2016 FITT Education Award winners, Russell Leith Yearwood, who just won the International Marketing Plan Award for his work.

Combining business expertise and a desire to give back to her community

In 2010, Jeremic started The Tableau Inc., and continues to serve as the company’s President and CEO. Focusing on international market research, data analytics, digital technology, and business turnarounds, Jeremic and her company help other businesses gather and understand data. This helps businesses with the end goal of customizing their business strategies and building competitive advantages. She also offers customized consulting to improve organizational efficiency and overall business strategies.

Over the course of her work, Jeremic came to know FITT and gained a deep appreciation for the organization and its members.

“I’ve collaborated with FITT for years now. It is clearly a hub for ethical international business, that gathers some of the greatest business minds. When you take the time to get to know people who run the FITT organization, you realize that you are linked with a great bunch of capable professionals, with terrific attitudes, who deliver on their promise!”

Given her valuable years of experience and expertise, Jeremic became a CITP®|FIBP® (Certified International Trade Professional) through the Executive Path option. She feels honoured to have the elite designation and be part of the larger FITT community.

“My career is dedicated to serving international business communities and mentoring young professionals.”

Just recently I realized that my CITP®|FIBP® designation serves as a great motivational tool for the young professionals I work with, to pursue their professional aspirations with FITT. They want nothing short of excellence, and they now know how to get it!

On top of all of this, Jeremic also made time to be involved in several local organizations and programs in the Vancouver area. She established the first co-op program between her alma mater, Simon Fraser University, and Stork Craft Manufacturing Inc., and also served as a mentor for the school’s Young Women in Business (YWiB) program.

She has previously served on the Association of Neighbourhood Houses (ANH) Board of Governors and Kitsilano Neighbourhood House (KNH) Board of Management. Furthermore, she established the Anti-Bully Bureau (ABB) to advocate against workplace harassment and all forms of bullying, and has been twice recognized as the International Women’s Leadership Association’s Woman of Outstanding Leadership.

A brilliant example to her clients and students alike, Jeremic’s expertise shines through everything she does and will no doubt continue to positively influence those around her.

The post Irene Jeremic, CITP|FIBP – President and CEO, College Professor appeared first on Trade Ready.

The challenges of e-commerce are becoming easier to overcome due to the increasing familiarity with it in many markets as well as advancements in the online shopping ecosystem. Be that as it may, there are still issues requiring research and thought when setting up an e-commerce operation.

Some of the challenges posed by e-commerce have been outlined in the updated 7th edition of the FITTskills International Sales and Marketing course.

1. Distrust in the security and privacy of online transactions

Companies that establish e-commerce operations face several security risks, including:

• Denial of service: These attacks stop authorized users from accessing a website, resulting in reduced functioning of the website or its complete
• Unauthorized access to sensitive information: Hackers can obtain intellectual property and alter it, destroy it, or steal it to sell to a competitor.
• Malicious alterations to websites: Hackers have been known to alter website content to negatively impact a company’s reputation or to direct customers to competing websites when they click on a link.
• Theft of customer information: Many cases have arisen where customer credit card details, addresses, and other personal information have been stolen for criminal
• Damage to computer networks: Viruses and worm attacks can seriously affect a company’s
• Creation of counterfeit sites: Fake websites can now be created easily and at little cost to the fraudsters. These sites look identical to the authentic versions and can cause serious damage to company valuations and reputations.

To deal with these risks, companies must establish various levels of e-commerce security.

Authentication systems, such as usernames and passwords, are a basic level of control to help ensure only authorized employees have access to the website or customer information. Firewalls prevent external users from gaining access to information held on company computers, while intrusion detection software can provide an early warning for hacking attacks.

2. Viruses, malware and online attacks

As well as the financial losses, companies can also suffer a loss of reputation or market share. Companies could also open themselves up to face criminal charges.  Companies must follow government guidelines as to the level of e-commerce security and privacy they must implement.

If an attack occurs, and these guidelines have not been adhered to, a company can be prosecuted.

Viruses, Trojan horses, and worms are malicious software programs designed to damage computers in some manner. Viruses and worms infect a computer, replicate, and spread. Trojan horses are malicious programs hidden in what appears to be reputable or helpful software downloaded onto a computer. Attacks by these types of malicious programs can have serious consequences, including:

• Deletion of company data, or inability to access data
• Recording of keystrokes made by an authorized user, enabling theft of passwords and usernames
• Hijacking of the computer system
• Forwarding viruses to customer and partner computers

Companies must ensure all computers have firewall and virus protection. Employees should also be advised to not download unauthorized programs or documents from the Internet. It is also advisable to avoid opening email attachments unless the employee is expecting the named attachment to be sent to them. Companies should also make backups of essential data and store them on external drives, in cloud storage, or with reputable data storage companies.

3. Payment options and reliability

While some customers still have concerns about security and the privacy of information over the Internet, the advancement of new privacy and financial e-commerce security technologies have calmed many such fears. In addition, the expansion of connectivity bandwidth and the availability of high-seed downloads is continuing to revolutionize the sales and distribution of digital products and services.

To gain the confidence of customers, companies offer alternative payment methods so customers can select the option which makes them feel most comfortable.

Numerous online payment mechanisms exist today. PayPal is a highly subscribed service, promising secure payment in multiple currencies. Wire transfers and pre-paid accounts are other secure payment methods often offered to customers.

Companies can use other approaches to instill trust in customers both during the early stages of the decision-making process and after a sale. Trust can be built by providing efficient and reliable services that meet customer needs. For example, Tesco (a U.K.-based food retailer) has an online food shopping service. Customers can log onto the Tesco website, select their groceries and when they would like the items delivered to their home. For working customers who have little free time, this convenience often outweighs the need to personally select fruit, vegetables, and meat. And if customers are satisfied with the quality of the products delivered, they will become repeat customers.

When e-commerce operations follow an omnichannel approach, they are wise to implement fraud management efforts across channels. In doing so, they can quickly detect and address suspicious activities, no matter where and how they occur. In so doing, they offer a more secure shopping experience.

4. Complexity, uncertainty, and fraud

The O.E.C.D. Observer published a spotlight on the digital economy in 2016. The article addresses the untapped potential of e-commerce. Across the 35-member countries of the Organisation for Economic Co-operation and Development (O.E.C.D.), half of all consumers made an online purchase in 2014, but 75% of those consumers connect to the Internet daily.

This is reason to conclude there is untapped potential, particularly for cross-border e-commerce.

To illustrate, only 15% of consumers in the E.U. shop online from another E.U. Member States. The O.E.C.D. considers the reasons why the full capacity of digital consumption has still not been reached despite improved consumer access to goods and services at competitive prices due to the Internet and mobile technology.

The O.E.C.D. notes “online shoppers complain about complexity and uncertainty about delivery for instance, or dispute resolution, and can be victims of misleading or fraudulent business practices. And improvements in business transparency, such as who to contact when a problem occurs with a good or a service, don’t often extend to improved disclosures about how personal data may be collected and used by businesses online. Although consumers now have more tools to help police market conduct, the role of well-equipped consumer watchdog authorities, like the French D.G.C.C.R.F., remains essential to enhance trust in the digital marketplace.”

Has your organization had to overcome technical hurtles in order to offer a smooth e-commerce experience? Tell us about it in the comments down below.  

The post How to protect against 4 e-commerce security challenges appeared first on Trade Ready.

E-commerce is radically shifting how customers are interacting with businesses. No longer does a potential customer have to travel to a brick-and-mortar store to look through a limited selection. They can now go online and shop across a multitude of stores in a matter of seconds. As customers turn to the Internet to do their everyday shopping, businesses must shift their attention to the digital space. The FITTskills Global Value Chain training course outlines the rise of e-commerce and how it can benefit your business.

E-commerce involves conducting business operations using the Internet. Online business encompasses a wide range of functions and is completely reliant on I.T.

Up-front costs for web-based business operations are usually low and data can be exchanged between global organizations rapidly and cost effectively. An organization can track exactly what is happening in any part of the supply chain at any time. This knowledge can be used to anticipate problems, identify bottlenecks, and keep meeting consumer demand. E-commerce can deliver products directly from the manufacturer to end customer, and has led to the fast rise of online retailers, such as Walmart, Costco, and Home Depot, to provide their customers with online options. Inventory issues directly impact customers and can quickly impact an organization’s brand and reputation.

Advantages of e-commerce

The advantages of e-commerce include:

• Market access and competition: Buyers and sellers have access to goods, services and supply chains all over the world.

Global access to new markets means more product choices for consumers who can quickly research options and determine the most suitable choice. For sellers, it means more choice for non-core competency providers including suppliers, distribution and even third-party payment processing services.

• Improved communication: Buyers are able to communicate quickly with sellers and in many cases are able to track the status of their purchases online. Supply chains have constant inter-communication to mitigate production risks effectively.

• Real time access to data: Technologies enabling real time inventory and production statuses, and websites offering current marketing material, reduce time to market production and allow more immediate customer marketing feedback.

• Cost: For suppliers, online business and electronic communication reduces, and in some cases, removes the need for physical space for inventory and extra staff.

It can also cut some production and distribution costs if goods and/or services can be accessed online or downloaded by consumers.

E-commerce can also reduce marketing costs by sending targeted emails to customers as opposed to other marketing options. Finally, increased competition and not having to travel to purchase goods reduces costs for buyers.

An excellent example of a business taking full advantage of e-commerce opportunities is Sotheby’s. Sotheby’s is a large and growing online auction site that realized the merit of increasing its auction inventory to attract a bigger audience on the Internet. It revised its Internet strategy by opening its website, www.sothebys.com, to smaller dealers and auction sites, instead of competing directly with its competitors in the online auction business. With this approach, Sotheby experienced exponential growth in its inventory, which attracted a bigger market. Sotheby’s not only provides dedicated websites for its members, but it also handles all billing and collection, which has attracted thousands of participating collectible businesses with inventory to sell.

At the same time, Sotheby’s has remained focused on its high-end clients. It now offers an iPad application for international realty to attract consumers interested in purchasing multi-million dollar properties. The app was designed specifically for those who want to see more than just static photos and written descriptions when researching homes online. According to John Passerini, vice president of interactive marketing at Sotheby’s International Realty, the app allows buyers to understand the “context” of the properties they’re viewing, and where those properties are located in relation to nearby amenities like golf courses, vineyards, theaters and restaurants.

Barcoding and RFID Tags

With e-commerce becoming more prevalent and one of the unique selling points being able to track a purchase at every stage, having a way to easily identify products is essential for e-commerce. Bar codes are machine-readable representations of information that enable companies to label goods and track their movement through the supply chain. Barcoding facilitates monitoring of the supply chain in the manufacturing process, in warehouses, during shipping, and at point of sale. As products are sold, purchase orders for replacements can be transmitted automatically.

This immediate response reduces the risk and cost of carrying excess inventory.

In many cases, the supplier will produce more product in response to an order, and the supplier’s supply time will be shorter. Also, barcoding and other representations of information save administrative time, as they allow for easier processing of materials.

While still prevalent, barcoding systems are now being replaced by radio-frequency identification (RFID).

Radio frequency identification, or RFID, refers to technologies that use radio waves to automatically identify people or objects. The most common method is to store a serial number that identifies a person or object on a microchip that is attached to an antenna (the chip and the antenna together are called an RFID transponder or an RFID tag). The antenna enables the chip to transmit the identification information to a reader. The reader converts the radio waves reflected back from the RFID tag into digital information that can then be passed on to computers to make use of the information.

There are two types of RFID: active tags and passive tags. Active RFID tags have an internal power source and emit radio frequencies that can be detected by RFID readers or sensors up to hundreds of metres away. Passive RFID tags do not contain an internal power source. When they encounter radio waves from the RFID reader, the coiled antenna in the tag generates a magnetic field from which it can derive energy to transmit the RFID information.

Sensors for RFID tags can be located in warehouses, manufacturing sites, vehicles, and stores. Some systems permit precise tracking of shipments and estimated time of arrival using global positioning systems (GPS).

For foreign suppliers and buyers, the ability to track inventory throughout the global value chain anywhere on the globe provides more certainty.

Inventory tracking systems can feed into inventory management software and EDI systems to keep organizations informed to facilitate scheduling, planning and forecasting.

The use of barcodes and RFID tags allows the customer to actively track every step of the supply chain, from initial purchase all the way to delivery. This level of control creates a strong sense of customer satisfaction, which boosts the chances for returning customers.

How is your company embracing e-commerce? Let us know in the comments down below. 

The post Get on board with e-commerce – your competition is already there! appeared first on Trade Ready.

E-commerce has evolved rapidly over the past decade or two, and it is more important than ever for companies looking to reach new customers in international markets. Whether you work for a major multi-billion dollar corporation or run your own small business, there are e-commerce solutions you can use to grow.

For companies who have never engaged in e-commerce before, getting started could understandably seem a little daunting. To explore these opportunities and help you understand how to start and succeed in e-commerce, we asked some of today’s leading experts to share their thoughts in this month’s #TradeElite Twitter chat. Here’s what they had to say.

Moderator: Doug Bruhnke (@GlobalChamber) is based in Arizona, and is CEO of Global Chamber, a community of CEOs, executives and leaders in hundreds of locations worldwide. His personal Twitter handle is @DougBruhnke.

Panelists:

Isaiah Bollinger (@IsaiahBollinger) is based in the Boston area, and is the co-founder and CEO of Trellis, a full service digital agency specializing in digital strategy, SEO, e-commerce, web design, web development, Magento, WordPress, and conversion optimization.

Casandra Campbell (@Casandra_Camp) is based in the Toronto area. She is a content marketing lead at Shopify and is the co-founder of @LibertyVilBeer.

Melody McKinnon (@MelodyMcKinnon), based out of British Columbia, is a digital marketing and media specialist who writes extensively about e-commerce for CanadiansInternet.com, the Huffington Post and several other companies and publications.

Cathy Roberson (@cmroberson06), located in the Atlanta area, is the founder and head analyst of Logistics Trends and Insights. She also writes about and works on projects related to e-commerce, market research and marketing.

Emil Stickland (@Thrive_Digi) is in Edinburgh, and serves as director for Thrive Digital, an agency specializing in helping companies to develop and improve their international e-commerce.

James Tobyne (@JamesTobyne) is in the San Francisco/Bay Area. He is working for an international localization tech startup, and previously worked in strategic partnership and business development for Alibaba.

Why do e-commerce? What types of businesses are ideal or not ideal for it?

@GlobalChamber I think a lot of businesses can benefit, so long as they offer differentiation and are not purely cost focused #TradeElite

— Thrive Digital (@Thrive_Digi) April 13, 2017

A1 Suitability: Consider product shipping cost, support staff, inventory capacity, market saturation & growth potential. #TradeElite

— Melody McKinnon (@MelodyMcKinnon) April 13, 2017

@GlobalChamber #TradeElite I think every business that sells product that can be standardized or shipped should be considering eCommerce to optimize sales.

— Isaiah Bollinger (@IsaiahBollinger) April 13, 2017

A1: If your product is shippable, it’s worth localizing for international markets for many product categories & business sizes. #TradeElite

— James Tobyne (任翔） (@JamesTobyne) April 13, 2017

Once a company decides to start selling via e-commerce, what should be the next step?

A2 – do your homework on what countries/region you want to expand to. #TradeElite

— Cathy Roberson (@cmroberson06) April 13, 2017

and understand all regulatory requirements, customs, border taxes etc. #TradeElite

— Cathy Roberson (@cmroberson06) April 13, 2017

A2 If the business is already established offline, the next step is to choose an ecommerce platform provider. #TradeElite

— Casandra Campbell (@Casandra_Camp) April 13, 2017

A2: Step 1: is deciding whether to go standalone, off-the-shelf technology, or marketplace listing. It’s cost vs control #TradeElite

— James Tobyne (任翔） (@JamesTobyne) April 13, 2017

What kind of budget might you need to get your e-commerce started?

A3: There are way too many variables to estimate cost, but there are eCommerce & eMarketing solutions for virtually any budget. #TradeElite

— Melody McKinnon (@MelodyMcKinnon) April 13, 2017

@Thrive_Digi Are there any guidelines, or ranges? #TradeElite

— Global Chamber® (@GlobalChamber) April 13, 2017

@GlobalChamber #TradeElite A very basic Shopify site might only be 5 to 10k and a big enterprise site could be millions to implement, a very large range.

— Isaiah Bollinger (@IsaiahBollinger) April 13, 2017

What are the best ways to set goals and evaluate success?

@GlobalChamber A4 Having a growth plan is key. Figure out how you will acquire customers and backwards. #TradeElite

— Casandra Campbell (@Casandra_Camp) April 13, 2017

@GlobalChamber #TradeElite Focus on small goals that can be attained quickly that add up to larger big goals. Update design, update feature x, grow traffic

— Isaiah Bollinger (@IsaiahBollinger) April 13, 2017

Hey this sounds like hard work! #TradeElite … but worth the climb if you do the up-front work.

— Global Chamber® (@GlobalChamber) April 13, 2017

Is there a common approach? How would you summarize the main steps?

@GlobalChamber A5 Step 1 – Proper Planning Prevents Poor Performance #TradeElite Steps 2 – ∞ TEST! #TradeElite

— Thrive Digital (@Thrive_Digi) April 13, 2017

What are the biggest e-commerce mistakes companies make? How can you avoid them?

A6: Huge inventory. Test & explore the market via online marketplaces or drop shipping before investing heavily in inventory. #TradeElite

— Melody McKinnon (@MelodyMcKinnon) April 13, 2017

A6 shipping costs – there’s alot of options but folks don’t seem to know these options. #TradeElite

— Cathy Roberson (@cmroberson06) April 13, 2017

And expecting traffic to just show up once you launch. You need to promote online sales just like any other channel. #TradeElite https://t.co/VViYOTnBaa

— Casandra Campbell (@Casandra_Camp) April 13, 2017

@GlobalChamber Failing to gather data, and doing things because they “like it” #TradeElite

— Thrive Digital (@Thrive_Digi) April 13, 2017

@GlobalChamber #TradeElite 1) Not detailing out requirements for launch & Thus under resourcing 2) No continuous improvement plan for post launch

— Isaiah Bollinger (@IsaiahBollinger) April 13, 2017

@GlobalChamber A6: The biggest mistake made by the big players is underestimating the value of customer service & the power of social media. #TradeElite

— Melody McKinnon (@MelodyMcKinnon) April 13, 2017

What special considerations do you need to make when considering specific target customers or countries?

@GlobalChamber @Casandra_Camp It varies massively, particularly in social. China (WeChat) vs USA (Facebook) #TradeElite

— Thrive Digital (@Thrive_Digi) April 13, 2017

@GlobalChamber Preferred payments, these differ to great degree cross-border #TradeElite

— Thrive Digital (@Thrive_Digi) April 13, 2017

@GlobalChamber A7 In many cases it will vary country to country. Different acquisition channels have different adoption rates across the globe. #TradeElite

— Casandra Campbell (@Casandra_Camp) April 13, 2017

Anything else important you want to share?

A8: Partnering with bloggers & influencers in my target market is one of the most effective & economical ways to promote. #TradeElite

— Melody McKinnon (@MelodyMcKinnon) April 13, 2017

@GlobalChamber #TradeElite we have had the most success from improving existing eCommerce sites, re-platforming is a painful process that is expensive.

— Isaiah Bollinger (@IsaiahBollinger) April 13, 2017

Read the rest of the chat and follow future discussions by following the #TradeElite hashtag. Stay tuned for the next #TradeElite chat, coming up Thursday, May 11 from 2:30-3:30PM ET.

The post How to set up your global business for e-commerce success appeared first on Trade Ready.