Whether you’re expanding to remain competitive, or to grow as a company, some countries offer greater economic opportunity.
With over 1 billion people and a rapidly growing economy, China is estimated to spend $1 trillion online by 2019 (Business 2 Community). That, along with increased mobile sales, makes China an ideal place for online businesses to target. But be effective, one must to study cultural nuances.
While this may or may not come as a surprise, Russia has the highest number of Internet users in Europe, with 59% of adults (~60 million people) — making it an ideal place for expanding in the near future. Russian consumers seek a diverse range of products to be offered to them.
Brazil’s remarkable economic growth over the past 15 years has made it one of the most quickly developing economies in the world, responsible for almost half of Latin America’s GDP, and host of the Olympics in 2016.
Japan has the 4th largest economy in the world and scores a 70.1 in online market attractiveness in a report by A.T. Kearney. Although their consumer have embraced Western culture, remember to incorporate Japanese tradition into your business practices and communication.
With 29.5% growth potential and a score of 66.6 in online market attractiveness (A.T. Kearney), Germany is certainly a country ripe for more online businesses. Germany is less regulated, but beware the legal limitations of any EU territory (like collecting VAT). Bringing in physical products, even to sell online, involves a lengthy customs process.
An ideal location for small to medium businesses expansion. French residents take pride in their language — which means you MUST translate your website before making any attempt to conduct business in France.
Boasting the 3rd largest eCommerce market in the world, and speakers of English — but consider using Localize to offer the English (UK) locale for content and currency (British Pound).
Said to have the highest wireless Internet speeds in the world, including advanced mobile markets. Luckily, online businesses still have opportunities to enter the market without many other direct competitors. It’s also a regional influence on culture of surrounding nations. Entering Asia via South Korea (like many other global brands and pop culture icons) improves your likelihood of successful expansion into other nearby markets.
Understand The Market
When entering another market, consider the cultural, economic, and political factors. No matter where you decide to take your business next, remember that we’re here to help make it easier.