In the event of a no-deal Brexit the value of Sterling against currencies such as the Euro and Dollar will unquestionably nosedive. Make no mistake, this will badly affect businesses that import goods from the likes of China as well as the EU. Even UK Manufacturing Companies that source parts or materials from outside the UK could be critically affected.
Now at the start of Q4 2018, given the seemingly never-ending repetition of in-fighting and indecision at Parliament over Brexit, there has never been a stronger need for call-to-action for businesses to put a strong focus on increasing their USD and Euro bank balances where foreign-based suppliers can be paid in USD or Euro.
Whilst Amazon.co.uk is way ahead in the UK, the EU is somewhat different. Amazon has their .es, .it, .fr and .de Marketplaces, yet there is much more competition for Amazon abroad with the likes of C-Discount in France, Allegro in Poland and Real in Germany (to name but a few) and Sears and NewEgg in the USA.
That said, how do brands and sellers overcome to obvious barriers to international trade? For many merchants, the major obstacle to growing internationally lies with skills and expertise within the business. International expansion requires in-depth understanding of not only the markets that you are seeking to enter, but also how to work those markets across a range of areas.
The common barriers to International Selling are;
– Dealing with International Shipping and Returns
– Local Taxes and International Accounting
– Offering Customer Support in a Foreign Language
– Fear of Fraud
– Import and Export Taxes
– Creating International Listings in a Foreign Language
– Currency Conversion and Uncertainty
How can we help?
Established in 2009, Percy Group based in Co Armagh, Northern Ireland provide award-winning, technology-driven services for brands looking to maximise their potential on Marketplaces such as Amazon and Growing Sales Internationally. We help break down the barriers to optimise and translate products listings, drive traffic, maximise profits, while maintaining a customer-focused experience throughout.
Get in touch today and help insure against a worse-case scenario. Best case? More sales anyway!