The holiday season is fast approaching. Time for a… pop quiz? What is the biggest shopping day in China? We’ll give you a hint, it is not Black Friday (the day after Thanksgiving) like it is in the United States. Nor is it Boxing Day (the day after Christmas) like it is in the United Kingdom. The correct answer is today – November 11th (or 11/11) – known as Single’s Day.
Single’s Day has its roots in the 1990s, where it began as Bachelor’s Day in China, celebrating men who are single. The date was chosen because of the amount of “1’s” in the date. Since then, it has also evolved into a day focusing on sales, discounts, and shopping. Due to China’s large population as well as the recent debut of Chinese eCommerce company, The Alibaba Group, on the NYSE, we are paying special attention to this holiday as a huge boon for global eCommerce. According to the Wall StreetJournal, this day has generated $9.3 billion in transactions this year!
When looking to target a new locale for your eCommerce store, where should you look? No, this isn’t a pop quiz this time! We’re here to help guide you in the right direction. There are over 3 billion Internet users in the world.
What do these numbers mean for you? Localizing your content into these 10 languages can help you reach 84 percent of the world’s users. This is a great starting point. Next steps are to research. Look at your products. How will they be received in each of these target markets; is there a demand? Also, take a look at your website analytics to see what countries people are accessing your website from.
If you have a language and target market in mind, take it a step further. There are a few other factors to consider: mCommerce, currency, payment, fulfillment, and any barriers for entry. Is your localized site mobile friendly? This is important if your target market shops on their smartphones. What types of payment and currency will you accept? How will you get the products there? Are there any obstacles in your way from government regulations, tariffs, etc.?
As you looking to establish your global eCommerce store, it is important to start thinking about these factors. There is great opportunity that comes with localizing your website to reach new language markets. But it takes planning. This includes researching demand, spending habits, payment habits, and trends among target consumers and making sure your product can reach them with ease in a timely manner!
