Writing for the BigCommerce blog as part of their How to Sell Online Series, Chase Jones of PayPal encourages those considering international ecommerce to spend time researching and planning their strategy.
Like traveling abroad, selling abroad is an adventure that has the potential to be transformative to your career and your business. It will expose your company to new countries, cultures and, most importantly, customers.
When my company launched its four European websites, we effectively planned in many ways, but payment methods was one area where additional research would have been helpful. Forty-six percent of online shoppers in Germany, for example, prefer to pay via online bank transfer. And so if we do not offer online bank transfer as a payment method, we have effectively cut off 46% of our target market. It is for this reason that I said additional research into common European payment methods would have been beneficial.