How local SMEs can leverage cross-border e-commerce opportunities

WITH cross-border transactions already accounting for approximately 31.2% of all global online sales and projected to grow 219% faster than global e-commerce as a whole through 2028, the market is expected to reach $5.06 trillion in sales within the next three years.

- ASHLEY LECHMAN

Despite this boom, cross-border trade remains a largely untapped opportunity for small and medium-sized enterprises (SMEs).

"That is set to change with e-tailers bold enough to navigate the global landscape standing a chance to reap huge benefits in the years to come," Gregory Saffy, managing director for Sub Sahara Africa at FedEx said.

There are several important practices that businesses should keep in mind when wanting to expand outside of their home territory, Saffy told Business Report.

These include:

Localising for your target market

To boost global sales, SMEs must tailor their offering to local preferences. This includes researching your chosen market, translating product descriptions where needed, using local currencies, adjusting sizing or packaging, and aligning messaging with cultural norms.

Localisation builds trust and relevance, increasing the likelihood of purchase. Understanding regional buying behaviours and adapting accordingly helps brands stand out in competitive foreign markets.