Plugging Into the Global MarketplaceJuly 31, 2014
Anne Grey is the Executive Director of the International Trade Administration’s Trade Programs and Strategic Partnerships. Bob McEntire is the Acting Director of ITA’s Office of Strategic Partnerships.
Taking your business online can be a daunting task. Exporting to global markets online can be even scarier.
In a recent International Trade Administration (ITA) webinar, Melissa O’Malley, Paypal’s director of global merchant and cross border trade initiatives, said that although it may be intimidating, the benefits are exponential. Note: We will upload a recording of this webinar as soon as possible.
With the rise of Internet connected devices, more people around the world are plugging in and shopping online, and when it comes to online shopping, it’s becoming increasingly prevalent for goods to be purchased and shipped across borders.
O’Malley has found that people are driven online for cross-border shopping for two reasons:
- There is often more variety available online, and
- It’s often cheaper for consumers to shop online.
Cyber Monday and Black Friday are two days that have changed the ways Americans make their purchases. But “holidays” like these happen all over the world and are amazing opportunities for businesses to market their products. Here are some examples:
- Singles Day. A Chinese holiday celebrating, you guessed it, the singles of the world. It happens every year on 11/11, representing the 1 person in your life that really matters, and every year people go crazy for shopping. In fact, Singles Day is the world’s biggest annual shopping day, dwarfing both Black Friday and Cyber Monday. In 2013 $8.2 billion was spent in a 24-hour period. That’s a lot of new clothes.
- Boxing Day. This is the day after Christmas in the UK, Australia, and Canada. In 2013, 9.8 million people shopped and $3.6 billion was spent. With 17 million hours spent online shopping, Boxing Day is the biggest online shopping day ever in the UK.
- Lover’s Day or Dia dos Namaorados. The Brazilian version of Valentine’s Day takes place on June 12th and the cross-border online shopping is due to grow 546% in the next 4 years. That means about $8.4 billion to be spent in 2018. The U.S. is the main market for Brazilian goods bought online and this market continues to grow.
International Trade Specialist Doug Barry says that businesses using digital tools including social media and websites tend to be more successful.
This webinar was part of a larger strategic partnership between ITA and Paypal’s parent company, eBay. ITA works with all of its strategic partners to help more businesses learn about support available to help any business compete and win in the global marketplace.
We are excited to work with eBay to help more businesses export through digital channels.
ITA’s Commercial Service team is a worldwide network of experts who strive to help companies expand their reach and build their businesses. Contact your local export assistance center to find out how you can start exporting.