Mankind has a penchant for building great things. Things, that push the limits of creativity, and show what human beings are truly capable of. Skyscrapers that are a thousand feet high. Ships that are hundreds of yards long. Airports that are as large as cities. But the biggest and grandest one of them all, is the one that fits in the palm of your hand. Yes, we’re talking about the internet.
The Internet is the reason you can enjoy English tea on the streets of Kolkata. The Internet is the reason why you can wear Italian Silk in bustling Beijing. The Internet is what has made international commerce possible, and made the world a global marketplace. But anything great doesn’t come without some hurdles, and e-commerce has a few of its own:
1) Language barriers
English? Not English? A lot of product description, paperwork, and legal work can get lost in translation. What it can lead to is unforeseen holdups in shipping, which can lead to bad customer experience. It pays to have a good translation engine for your website, or the best shipping company around.
2) Domestic incorporation
If you’re trying to sell your product in a different company, be prepared to face some resistance. Often domestic corporations will get preferential treatment over overseas companies. This can take a hit on your revenues. Try building local business partnerships to get around this.
3) Legal limitations
What may be legal in one country, can be illegal in another. Product standards, packaging regulation, as well as other legal requirements vary across boundaries, and often are a sticking point in conducting e-commerce business.
4) Payment processing
Apart from plastic cards, there is no major leader in payment based ventures, with substantial penetration. Since bank and payment regulations can differ cross-borders, a robust payment system is needed to make e-commerce business smooth.
5) Dependable logistics
Strong logistics is the backbone of any e-commerce corporation. Without it, your business does not exist. A robust logistics brings dependability and predictability to your business, and adds value to your company’s USP.
E-commerce is a space that seems fraught with challenges. But what it really is a space with a lot of potential to expand. These challenges are a blessing in disguise, as they present opportunities to take global business to whole new frontiers.