Since 2013, China has been surpassing the US in eCommerce sales and that growth is expected to reach 1.13 trillion by the end of 2017. If you’re in an online retailer in the US looking for ways to reach this lucrative market, here are a few ways you can boost sales during the holiday season.
In China, there are 4 major holidays that US etailers should start planning their marketing efforts around. Consider developing campaigns or increasing your advertising budget during these peak holiday shopping periods in China:
Also, notable to add is the increase in interest around Black Friday here in the US. More and more Chinese consumers scour for deals during the largest US shopping day which typically falls in late November.
Goods manufactured here in the US are growing in popularity overseas. Due to US products being made with high-quality materials and subject to stricter regulations and standards, Chinese consumers are paying top dollar for items labeled ‘Made in the USA’. If you sell a US made product online, the best way to reach Chinese consumers is by accepting UnionPay at checkout. UnionPay is China’s government backed bank card and currently has over 6 billion active cardholders throughout Asia. And most recently, China’s government has made it mandatory to purchase items overseas using only UnionPay as a way to monitor cash flow exiting the country in an effort to reduce fraud. If you are thinking of expanding to the Chinese market this holiday season, partner with a payment gateway processor like GlobalOnePay that accepts both Unionpay Debit and Credit cards and gain access to new customers and markets quickly.
One of the biggest issues US retailers face today when expanding overseas, is making it easier for Chinese consumers to pay for their purchases online. Avoid buyer friction by offering multi-currency pricing, which allows Chinese consumers to see items for sale in your online store in their home currency. GlobalOnePay offers multi-currency pricing which not only supports China, but over 80 currencies worldwide. GlobalOnePay’s turnkey platform makes it easy and seamless for you to integrate on many popular shopping cart platforms and requires no foreign bank accounts or business structure overseas. Watch your conversions and profits soar by expanding your reach to China and beyond.
Shallana is currently the eMarketing Brand Manager for GlobalOnePay, a division of Pivotal Payments Inc. As an experienced marketer and writer, she wants to help eCommerce merchants navigate the complexity of the payments industry with simple tips, best practices and informative articles designed to help them grow domestically and internationally.