Emerging B2B Markets for Global Ecommerce Trade
If your ecommerce business is looking for new B2B markets, forget Europe. Not only is it over-saturated, exporting to neighbouring countries could get more expensive after Brexit. There is a world of opportunity waiting for ambitious brands - and the best places to target are a long way from EU member states.
The top ten fastest-growing markets for global ecommerce trade are being propelled by increasing internet penetration, use of mobile phones and evolving delivery networks. Comgem, the UK’s market-leading developer of B2B ecommerce platforms, has studied research undertaken by ePayment provider PPRO. It says, data suggests there are huge opportunities for B2B businesses to grow overseas and establish themselves before growth slows. In this feature, Comgem’s Commercial Director, Dani Attard, reveals the best places in the world to target.
Top 3 hot spots for overseas B2B markets
Dani says: “The B2B markets with the most potential may surprise some people. They include the Philippines and Mexico, along with Indonesia. In fact, Indonesia is currently the world’s fastest-growing ecommerce market. Here, online sales have a huge growth rate of 78 per cent. In Mexico growth is up by 59 per cent and Filipinos are driving online sales to a growth rate of 51 per cent.
“Indonesia is one of the world’s most densely-populated countries, yet internet penetration currently stands at just over 40 per cent and is growing. More than 85 per cent of online buyers pay using credit cards, bank transfers and e-wallets. This is favourable when compared to the Philippines, where customers still prefer to pay cash on delivery. For drop-shippers and those who can source supplies in or near Indonesia, this poses huge opportunities.”
New B2B markets and how to target them
Comgem says a robust, efficient ecommerce platform that seamlessly integrates with suppliers is needed to make an impact in new B2B markets. Dani points out: “Efficiency will ensure an ecommerce platform makes the most of every opportunity. Making a site easy to navigate is equally important. Ensure your platform is also capable of rewarding new customers with special offers and discounts because these are the things that will really get you noticed, particularly in Indonesia.”
If your B2B ecommerce business is experiencing a slowdown in growth, now is the time to look to emerging markets. The logistics of serving overseas clients in far-flung locations is not as prohibitive as you many think. There are ways of capitalising on opportunities that maximise profits. Discover the ecommerce features your business needs to conquer new B2B markets - download Comgem’s completely free guide and grow your business on a global scale.