The Ecommerce Club and its’ partners Trustly, Kooomo, Oracle+ Bronto, Oban International and Yieldify hosted a working lunch on International growth last week at our fave venue Gordon Ramsey’s Heddon Street Kitchen.
Luke Flomo from Trustly chaired instead of me and he did an excellent job talking about how payments change from country to country with 46% of purchasers in Poland, for example, paying by invoice and that it is crucial to offer the appropriate payment options. Some of the guests in the room such as Krispy Kreme have just been bought and wish to expand further into Europe, as is streetwear brand Stow. Ciaran Bollard of Kooomo spoke first and their cloud based, scaleable ecommerce platform helped Diadora launch into 14 new markets in just 6 weeks as they can provide the platform with plug-ins to multiple other vendors for things like personalisation, email marketing and logistics. His top tip was to not rush headlong into a new territory but consider your brand position and operational impact. Jonas Algren, CEO at Artfinder talked about how they took a considered approach to their expansion strategy but identifying where they already had buyers and artists so there was a burgeoning community but they also cross checked this with how saturated the market was in that locale. So New York was ruled out but Boston and Miami won out for example. This seemed to be a very sensible strategy and proved effective. Grieg Holbrook from Oban International was up next and his insights were based around achieving the appropriate culturalisation and localisation. Oban run campaigns in 78 countries and his top tips are to know your markets and the key dates such as singles day also lesser known ones like Woman’s Day in Russia or Ephiphany in Spanish countries. Then make the most of social and be on platforms like Vkontakte in Russia or WeChat in China as that is where many of your buyers are. Also bear in mind that 60% of people won’t buy from a site that is not in their language but it’s really important to get that language absolutely right as getting the phraseology correct in a sports related keyword they reviewed which resulted in an increase of 650K impressions. Julien Callede who was co-founder of Made.com then gave us some insights into how he lead their international expansion by setting a date for the first new territory which was France and then working towards it with his team. They choose France as it was easy to travel to and they understood the market then going into Italy, Netherlands, Germany, Belgium, Austria and Switzerland so they are now in 7 markets with over one hundred million turnover. Julian said you need to think about things like…
- What’s your product
- Global vs Local
- Learn from Others
- Think routes to market
- Where to base your team and warehouses
Please sign up to our next lunch on Wednesday January 17th on CRO is Dead here and thank you for the continued support of our partners and Ecommerce Club retail members.