The rapidly evolving scope and nature of the e-commerce landscape has many business leaders asking themselves, “Should we go global?”
With this question in mind, consider that:
- 8% of the world’s online population is from non-English-speaking regions of the world
- $676 billion in cross-border purchases were made by consumers in 2018 (B2C)
- $125 billion in cross-border purchases were made by businesses in 2018 (B2B)
- By 2020, B2C & B2B cross-border purchases are expected to exceed $1 trillion
While pursuing a global strategy can seem intimidating, there are fundamental components your business can deploy to conquer cross-border challenges and find success in new markets – a Product Information Management System (PIM) and a Translation Management System (TMS).
Adopting a localization-ready PIM like inRiver is an important component of your cross-border commerce strategy. Over 70% of returned products are returned due to errors in product data (size, weight, or other measurements) and younger generations tend to return significantly more often than older generations. A good PIM allows your company to avoid these errors by simply and efficiently localizing product data for international markets.
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*Post written by Translations.com, an inRiver partner and industry-leading TMS named, GlobalLink. GlobalLink provides an all-in-one solution to initiate, automate, control, track, and complete all facets of the translation process. The unique combination of inRiver and the extended localization workflow capabilities of GlobalLink provides inRiver users with a comprehensive solution for managing global content while cutting costs and turnaround times by more than 50%. When combined with GlobalLink AI, inRiver users save even more.
Translations.com is the world’s largest provider of enterprise localization services and technology solutions. From offices in over 90 cities on six continents, Translations.com offers a full range of services in 170+ languages to clients worldwide. More than 5,000 global organizations employ Translations.com’s GlobalLink® Product Suite to simplify the management of multilingual content. Translations.com is part of the TransPerfect family of companies, with global headquarters in New York and regional headquarters in London and Hong Kong. For more information, please visit www.translations.com.