The go-to-market strategy for retailers and brands is changing. Data shows that third-party (3P) commerce is a significant driver of revenue and businesses are rethinking their strategies to compete. Three out of five surveyed global retailer and brand executives said they plan to increase the use of 3P commerce over the next year, according to “The State of 3P Commerce Report,” by Rithum and Wakefield Research.

Sales are growing for global retailers and brands selling through a 3P commerce business model, according to the report. Consumers are engaging and purchasing across multiple sales channels.

3P commerce the ‘most flexible’ business model to weather economic volatility

Selling through multiple channels profitably can be challenging. Online retailers and brands are facing increased competition for consumers’ attention while navigating complicated integrations and compliance requirements while also meeting fulfillment demands. Despite this, nearly every surveyed retailer and brand agreed that 3P commerce is the best sales model to manage economic volatility.

Regionally, 62% of UK respondents agree that 3P commerce is the best model to withstand market instability, followed by 48% of US and 36% of German executives, respectively.

Retailers and brands are choosing 3P commerce because it allows them to reach more shoppers. However, managing a multichannel selling strategy manually can be costly, requiring specialized expertise and resources. Nearly every surveyed executive (97%) said selling through a single tool would be a “game-changer” for their company.

Rithum simplifies the process by helping minimize product cannibalization, protecting brand perception and offering retailers and brands an opportunity to gain market share in a competitive retail landscape. By leveraging a network of more than 40,000 retailers and brands, more than 420 marketplaces and retail sites, Rithum can help retailers and brands to achieve profitability at scale and speed.

Download the full report to learn more about the other reasons retailers and brands are turning to 3P commerce to grow profitably here.

The post Demand for 3P Commerce Grows Among Global Retailers and Brands appeared first on Rithum.

Retail media is growing digital marketing opportunity for retailers and brands to drive product discovery and sales with consumers. Globally, 42% of consumers indicated they have clicked on an online advertisement with intention to buy that product, according to the 2023 Online Consumer Behavior Global Report conducted by Rithum and Dynata. Cross-border e-commerce retail media advertising requires an understanding of local market dynamics, how to leverage historical campaign data, and optimizing ad spend. Here are five tips to boost cross-border e-commerce retail media advertising revenue.

1. Understand and leverage retail media networks

• Choose the right global and regional retail media networks with a strong presence in your target markets such as: Amazon, Walmart, Target, and others.
• Use platform-specific tools. For example, sellers can use Amazon DSP (Demand-Side Platform) for precise programmatic advertising that targets consumers across different regions.

2. Use localized content and creative

• Ensure cultural and language adaptation. Ad content involves more than translation. It must also be localized to resonate with local consumers. You can achieve this by tailoring your messaging, imagery, and promotions to align with consumer behaviors in each market.
• Consider local trends and preferences. Campaigns should adapt to reflect local shopping trends, holidays, product seasonality and preferences. These include popular sales events such as Singles Day in China or Black Friday in the US.

3. Target advertising based on data

• Leverage first-party data. Use your (and the retailer’s) customer data to create highly targeted campaigns. Segment your audience by shopping behavior, location, and preferences to deliver personalized ads that resonate in each retailer market.
• Use retail media analytics. Monitor ad performance and refine your strategy in real –time using insights from Amazon Marketing Cloud, in-platform reporting, and other retailer-specific reporting capabilities. This data-driven approach ensures that your campaigns remain effective and relevant.

4. Focus on high-value placements

• Strategically place ads where they will have the greatest impact depending on your strategy and goals. Position your ads at the top of search results, on product pages, or within relevant categories. Securing high-value placements can boost visibility and drive conversion.
• Bid smart by implementing dynamic bidding strategies to secure premium ad placements during peak shopping times, such as major local holidays or sales events.

5. Optimize for local market compliance and logistics

• Ensure your ads comply with local regulations, consumer protection laws, and privacy regulations.
• Offer localized customer support in local languages to enhance customer trust.

“It’s critical to balance winning strategies from retail media giants such as Amazon and eBay, while also tapping into regional retailers that reach a niche audience for your brand.”

Meghan Barden, Director, Global Retail Media at Rithum

“As more retailers across the globe launch their retail media network offerings, it is critical to ensure you are balancing winning strategies from the retail media giants such as Amazon and eBay, while also dipping into regional retailers that may have a niche audience you would like to target,” said Meghan Barden, Director, Global Retail Media at Rithum.

Cross-border e-commerce retail media planning for the holiday season

Brands and retailers should plan early ahead of the peak holiday shopping season. 68% of global consumers said they intended to wait for annual promotional shopping events such as Amazon Prime Day, Black Friday and other annual sales before making expected purchases, according to the Dynata survey.

Rithum offers robust reporting which brands and retailers can use to analyze past holiday sales data trends in your target markets. Understand what products are in demand, local shipping behaviors, and key dates. Connect with your key retailers to understand their promotion plans, upcoming discounts and overall messaging during the peak season. There can be an opportunity to draft from the traffic they are driving and tap into unrealized opportunities with incremental shoppers.

Ensure you have a sufficient stock of best-selling products. Plan to secure high-visibility ad placements on key retail media platforms. Implement retargeting strategies to reach customers who have shown interest in your products but haven’t made a purchase. Offer incentives such as limited-time discounts to drive sales.

Rithum allows brands and retailers to monitor and adjust your retail media ad strategy in real-time. Keep a close eye on your campaign performance, sales data, and inventory levels throughout the holiday season. Be prepared to adjust your cross-border e-commerce strategy quickly based on what’s working and what’s not.

Use AI-driven insights to optimize retail ad campaigns in real time

Rithum provides direct insights into product attributes and data, like inventory, sales data, and labeling. Brands and retailers can use granular product data to support your strategy. Using AI-driven insights, Rithum’s retail media solution can help you allocate budget, optimize bids, spend strategically throughout the day, and adjust product placements in real-time.

After the peak holiday season, continue to advertise while measuring successes and learnings throughout the seasons. Gather feedback from your holiday campaigns to learn what worked and what didn’t. Use these insights to improve your cross-border e-commerce retail media ad strategy for next year.

Learn how to expose your products to more consumers by creating, monitoring, and managing all your marketplace and retail site advertising through Rithum. Schedule a demo here.

The post Boost Cross-Border Sales with Five Retail Media Advertising Tips appeared first on Rithum.

Growth opportunities abound for brands and retailers expanding their e-commerce businesses internationally. However, there are challenges to navigate such as managing inventory across multiple countries. Cross-border e-commerce entails managing complex logistical and regulatory requirements that differ from country to country.

Here are five ways brands, retailers, and suppliers can optimize selling to consumers globally.

1. Use automation to manage inventory, product information and catalog translations at scale.
   It can be challenging to manage inventory across diverse markets. Ensuring your product information such as product sizes, weight, and category are accurate can significantly impact shipping costs and compliance with local regulations. Translating product catalogs to suit local languages may also be necessary.
2. Optimize cross-border payments: Understand currency valuations and pricing in local currencies.
   As part of a seller’s pricing strategy, you should understand how currency valuations compare from country to country. Setting product prices in the target country’s currency ensures competitiveness and market relevance.
3. Track global logistics and shipping paths through one platform.
   It is necessary to accurately track inventory once the customer makes a purchase until they receive it.
4. Understand international legal entity, taxation and logistics requirements.
   Each country has its own tax and entity requirements that must be met to avoid legal complications.
5. Use technology to compete in cross-border e-commerce.
   Sellers must assess and analyze competitors in each market they are selling in. Consumer preferences can differ greatly from country to country. There is no blanket strategy to stand out against competitors.

“Selling cross-border is a strong growth opportunity for retailers and brands but it’s not without challenges. One of the biggest obstacles for businesses is converting local currencies. Each country has unique taxation and entity requirements. Businesses need a unified solution to help streamline their operations across geographies. Rithum can help sellers convert cross-border payments in real-time,” said Christian Gees, director, sales, EMEA at Rithum.

How to prepare for the global peak shopping season

The holiday season kicks off as early as October worldwide. By preparing early, brands, retailers, and suppliers can optimize their online retail and digital marketing strategies. The demand is there – 44% of global shoppers are willing to purchase an item from a retail site or online marketplace in a different country from where they reside, according to the 2023 Online Consumer Behavior Global Report by Rithum and Dynata.

Rithum partners with a network of the world’s leading fulfillment and logistics companies to facilitate seamless cross-border e-commerce expansion. The majority of Rithum’s brands in EMEA sell cross border e-commerce. These partnerships ensure that sellers’ products are efficiently tracked from purchase to fulfillment and delivery. Rithum’s network gives sellers the ability to leverage localized expertise to manage the complexities of selling internationally.

Localize product content

Selling cross border involves localizing content. Rithum’s features like Business Rules and Look Up List, can help brands ensure they are using the most searchable keywords for product titles and descriptions. For example, when an EU brand is selling into a US market or vice versa, Rithum must account for different keywords for items such as trousers vs. pants, or sneakers vs. trainers, etc. Rithum’s Replace Word List function also adapts translations to be more search friendly.

Using artificial intelligence, Rithum’s AI Magic Mapper feature helps brands reduce time-to-site by automating categorization. This helps reduce the time for sellers to onboard onto new global marketplaces.

Other ways Rithum can help include:

• Use Rithum’s team of experts. Experts with more than 20 years of experience in global e-commerce provide invaluable insights and guidance. For example, Rithum can help EMEA sellers and suppliers navigate complexities with VAT, local entity requirements, and picking the right channels to sell through. These also are hurdles for sellers selling from the UK into EMEA as well as US and APAC sellers.
• Receive extensive support by country. Rithum supports sales in numerous countries with platform support in local languages and currencies. Rithum’s conversion function is accurate, which is helpful for seller and supplier finance teams in reconciliation.
• Take advantage of strategic partnerships. Extensive collaborations with major global shipping carriers and third-party logistics companies enhance the efficiency and reliability of your international distribution.
• Receive marketplace guidance. Determine the potential and fit of various marketplace channels for your products.
• Use automated system logic. Thousands of automated rules ensure that products are listed appropriately based on compliance and profitability.

By automating inventory management, using global logistics networks, and providing expert guidance, Rithum helps you overcome challenges while unlocking new growth opportunities in the international marketplace. Learn how Rithum can empower your business to manage the intricacies of cross-border e-commerce here.

The post Five Tips to Grow Your Cross-Border E-Commerce appeared first on Rithum.

The world has never been more connected than it is today. We have real-time access to global news. We text with friends thousands of miles away. And we can shop in international markets from the comfort of our homes. 

The internet has blurred borders, making international e-commerce an easier and more lucrative opportunity than ever. Is your program ready to explore new markets? 

Let’s take a look at the considerations and strategies successful global brands use to sell internationally. 

The Benefits of Selling Internationally

Until now, you may have avoided international expansion in favor of focusing on a single market. But if domestic sales are feeling stagnant or you’re ready for a new challenge, selling abroad can provide a number of benefits, including:

• Increased revenue. Cross-border selling opens your brand to new buyers, increasing sales beyond your domestic pool. In a survey of 1,000 U.S. small business leaders, three in four respondents viewed expanding trade to other countries positively, and nearly half felt expanded trade would be beneficial to their business or company. In the same survey, 78% indicated they believe increasing trade can lead to further opportunities and job creation.
• Greater brand exposure. International e-commerce allows you to create brand fans all over the world. International exposure means more opportunities for sales, engagement with new markets and potential new partners.
• “Always-on” selling. Whether shoppers are at your brick-and-mortar store or halfway across the world in pajamas, selling online means you never miss a sale. When they’re ready to buy, they can.
• Broader competition. Competition is fierce in a saturated domestic market. But expanding internationally means diluting the pool, potentially lessening your competition.  
• Expanded distribution of excess inventory. Need to move surplus inventory? International selling opens these products to new markets for purchase. In categories like fashion or home decor, international markets may be eager for out-of-season stock even as styles and consumer shopping trends change in your home country. Plus, as hemispheres change seasons, products like winter coats or bathing suits receive extended life from markets with increasing demand.

How to Sell Internationally

Selling online makes international trade possible and efficient in ways “old-fashioned” commerce can’t. There are two primary ways to sell online across borders:

• Brand website — Make your brand accessible to any worldwide audience. With an e-commerce website, you control every aspect of your program — the exposure, listing, fulfillment, etc.  
• Marketplace(s) — Don’t have a website? No problem. Benefit from the vast audiences of global marketplaces such as Amazon, Zalando, Rakuten or AliExpress. Most marketplaces now have their own fulfillment options and advertising networks

You can also pair these tactics for even greater reach. Listing on marketplaces gives you the advantage of larger international audiences, while selling through your own website helps generate sales at lower cost. 

Considerations for Selling Internationally

While international trade has many benefits, it doesn’t come without risk or extra legwork. Be sure to account for these factors of selling internationally via your own brand website:

• Language barriers. For US brands, selling into neighboring countries like Canada is an easier first step than expanding to a new continent. Just remember: Despite many commonalities in some areas, regional differences still exist, such as, in Canada, the Quebecois. While selling into countries with cultural and lingual differences is certainly not impossible, it does require extra consideration and marketing to generate content and present products in a way consumers will understand and resonate with. 
• Payment options. Your brand may already accept multiple forms of payment, including Visa or Mastercard. But selling internationally requires simplifying the path to purchase for customers. Be sure to offer methods like PayPal, international ACH or wire transfer that are available to multiple markets. 
• Banned products. Products like alcohol, firearms, CBD oil and tobacco all come with strict regulations for selling abroad. But did you know baby walkers are banned in Canada? Or that video games must follow strict rules to sell in China? Check each of your SKUs against local regulations before entering the market. 
• Tax. Tax law is complicated and specific to every region you sell in. When you sell in international markets, you agree to its tax collection and reporting requirements. Consider consulting an international tax professional or service to avoid legal challenges later.
• International shipping. International shipping requires a lot more than delivery trucks or even a quick flight across states. You must consider whether or not to offer shipping discounts, where products will be warehoused and how to efficiently accomplish last-mile delivery — all in a country you may be unfamiliar with.
• Returns. Will you process returns the same way you do domestically? Who will cover the cost of return shipping? While most international brands’ return policies are the same across all locations, it’s important to put a policy in place before selling. 

Tips for Selling Internationally

As you wade into unknown (international) waters, try these tips for an extra leg up:

Choose new markets carefully.

Proximity and potential lucrativeness don’t necessarily make a new market the best choice. Conduct a thorough analysis of the countries you’re considering, making sure to account for the potential roadblocks above. You can also start small by only selling into one country at first or curating a smaller portfolio of products for the region. Then, use the knowledge you gain to expand into other areas. 

Track products with GTINs.

While SKUs are customized to fit each retailer’s needs, global trade item numbers (GTINs) are used by every seller around the world. GTINs make it easier for marketplaces and merchants alike to manage their listings and products. They also give marketplaces a way to pair the same product sold by different merchants, improving the customer experience.

Use creative, accurate, detailed copy.

Make sure you’ve included all the information a potential customer needs to know. Consider the shopping habits of consumers in other regions. How will they search? Do they call your product something else? Remember to translate and even account for local dialect and slang to ensure the highest visibility. 

Offer local customer service. 

Localizing your customer service will ensure customers can get help when they need it — not just when your headquarters are open. You can do this by:

• Contracting or hiring in-market personnel
• Extending domestic customer service hours to account for international consumers (possibly even 24/7)
• Implementing chatbots for off hours

Reduce team burden with automation. 

Most importantly, you can use technology to centralize your operations, sell more and reduce costs. Keeping track of prices, stock and customer orders is easy if you’re handling a few orders a day, but as the business grows and you start to get hundreds or thousands of orders every day, it can become overwhelming. To avoid this, you need a strong data management and synchronization system to keep your product information and inventory data accurate. 

Expand Internationally with Rithum

It helps to have a guide when you’re entering new territory. Rithum, a Rithum company, has 20+ years of experience helping brands and retailers all over the world expand, optimize and grow their e-commerce programs across channels and markets. 

Take it from New Jersey-based Bling Jewelry, who expanded to 44 domestic and international marketplaces from a single platform. Now, tasks like updating prices across currencies are easy and automated. “We change the pricing in one place and it changes in every currency within a matter of minutes. It’s almost magical,” said Elena Casteneda, CEO. 

Plus, Bling Jewelry can consistently manage and monitor its performance, optimize data feeds, reduce errors and drive sales from a single, streamlined interface to maintain its competitive advantage. “Rithum makes it so easy because everything is centralized,” said Castaneda. “Every time Amazon opens up in a new country, Rithum is right there to help us.”

Our network of more than 370 global channels gives you options for expanding into new markets in a seamless, integrated way. Plus, our teams in the US, UK, Ireland, Germany, France and Australia allow us to provide localized, market-specific expertise to help you expand and grow with confidence. 

Learn more by watching our Emerging Marketplaces: Optimize Your E-Commerce Strategy webinars for North America. Or contact us for a demo of Rithum’s multichannel commerce platform.

The post How to Sell Internationally appeared first on Rithum.