In our last blog, we championed the idea of selling your products to a worldwide audience. The most obvious reason to do so is that it will expand your customer base. Naturally, the more customers you have, the more money you stand to make. At Canadian POS Corporation, we offer our customers a fantastic e-commerce solution that enables them to turn their company websites into online stores.
With this service, Canadian business owners can easily and securely accept and process all credit cards, including Visa, MasterCard, Discover and American Express, on their websites. As well, secure real-time transaction processing and advanced risk management tools protect online businesses from fraud. And with a direct connection to our powerful and reliable processing network, the costs and complexities of dealing with a third-party gateway provider are gone.
On ProfitGuide.com, Joy Nott points out that the United States – as can be assumed – is Canada’s biggest export market. “The sheer size and similarities between the U.S. market and our own will continue to make it a natural place for Canadian companies to sell their goods and services,” she writes. However, she points out that Canadian business owners shouldn’t limit themselves to only selling to the American public. There are many opportunities that exist worldwide.
Here are two reasons to look beyond the U.S. for international sales:
1. Selling your products worldwide will help you to avoid pitfalls in the American economy. Nott insists that Canadian entrepreneurs should be wary of the fact that the U.S. has experienced some economic downturn over the past decade. As a result, selling to an international market can help to keep sales high, even when our American counterparts may not be in the mood to buy.
“The severity in the U.S. of the economic crisis of 2008-09 highlighted the risks of focusing on a single market,” Nott reminds us, “Companies that traded only with the U.S. found their exports slowing at best, and in many cases contracting. The prices Canadian exporters received dropped, particularly in the manufacturing sector. And the rise in the value of the loonie against the U.S. greenback further hindered exports.”
2. International sales help you to capitalize on faster-growing markets. To reiterate, while the United States remains our largest export market, it isn’t necessarily our only option. Other parts of the world are steadily growing their economies, giving our nation’s entrepreneurs many new opportunities to grow their business relationships.
“Our trade is shifting to parts of the world other than the U.S., particularly toward developing economies,” informs Nott, “Emerging markets are therefore playing an increasingly important role in the trade strategies of many companies. Data shows that Canada’s economic reliance on the U.S. in terms of share of exports and GDP has fallen over the last decade…And this trend will only continue to grow.”
As we mentioned in our last blog, an effective e-commerce solution will help you to get started on selling your products worldwide. As you know, Canadian POS Corporation can help you with that! For more information, give us a call at 1-877-748-2884 or email us at info@localhost.