As we all know, cross-border e-commerce faces foreign consumers, so understanding the consumption habits and psychology of consumer groups plays a vital role in the development of products and product operations.
So what are the characteristics of foreign consumer markets? What are the typical differences between regions? If you are interested, let’s take a look.
1. North American market
The North American market can be said to be the most important overseas market for domestic cross-border merchants at present, not only because the United States is one of the largest e-commerce markets in the world, with a large market capacity and strong consumption power. In addition, people in North America have no habit of saving and have a very typical habit of pre-consumption.
At the same time, due to geographical and historical reasons, the United States has immigrants from all over the world and has different customs and habits in different places, so it is very tolerant of various products on the market. As long as the product quality is up to standard, they are usually willing to consume. For various reasons, North America has become the world’s largest consumer market.
2. British market
Britain is an important trading country in the world. People in this region are very gentlemanly, pay attention to etiquette and are also very planned, so they pay great attention to details in products. Compared with the cost performance of products, they will pursue the quality and usability of products more.
At the same time, the e-commerce trade in the UK has developed rapidly in recent years. The number of online orders and the total amount of payment have been constantly breaking records. According to incomplete statistics, about 80% of netizens have made multiple online shopping behaviors, so doing business in the UK market is often more effective after understanding the history and customs of the British.
3. South American market
South America is an emerging market for cross-border e-commerce in recent years. The most important point is that there are more than a dozen countries and regions in the South American market, and the population of about 570 million is a very large consumer market. And with the popularization of the Internet this year, the consumption capacity of many young people on the Internet has also increased day by day.
The bad thing is that there are still many deficiencies in the development of logistics in South America. Therefore, when facing these areas with weak infrastructure, merchants must analyze specific problems in detail, so as to enjoy the dividends of this potential market.
4. Indian market
Another typical market is India. India’s large population alone is enough to attract the attention of many merchants. Although India is currently in the early stages of e-commerce, it is developing very fast. With the popularization of smart phones, many Indian people’s love for Internet shopping has also increased. Domestic books, affordable clothing, shoes and hats, and cosmetics are very popular among local people.