Dr. Glenn Gearhart CEO of World Market Vendor Services, Inc. provides News and Commentary

Are You There Yet? Why Not Europe?

Part III - World Market Brings You Europe!

In my six part marketing series: “World Market Brings You,” I always reiterate Retail Rule Three: “The world needs your product- get it to them!”

Second, I remind everyone there are seven continents - Africa, Antarctica, Asia, Europe, North America, Oceania and South America. Other than Antarctica, each represents a unique consumer marketplace that, with the help of World Market and payment by PinPay, is awaiting the arrival of your products. Are you there yet? We make it simple, Why NOT?


Expanding Markets
Review these facts, do a little market research, and then try to convince me you should not be selling your products in Europe! Online shopping has become commonplace in such countries as the United Kingdom, Germany and France, and will grow rapidly in the next few years in southern European markets.

Product Presentation Delivery and Online Sales: Forrester Research reports, European e-commerce will grow 12% annually through 2016. While eCommerce sales will grow at 11% per year in the U.K. and 12% in Germany through 2016, Forrester predicts even faster growth in countries where consumers have been slower to embrace online shopping. For instance, the report projects a 19% annual growth rate for e-commerce in Spain and 18% for Italy. 1

As you would expect from the diverse range in the standard of living between many European continent countries, studies show wide variation in the share of e-commerce sales and purchases among countries.

These values offer insight as to the general growing acceptance of eCommerce by country but the actual number which would apply to your business can be quite different. Factors such as the type and price of the products you offer, and the quality of your customer service will have a major impact on your market share of sales.2

European public access to eCommerce shopping is almost everywhere. The results of the Broadband Coverage in Europe 2011 report show that the European Union already has standard broadband available for the great majority of EU homes, 95.7%, over 200 million altogether. It is also now half-way towards the goal of 30Mbps access for all by 2020. Over 50% of EU homes – 105 million - already had NGA broadband available to them. The results quoted here are for the countries in the European continent. 3

Economic Status: It is reported the rate of growth of online retailing (eCommerce sales) in the UK and elsewhere in Europe to be slightly lower than 2011, reflecting the continued economic slowdown. But with European expected online retail growth of 16.1% this year, it is still a cracking pace.4

By mid-year 2012, comScore reported E-commerce spending increased by at least 16.0% year over year in the product categories of: computer hardware; consumer electronics; flowers, greeting cards, gifts, apparel and accessories.5

Even though the 2012 second quarter’s growth rate didn’t match the first quarter’s 16.6% year-over-year gain, it is still impressive. In fact, comScore noted it is nearly four times higher than the growth in overall consumer spending.5

Question: If annual sales are growing every year at a rate of 12% or 16%, can you see how there is room for your products to slip into the market place and gain traction, gain market share? You need to add the European continent to your online sales effort.


Continent Core Numbers:
Number of counties: 26 6

Population (2012 est.): 503,824,373 7

Number of Internet users (6/12 est.): 368,021,986 7

Other facts: See by each European continent country in CIA Handbook and other reference sources. 6

Your Objections to European Expansion are:

Accepted and very correct, because of the ongoing European financial crisis a major segment of the lower and middle income consumers do not have large amounts of discretionary income. If they do have capital, they are afraid to spend it. You need to recall Retailer Rule Four: You do not need everyone to buy your products to make it advantageous to sell. This proven rule applies to Europe. Start with a few countries and expand your European market footprint when you are ready. When you are ready, adding a European county to your World Market sales takes about 5 minutes and there are no new fees.

Absolutely true, the residents of the European continent speak many languages, and English in not the official language of many of the European countries. However, World Market does offer online product presentations in 66 languages, and if a buyer has the money and really wants your product, they will find a way to buy it and it will be with online CASH!

Ok, you do not have a warehouse in Europe but you do not need one. There are many shippers that will professionally deliver your products any where in the world, including Europe.


European market
Are you serious, you are concerned no one will want your products? In a continent with 26 countries and a total population of more than 800 million, just try using World Market. If you offer a quality product at a fair price you will find many buyers.

If you have more objections, click on Support Center and submit a ticket to the sales team and they will be happy to assist in finding an acceptable solution.

Do your home work, research the facts. You will find the European continent is an important market and can be a valuable addition to your business growth plans. We are here to help- let’s move on it!



References:

1http://www.internetretailer.com/2012/02/27/european-e-commerce-will-grow-12-annually-through-2016

2http://epp.eurostat.ec.europa.eu/statistics_explained/index.php/E-commerce_statistics

3 ec.europa.eu/information_society/newsroom/cf/item-detail-dae.cfm?item_id=9029

4http://www.retailresearch.org/onlineretailing.php

5http://www.internetretailer.com/2012/08/09/e-commerce-spending-rises-15-q2

6 https://www.cia.gov/library/publications/the-world-factbook/wfbExt/region_eur.html

7 http://www.internetworldstats.com/stats4.htm

http://en.wikipedia.org/wiki/Continent

https://www.cia.gov/library/publications/the-world-factbook/

https://www.cia.gov/library/publications/the-world-factbook/rankorder/rankorderguide.html