Businesses need to consider global markets to succeed.

November 30th, 2010 No Comments

Yesterday’s Cyber Monday was bigger in China than in the United States. According to a press release from eCoupons.com, 47% of American 18-49 year olds plan on making a purchase online, compared to 60% of Chinese 18-49 year olds.

If you are a retailer, why only sell in the United States when the emerging markets want to buy? As the American economy remains stuck in a tailspin, other countries, like India and China, are eager to buy.

For the past 6.5 years, I have lived in Israel. The domestic market is small – the population is less than New Jersey – so businesses must look abroad to succeed. The flight to China takes the same time as the flight to New York, so  businesses can take whatever market they want. While in the past it was prohibitively expensive, with the low cost of shipping and logistics, e-commerce, and the fact that much commerce takes place digitally and not through the postal service, considering global markets should be an important question in your business strategy.

What markets do you work in?

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