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Paris summer Games 2024: how retailers can prepare for the demand

Major global sporting events often prompt shifts in consumer spending due to an increased demand for affiliated products or merchandise. Indeed, shoppers feel inspired to take up new hobbies based on whichever sporting events are televised, leading to a surge in online searches and interest in sports-related clothing and equipment. 

With the Paris Summer Games on the horizon, online retailers need to be prepared for a sudden spike in activity and increased product demand. To maximise the sales opportunities that the Games could offer, retailers should start preparations early and review their international sales strategies.

The significance of the Summer Games

The buzz of global sports events is often reflected in shopping habits. Plus, the widespread use of social media can cause trends to go viral which can also lead to spikes in searches and sales. Throughout the Tokyo Games in 2021, there was an increase in online search terms, compared to the years before, by consumers who grew a sudden interest in purchasing torch replicas and t-shirts. 

Similarly, the sale of sports items during the Rio 2016 Games skyrocketed as boxing topped the list of the UK’s favourite sports. The London 2012 Games boosted the UK sports market by approximately 10 percent, with much of the economic growth taking place within the first week of the event.

Worldwide sporting events are therefore significant for retailers because they often lead to increased consumer spending in international markets as well as domestic ones. For example, a UK-based retailer selling specialist sports products may discover more interest in their products overseas compared to their domestic market if international teams are performing well in that sport. 

Research conducted by social enterprise Better identified the UK’s most popular sports at the 2021 Olympic games based on online search terms. Outside of the classic ‘big four’ sports – rugby, boxing, football and golf – Better found that there was an average of 165,000 searches for mountain biking and skateboarding, 110,000 for fencing and 22,200 for volleyball. This is a potential audience for sellers to tap into.

Conversely, UK-based sellers should be looking to take advantage of the demand for items in other markets. For example, YouGov conducted a study ahead of the 2021 Tokyo Games, which identified Americans’ favourite sports and what they were more inclined to watch on TV. It found 43 percent of respondents listed swimming as their favourite event, followed by rhythmic gymnastics (39 percent), diving (36 percent) and volleyball (20 percent). 

So, UK retailers that sell swimming, gymnastic, diving and volleyball equipment should make sure that they are selling and marketing to the US. By doing so, they will be able to adapt to market trends where their national team’s performance spikes interest in related products. 

The challenges of cross-border sales

Expanding reach to a global scale can be a highly effective defence against falling local demand, so it should be a key part of retailers’ growth strategies. However, there are a number of hurdles that retailers need to consider if they are looking to sell their products internationally. 

For example, retailers who wish to sell overseas from their own website, will need to alter the languages and currencies of each product landing page so that they are appropriate for each new market they wish to sell to. This includes deciding whether to continually update prices when exchange rates shift. 

It is important that all language adjustments are uniform across the retailer’s website; from the onsite search engines and product categories to the site-wide banners and even individual product pages. 

There will be continuous updates as sellers will need to repeat this process every time a new product is added to their site. This also applies to advertising campaigns, all of which need to be localised for each region and direct the customer to the appropriate website. 

Even then, once the website’s content is updated for each region, the checkout process needs to be able to manage intercontinental web traffic. Of course, there are numerous tools and third parties which help with sellers with this, but this is still no easy feat. It will require a significant amount of time and investment and can prove costly when executed poorly.

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Never Discount Seasonal Products Again

Never Discount Seasonal Products Again

For retailers of seasonal products, the end-of-season sale is a familiar, but often disheartening, ritual. Slashing prices clears stock, but profits shrink alongside the inventory. However, there is a smarter way: embrace the markets about to enter your product’s prime season.

Why crossborder holds the secret

Crossborder selling unlocks a treasure chest of benefits. For a UK retailer selling your inventory of winter coats to Australia, as your winter season ends and theirs is just beginning, allows you to avoid deep discounts and keep your profit margins. Most importantly, by selling at peak season, in both northern and southern hemispheres, you can position your brand as on trend, and avoid the loss of brand value through discounting. 

Australian Google search trends for “sunglasses” in the past 5 years

Categories which perform well

Finding the best products is a strategic game, but as a rule of thumb anything seasonal in nature works, from apparel & accessories to home & garden. 

Seasonal Apparel and Accessories:

  • Winter Gear: Ski jackets, boots, gloves, thermals 
  • Summer Clothing: Swimwear, sandals, sunglasses 

Seasonal Event Products:

  • Sporting Equipment: Baseball gear before spring training, tennis equipment before major tournaments
  • Festival Gear: Raincoats and boots for rainy season festivals, ponchos and sunscreen for summer festivals

Other Seasonal Products:

  • Gardening Supplies: Seeds, fertilisers, tools (dependent on planting times in different regions)
  • Home Improvement: Outdoor furniture, grills
  • Seasonal Appliances: Dehumidifiers before rainy seasons, space heaters before cold seasons

Logistics is more important than ever

Logistics still needs consideration, especially for geographically distant markets. It’s important to set clear expectations to your crossborder customers for delivery times and costs. It is vital that you partner with reputable local distributors to ensure smooth fulfilment and don’t lose the goodwill developed with your new audience. 

Crossborder selling is a win-win. Retailers avoid the discount trap and generate healthy profits. Consumers benefit by getting more choice in the products they need. 

About Fruugo

The Fruugo marketplace lets you access up to 45 countries across the globe with one product feed in your local language. Fruugo translates this to 28 local languages for 50m visitors per month, and funds all localised digital marketing to your Fruugo product pages – all on a no sale, no fee basis. Why wouldn’t you try it today? 

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Expanding your reach: how Fruugo empowers sellers in the global marketplace

In today’s dynamic retail landscape, staying ahead means embracing the interconnected nature of our world and seizing the opportunities presented by cross-border consumer trends. At Fruugo, we understand the importance of agility, availability, and diversification for sellers looking to expand their reach and boost their sales on a global scale.

Adapting to trends:

Consumer demands evolve rapidly, often influenced by global events and cultural phenomena. For instance, the surge in demand for health and hygiene products during the pandemic showcased the significance of quickly adapting to changing market needs.

Similarly, the popular trends such as TV series can catapult certain products into the spotlight, demonstrating the immense potential for sellers who can swiftly respond to trending items.

Cross-border selling made simple:

Navigating cross-border commerce can be daunting, but with the right platform, it becomes accessible and efficient. Fruugo serves as a gateway for sellers to reach customers worldwide, handling complexities such as tax calculation, payment processing, fraud prevention, and currency conversion.

Our marketplace not only facilitates transactions but also actively markets products to diverse global audiences, simplifying the selling process for retailers.

Agility and availability

In today’s post-pandemic era, consumers are more discerning and tech-savvy than ever. They demand seamless shopping experiences and readily explore alternative suppliers to fulfil their needs. Therefore, sellers must prioritise agility and availability, ensuring that their inventory is synchronised with search engines to capitalise on every sales opportunity.

The merits of diversification

The ongoing economic challenges faced by retailers underscore the importance of diversifying sales channels. Relying solely on one platform can be risky, hindering a seller’s ability to tap into new markets and mitigate potential losses.

By listing their products on multiple marketplaces like Fruugo, sellers enhance their digital presence, maximise sales potential, and reduce dependence on any single platform.

At Fruugo, we empower sellers to thrive in the ever-evolving global marketplace. By leveraging our platform, retailers can connect with customers worldwide, capitalise on emerging trends, and expand their reach with confidence. Join us in embracing the future of cross-border ecommerce and unlock new opportunities for growth and success.

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Unlocking international growth through payment diversity: a retailer’s guide

In the ever-evolving landscape of e-commerce, payment methods stand as a critical cornerstone shaping the way consumers engage with online shopping. As technology advances and consumer expectations rise, retailers must adapt their payment offerings to meet the diverse preferences of their global customer base.

The rise of payment diversity

While traditional card payments remain popular, the competitive fintech industry continually introduces innovative payment solutions. Examining data from Fruugo, a clear trend emerges—consumers worldwide are gravitating towards payment methods that prioritise convenience and security. PayPal, in particular, is a preferred option in various markets, including Luxembourg, Australia, Canada, Germany, Italy, Great Britain, and the United States. The ease of storing card details and the trusted brand reputation of PayPal significantly enhance the overall customer experience, reducing checkout times and mitigating security concerns.

Moreover, regional preferences shape payment landscapes, with consumers in different areas showing distinct preferences. For instance, in Portugal, the Multibanco interbank network reigns supreme, while Dutch consumers favour the iDEAL e-commerce payment system. Additionally, ‘buy now, pay later’ options like Klarna have gained traction, offering consumers flexible financing solutions, particularly popular in the Nordic region, Austria, and Switzerland.

For online retailers, offering a diverse range of payment methods is imperative. Failure to do so risks losing potential customers who prefer alternative payment options. With consumer expectations centred on simplicity and security, providing multiple secure payment methods not only retains existing customers, but also attracts new international audiences.

Implementing multiple payment options

Modern payment platforms like Ayden facilitate the integration of new payment solutions, but retailers must navigate cross-border complexities. This includes adapting to local currencies, languages, marketing strategies, and compliance requirements. For independent businesses, these challenges can limit international growth potential.

However, leveraging online marketplaces specialising in cross-border trading like Fruugo alleviates these complications. We offer comprehensive services, including content translation, digital marketing, currency conversion, and localised customer support. By utilising specialised marketplaces, retailers can access a global customer base seamlessly, without the need for extensive website modifications.

Optimising payment strategies for growth

To achieve sustainable growth, retailers must prioritise payment method optimisation and streamline the checkout process, especially in cross-border e-commerce. Marketplaces dedicated to international selling invest significantly in localising payments for global shoppers, offering a competitive edge to retailers expanding internationally.

For retailers managing standalone websites, staying abreast of localised payment trends is essential to remain competitive in the global marketplace.

Payment diversity is paramount for retailers seeking international growth. By embracing a variety of payment options and leveraging specialised marketplaces, retailers can enhance customer satisfaction, expand their global reach, and achieve sustainable growth in the dynamic world of e-commerce.

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Transforming Retail in the Digital Era

The Rise of Marketplaces: Transforming Retail in the Digital Era

Over the past decade, the retail sector has undergone a significant digital transformation, reshaping consumers’ shopping habits and priorities. With easy access to a global market, consumers now prioritise factors such as price, availability, and delivery speed over brand loyalty, engaging in what can be described as ‘atomic’ level shopping, driven by specific needs and facilitated by search engines.

This shift has been further accelerated by the emergence of marketplaces, leading numerous retailers to adopt this model. Established names like B&Q, Next, Decathlon, and Debenhams have launched their own marketplaces in recent years, and the trend will continue.

In an increasingly challenging retail landscape, market unpredictability continues to impact performance, urging companies to innovate and adapt. The danger of relying solely on one digital platform or market route has become apparent, prompting retailers to diversify channels to reach global audiences and reduce dependency risks.

Embracing the marketplace model

Search-driven shopping underscores the importance of building customer-centric e-commerce websites. Launching their own marketplaces allows retailers to enhance search engine optimisation and traffic generation by offering a diverse range of brands via third parties. Established retailers utilise their marketplaces to grow their audience, increase brand awareness, and drive sales of their own brand products alongside third-party offerings.

However, while adopting the marketplace model is crucial for retailers, maintaining vendor neutrality is paramount. Certain marketplaces have faced criticism for undercutting sellers and biased promotional content. This highlights the importance of supporting sellers in driving sales and reaching new audiences on a risk-free basis.

Diversifying sales channels

Large retailers listing their own products on ‘competing’ marketplaces may seem counterintuitive, but it’s a strategic move to drive traffic and increase sales. By leveraging multiple marketplaces, particularly cross-border marketplaces like Fruugo, retailers expand their digital presence, enhance brand awareness, and access new audiences globally.

The marketplace model represents a pivotal evolution in retail, benefiting marketplaces, brands and sellers. Sellers gain access to new audiences, while marketplaces handle purchasing, delivery, and even support marketing strategies, reducing costs and complexities associated with traditional online selling. Partnering with vendor-neutral marketplaces is essential for supporting cross-border strategies and driving growth in the digital era.

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