Are you experiencing a sales slump in your online store? An effective strategy to overcome this is through international expansion. In particular, expanding to the Canadian market via the Shopify platform could be your solution. Canada represents a $22 billion e-commerce market growing at double digit rates annually, with millions of eager customers waiting to discover your products.
Let’s delve into how expanding to Canada can provide a lifeline for businesses facing sales slumps.
Access a Large, New Market: Tap into Canada’s Potential with Shopify
Expanding your Shopify online store to Canada enables your business to access a large, lucrative market right next door. There are over 37 million Canadians looking for great products online. Shopify makes it easy to optimize the shopping experience for your Canadian customers. Enable them to view pricing in Canadian dollars, pay domestic shipping rates, and check out seamlessly. Consider offering promotions like free shipping, discounts, or a free trial exclusively for your new Canadian customers to incentivize those first purchases.
Diversification: Mitigate Risk with Canada
International expansion into stable, advanced markets like Canada helps diversify your revenue streams and reduce dependence on a single market. This diversification can shield your business from the ups and downs of any one market. Shopify provides a unified platform to easily manage and connect with a global customer base. You can use Shopify’s built-in functionality to customize Canadian pricing, taxes, duties, and shipping rates to maximize cross-border sales.
Capitalize on Canada’s Unique Opportunities
Canadians have their own preferences and buying behaviors worth catering to. For example, Canada has two official languages, with French-speaking customers looking for content and customer service in French. Take time to research product categories, brand preferences, and consumer trends specific to the Canadian market. Tailoring your offerings and marketing to Canadians can unlock untapped market potential.
Differentiate Yourself in Canada
With Shopify, you can highlight your unique value proposition to stand out from local Canadian and international competitors. Leverage your core strengths, customize products for Canadians, and tailor your brand messaging. Localizing your Shopify online store for Canadian shoppers can revitalize sales by positioning your business as a differentiated brand tailored just for them.
Achieve Greater Economies of Scale
Expanding to Canada with Shopify often allows merchants to achieve greater economies of scale. Selling to more Canadian customers allows you to grow your business and optimize operations. Producing, purchasing, and shipping at larger quantities can lower your costs per unit. Marketing to Canadian customers also means your advertising spend goes further. These cost efficiencies boost profit margins and provide a path out of sales slumps.
BorderBuddy: Your Trusted Canadian E-commerce Partner
International expansion to Canada through the BorderBuddy for Shopify app offers merchants an array of benefits for overcoming sales slumps. The BorderBuddy App manages customs, duties, taxes and shipping to Canada so that both merchants and customers have 100% transparency in shipping.
Partner with BorderBuddy and Shopify to conquer Canadian e-commerce. Reach out today or visit the Shopify App Store to begin your Canadian expansion! Give us a call or go to the Shopify App store.