E-Commerce Guidance

The digital economy has created unprecedented opportunities for SMEs to enter global markets, leading to remarkable developments in recent years. Data reports indicate that SMEs utilizing online platforms are over five times more likely to export than those in traditional economies. This emerging trend is also benefiting small businesses and entrepreneurs in developing economies, where e-commerce is providing important new opportunities for economic development. To unleash a new era of "inclusive trade" where all companies can benefit from equal access to the global trading system, it is essential to have appropriate global policies in place. However, trade policies must keep pace with 21st Century trade. QANAQ provides consultancy services to structure your company in compliance with e-commerce regulations in the countries where you want to establish e-commerce operations. The boundaries between offline and online are being erased by technological trends that enhance the consumer experience and knowledge in various domains, with chatbots, personalized offers, and drone deliveries becoming increasingly favored. Less developed and developing countries with increasing young populations and low internet and e-commerce penetration are becoming important markets. The proliferation of inexpensive smartphones is a critical factor contributing to the surge in smartphone penetration, and consequently, mobile commerce. The shift to omni-channel is being primarily driven by the increase of mobile use. Therefore, traditional retailers must also invest in online commerce and digitalization to ensure long-term success. E-commerce has presented new opportunities for small-scale enterprises to reach out to new customers and markets. The smooth and efficient crossing of information across borders, free from technical barriers or anti-competitive bottlenecks, is essential for the success and sustainability of e-commerce. However, national rules and regulations that are fragmented and inconsistent regarding data and the availability of online information are increasingly becoming a significant obstacle to international trade. Global regulations that aim to promote a secure, open, and reliable internet are needed to reduce transaction costs for businesses engaged in online trade. These regulations may include commitments to cross-border consumer protection standards and the implementation of rules that encourage technological innovation, enhancing online security and dependability. Establishing new multilateral provisions that ensure the unrestricted flow of data across borders is especially crucial in accelerating the growth of e-commerce. It is apparent that companies experiencing growth in e-commerce are adapting at a much faster pace in their e-export transactions and quickly increasing their export figures. For a seller who has learned to gain customer trust in e-commerce and gained experience in this regard, managing export sales in foreign markets and increasing revenue is easier. Although customers in different countries have varying trust criteria, producers who understand their business and have the appropriate sales and marketing channels, as well as logistics department support, can generate the desired revenue from foreign sales. Payment and logistics costs are among the most significant concerns for sellers in sales originating from abroad. However, developments in the banking sector have expedited the international integration of numerous banks and led to an increase in capital companies that exclusively guarantee payments on e-commerce platforms and provide intermediary services. While managing payment and refund processes in international e-commerce may appear more challenging than local sales, we observe a significant decrease in the error percentage for companies that increase the employment of qualified technical personnel with the right strategy and institutionalization plan. For companies targeting e-export, working with a local partner in some countries is extremely important. Especially as the distance from the export country to the import country increases, the need for the exporter to have a local firm manage the logistics and supply chain in the importing country increases. In addition, the presence of a reliable local partner is necessary for the language used by the end customer in the target country, legal restrictions and obligations, customs barriers, and other situations.