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Cross-border

Top Five Countries For Doing Business in Southeast Asia

If you are a business trying to look for places where you can have your business achieve growth and generate lots and lots of profit, then you might want to consider entering the Southeast Asian market. It became an attractive market to be in after it has witnessed economic growth for the past years and still has a lot of untapped market opportunities waiting to be grabbed. But what are some countries that do well when it comes to business? 

Here are the top five countries you may want to do business with.

Singapore

Who would wanna miss the opportunities behind the “Lion City”? The abundance of skilled workforce and resources, a robust economy, and an attractive tax system, plus a simple and straightforward procedure when starting a business that is fast and easy make it a pot of gold for people looking to start a business within the country. This makes it easy to be a “Zai” in the industry you’ve chosen in no time.

Hong Kong

Another opportunity-packed country at the heart of Asia, Hong Kong can also be a great country to start your entrepreneurial endeavors. As the country offers a plethora of advantages such as an easy incorporation process, a business-friendly environment, and a place where people can speak and understand the English language. This makes it easier to communicate with your target audience and deliver the message your brand is trying to convey.

Malaysia

With a pro-business government and a market-oriented economy, there’s no doubt that Malaysia is a good country to do business with. The country also provides a robust and conducive business environment that promotes and encourages growth, profitability, and healthy competition within businesses of all industries. This makes doing business in Malaysia a profitable country to do business with, as it can get you profits as high as the Petronas Tower.

Taiwan

It is indeed easy to do business in Taiwan, in fact, it ranked 15th out of hundred and ninety economies in the World Bank’s Ease of Doing Business Survey in 2020. It can also serve as a strategic location whenever you have more plans on expanding as it is near some of the world’s biggest economies such as China. And unlike other countries, Taiwan allows foreigners to have full ownership of their companies, without any minimum paid-up capital requirements.

Thailand

Although language barriers can be a problem when doing business in Thailand, the country still offers one of the most promising workforces in the world. This just means that any foreign business can benefit from a large pool of skilled workers to work for their companies. With steady growth, strong exports, and a vibrant economy, there’s no doubt that Thailand can lead your business to success.

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Cross-border

Four Great Benefits of Entering Cross-Border E-Commerce

In the past years, cross-border e-commerce has witnessed significant growth. This is not surprising as this kind of business model has connected buyers and sellers better than ever. Expanding your business internationally might sound ambitious and difficult at the same time, but taking this step can be the path towards achieving your entrepreneurial goals. 

If you are still unconvinced about getting your business on the international scene, then here are four benefits of entering cross-border e-commerce.

Bigger market reach

Cross-border e-commerce has been proven to give businesses of all sizes countless opportunities. One of which is having your already healthy sales volume go higher by tapping some never before seen markets around the world. It also allows you to open your storefront to more untapped markets, exposing your brand to millions of potential customers who haven’t known about your business and what it offers. 

Increased sales and revenue

One of the goals businesses have is to generate profit, and this is one of the many benefits a business can get upon entering cross-border e-commerce. Because by taking your brand in the international scene, you are also positioning yourself into a much larger audience. And having a larger audience means a larger demand for your business to fulfill. 

An all-year-round demand

Businesses that have their operations limited in a certain country often get confined to the same peak and off-season every year. Businesses that engage in cross-border e-commerce on the other hand won’t have any problems with demand as they are operating in different countries, having different peak buying seasons throughout the year. Making each country’s seasonal surges keep your operations going. 

Brand awareness

This is another great advantage of entering the international scene, your business gets to have improved brand awareness. This familiarizes people with your brand and helps them distinguish your business from other competitors. This can lead to an increase in revenue as customers are more likely to buy from familiar brands which they trust compared to unknown ones. 

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Cross-border

4 Greatest Cross-Border E-Commerce Myths When Selling in China

The billion-dollar market of China has been an attractive place for foreign brands for the past decade. It provides opportunities for countless businesses all over the world. And while there are a lot of good things to hear from China’s cross-border e-commerce, there also would be myths and misconceptions about this huge market. 

And here are some to name a few.

Chinese People Won’t Like Foreign Brands

While this is true for some brands, there are also a lot of brands that became successful and huge in China. Foreign names like IKEA, Eurobakery, Starbucks, and even LinkedIn all achieved huge success in China’s market. Because the truth is, Chinese consumers prefer buying foreign brands because they are more high-quality that are worth the money they paid for. #

Local Distributors Are Needed For You To Start Selling

It is often perceived that having this so-called “Distributor Model” as a business strategy is the best and most effective way of bringing your products to your customers. But it isn’t the only way to SELL, as today’s technology allows e-commerce as a market entry strategy to sell your products without the need to look for local distributors. 

A Brick-and-Mortar Store Would Be Required

If you visit China’s biggest malls, you might be seeing physical stores under the names of the world’s biggest brands. And you might think that having a physical presence really is the key, but it isn’t the ONLY key, as there are hundreds of thousands of brands that successfully established a name for themselves just by operating online. 

It Would Always Be Very Complicated

We would be lying if we say that entering the cross-border e-commerce industry is as easy as 1-2-3, but it isn’t as hard as trigonometry either. It still all goes down to the choices you are going to make. But you don’t have to face these complexities because you can look for a helping hand to start your entrepreneurial journey in China. 

And that’s what we, at GLOSKU, do. We help empower e-commerce-based businesses to reach markets in China. So you don’t have to worry ‘bout a thing because we are here to help you. Just click, and we’ll do the legwork for you.

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Beauty

Choosing The Right Product for Your Online Business

Finding the right product for your business might be a challenging job, especially if you are a first-time business owner. Well, you’re not alone. It really is hard coming up with a product that is both in demand and will give you high profits at the same time. A product that makes enough sales to keep the lights on is needed.

But don’t worry, ‘cause here are some tips you can use to come up with the right product.

Identify Customers’ Pain Point
Knowing things about your customers such as their financial limitations, or preferences might be of great help when it comes to formulating a product of your own. Coming up with a product that helps them solve their problems is also a huge factor that influences their buying behavior. There are several pricey products in the market that lacks uniqueness and are of low quality which causes frustration on the part of customers. This makes them look for alternatives that give them what they need and are worth their hard-earned money.

Go With Your Personal Passion

Doing business is not for everyone, it needs a lot of time, effort, and attention. And this is what makes your passion an essential part of coming up with a product. Choosing a niche that is in line with your passion might be risky, but it gives you the advantage of having full knowledge about what you will be selling. Working on something where your passion lies makes everything seem easier. 

Capitalize on Trends

What is IN now? What sells these days? What do the consumers prefer? Recognizing trends at the early stages of your entrepreneurial endeavor can already be a significant win for you and your business. This allows you to carve out your place and establish a name for yourself in the world of business. 

Look for Products with High-Profit Margin

There are factors you may want to consider first before coming up with a product, and some of them are the cost of production, promotion cost, and shipping costs. These things should be taken into consideration before finalizing what product your business will be offering. Sure that when these are carefully planned and researched, then you’ll be expecting high returns and profit. 

Choosing the right product can be a huge contributing factor to the success of your business. And this is what makes it an essential part of establishing a business, regardless if it is online or not. 

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Cross-border

Things You Should Know Before Entering the World of E-Commerce

Starting your own e-commerce business can be an exciting thing to do, reaching larger customer bases,  new opportunities, and a lot more things to discover. But as much as it is exciting, having your own e-commerce business can also be a challenging path to take. So before starting one, make sure to know the following things before you enter the world of e-commerce.

Expect Tough Competition 

There are an estimated 12 to 24 million online businesses and shops around the world, and there are still a lot more created day by day. The numbers alone are a challenge already but still, showing what your product and business are capable of will surely make you stand out from the rest. Making the competition more exciting.  

Research is the Key! 

Every business regardless of its nature, should take advantage of modern technology and learn about things that would help the business grow. Knowing what to sell, where to sell them, and whom you should sell them to are some vital information to increase your chances of being a successful e-commerce business.

Invest in Marketing

Making potential customers aware of your brand is one of the most important factors that urge them to buy and patronize your products. Pricing, product management, and advertising such as making interesting content or creating visuals that capture the eye. Marketing also is considered one of the most important aspects of the business as it deals with attracting people and is a key to boosting brand awareness. 

Take Your Time 

Rushing in to start your own e-commerce business might result in missteps. By rushing through establishing a business, you might find it hard to see if something is good or bad, or if it will contribute to the growth of your business. There are so many challenges that you might face along the way, and it’s best to know them from others’ mistakes rather than experiencing them by yourself.

Reach Out for a Helping Hand

Like what’s stated at the beginning, starting your own e-commerce business can be an exciting yet challenging thing to do, so it’s understandable to be overwhelmed with the unfamiliarity of the market. But you don’t have to worry about that as there are various e-commerce solution platforms out there that could help you bring your business to your target market. 

This is what we do at GLOSKU, we help businesses bring their brands to the second largest economy in the world, the land of unending business opportunities and home to billions of people looking for new products to patronize, and that is China.  Just do the clicks and we’ll do all the leg work. 

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Cross-border

Three of the Greatest Myths When Entering the Chinese Market

China is a place for businesses that are looking for opportunities to earn, be known, and grow. But there are just some things that make this dream seem scary for some, and we’ll be falsifying those things for you. 

Here are three myths about entering the Chinese market:

The greatest hindrance to your entry is language 

When planning to start your entrepreneurial endeavor in one of the world’s largest economies, it is expected that having a decent conversation with the locals might be a tough job, and give you a hard time in doing business-related talks. But this is not as tough as people perceived it to be as there are things you can do to go around this barrier, as there are English-speaking people and even applications that can help you get through a decent conversation with the locals. 

They don’t like doing it with western brands

Contrary to what a lot of people believe in, Chinese people have no problems doing business with western brands. Instead, they are having problems with attitudes such as rudeness, tactlessness, and insensitive to their culture and traditions. They have this extreme cancellation culture on brands that disrespect them. So as long as you know your limitations, respect their culture, and went there for the sole purpose of doing business, then you are welcome to enter the market without having any problems. 

The Chinese market is only for companies with the biggest names

China does not just make opportunities available for those who are already in the spotlight, it also is an avenue for small businesses trying to shoot their shot and aspire for greater things not just for themselves but for their businesses in general. In fact, operational costs such as manufacturing expenses are a lot cheaper in China, which makes it a more starter-friendly country for businesses trying to enter the market.

There are a lot of myths and misconceptions when it comes to entering the Chinese market, but one this is for sure. All these myths and misconceptions won’t stop the heart and determination of an entrepreneur from entering China or any other country that has a lot of things and opportunities to offer.

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Beauty

The Power of Diversity and Inclusion in the DTC Beauty Space

Sell, sell and sell. If it’s not obvious enough, making a sale of either a service or a product is what companies need to do to stay in business.  Change is constant and when the pandemic hit, the usual brick-and-mortar stores had to step back from the limelight. Online was the buzzword. The beauty industry had to adapt and one of the most popular ways it did was via Direct to Customer (DTC) selling.  

Direct to Consumer beauty brands are nothing new. One notable example is Fenty Beauty which made Rihanna not just one of the most popular pop icons of our time but also the owner of one of the most sought-after and successful beauty brands.  Like any other business model, companies need to set themselves apart. There are a ton of categories that could be considered but, in this article, we’ll be covering why diversity and inclusion should be an itinerary for anyone wanting to succeed in the beauty DTC space.

What do they mean?

Before we go any deeper, we must ensure we understand what they mean.

The simplest way to remember them is that Diversity refers to traits and characteristics that differentiate a person from another while Inclusion refers to a sense of behaviors and social norms that makes one feel welcome.  2 very important things to the target audience – The Gen Zs and Gen Ys.

The Customer

Gen Zs and Gen Ys make up most of the target audience. It has been confirmed that Gen Zs are the decision-makers regarding purchases while Gen Ys tend to listen more to recommendations. Gen Zs define the trend. They want to be part of something and be unique enough to stand out. This is why DTCs are popular because they are able to provide what Gen Zs need the most, attention.

Diversity and Inclusion

The main advantage of a DTC approach is that the sellers get to know the customer firsthand. There is no middleman in between and thus a relationship is easier to form as they sell directly to the customer.

In a 2016 survey, 70% of Black women confirmed that big-name beauty product companies are not meeting their needs. Though it is changing, for a long period of time, the majority of sold cosmetic shades for example are that of the lighter type. Diversity has been in the spotlight for some time now and it would be a waste for Beauty companies to neglect it.

Since DTCs can listen to customer feedback more effectively they are able to fill this gap much sooner. One fine example is MDM Flow. A make-up company that was built by Florence Adepoju saw how limited the options for dark-skinned women such as herself are while working on a major beauty brand’s makeup counter. She was able to start her business by the simple fact that she listened.

DTCs also benefit from a close-knit connection with customers because it fosters brand loyalty. Remember how Gen Zs yearn to be part of something? DTCs can fill this need by building a community of people who enjoy their brand. Beauty companies should also be segmenting consumers holistically by interests, style, and location demographics. The best way to keep someone interested in something is to make sure he is not alone. Inclusivity is key 

TL: DR

Inclusion and Diversity are in. If you want to successfully build your business, make sure you take notes.

You wouldn’t want to be left behind, would you?

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Beauty

Sustainability & Affordable Price Point: The Ultimate DTC Beauty Brand Concoction Powered by the Gen Z

Gen-Z consumers have higher asks from brands in general. It is no longer enough that a product or service works well for it is now also vital that the brands they support are both civically & socially responsible, eco-friendly, both inclusive, and diverse, just to name a few. 

It is also for these reasons that DTC brands are being driven by this generation. Because the direct-to-consumer business model allows its customers to build relationships directly with the brands, the customers are being given the opportunity to get a very close look at the brands’ operations, call out what they don’t like, and applaud what they love on social media. 

Sustainability is Key for the Gen Z

In April 2021, Forbes Magazine labeled Generation Z as the sustainable generation. It is the generation where 73% are willing to shell out more cash to purchase products that are sustainable. 

As the “inheritors of the Earth”, it makes a lot of sense why Gen Zs are very concerned about the environment. Adding to the fact that the oldest of their generation has turned 25 this year, Gen Zs are now emerging into young adults who have started to contribute to the workforce and the economy all the while carrying with them their commitment to sustainability– their choices to cut down on consumption, reducing their carbon footprint, their support to small and local businesses, their pride in thrifting, among other decisions to put the planet first like no other older generations every did. 

At this point, it only makes sense that brands must make their moves to shift to the sustainability route if they haven’t yet. Aside from the fact that it’s a wise move to take in order to stay relevant and profitable in the years to come, but also because the Gen Zs have also shown to influence not just their generation but even the older ones. As a result of Gen Z’s influence over their Gen X parents on the issue of sustainability, Gen X consumers’ preference to shop for sustainable brands increased by 24 percent, and their willingness to pay more for sustainable products increased by 32% percent since 2019.  

Furthermore, as of this writing, a research conducted by First Insight and the Baker Retailing Center at the Wharton School of the University of Pennsylvania shows that nearly 90% of Gen X consumers said that they would be willing to spend 10 percent extra or more for sustainable products, compared to just over 42% two years ago.

The Race in Offering Affordable Price Points

Gen Zs are becoming known to be the faster ones to acclimate and adjust to situations presented to them. Also known as the generation to quickly learn from the past mistakes of previous generations, they are much wiser when it comes to their spending habits. 

Gen Zs witnessed their Gen X parents struggle with the Great Recession and are still seeing the Millenials work very hard to pay off their student loans. With both of these in mind, the Gen Zs perception of money has been shaped. 

While previously mentioned that Gen Zs are willing to pay more for sustainable products, it does not mean that they are willing to spend a lot of money on things just because. Their requirements for sustainability are heavily charged on the fact that they want to get their money’s worth. More than just getting their desired function of a product or service, the justification of their purchases also encompasses the values they deeply care about such as the impact of the brands they support on nature and other people’s well-being. 

These factors in mind pose the challenge of offering sustainable products at affordable price points. 

Emerging DTC beauty brands are now starting to circulate in the eCommerce market and the consumers are welcoming them with incredible hype case in point is the beauty brand FieldTrip by Edgewell which boasts about their luxury formulation at an affordable price point. 

Edgewell has only launched the brand this early this month and everyone in the beauty space has already been raving about it. 

Is it really that difficult to be sustainable and affordable at the same time?

Now that a couple of brands are causing a major disruption in the beauty industry, time can only tell if the rest will follow suit. As of this writing, one of the most popular affordable beauty brands The Ordinary by Estee Lauder has always been transparent that while they are very affordable, they are still not considered sustainable but they have ongoing initiatives that are geared towards becoming a sustainable brand. 

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Beauty

The Key Opportunities for DTC brands in the Live Streaming Commerce

DTC, also known as D2C, is short for Direct-To-Consumer eCommerce, where merchants can sell their products online directly to consumers. The DTC business model first emerged in the 2010s but has continued to gain popularity among today’s consumers who appreciate the advantages of buying items directly from brands, specifically, the totality of experience they receive from the authentic connection built between them and the brands.

With the influx of competition, fueled by the pandemic where a lot of people were forced to be entrepreneurs, there have been really high standards placed by the consumers on the brands they choose to give attention to, and there lies the need for brands to offer the most authentic, one-of-a-kind experience designed to produce customer-delight.

And this is where the DTC model shines brightest- a space where there are no middlemen or retail stores that go between the relationship of the brand itself and its consumers, just exactly how consumers today want it.

Why is Live Streaming Commerce a Huge Opportunity for DTC Brands? 

This business model carries the DTC trifecta – social media, influencers, and online shopping making it the most logical next step for DTCs. It also fills the gap that seems to be the missing piece people crave from retail shopping: the human connection it offers. 

With live-streaming commerce, the buyers can shop online via the platform of their choice, with the influencers they support, straight from the brands they love. It’s been the rave in China, the biggest e-commerce marketplace including live streaming commerce, where netizens enjoy live online shopping, where their favorite influencers-turned-celebrities answer all their inquiries about the items while entertaining them both at the same time.

What does Live Streaming Commerce Look Like Today?

China, the e-commerce marketplace that international brands continue to tap but it’s so vast the marketplace only keeps on getting bigger, earns an estimated $6 billion annually from live streaming eCommerce alone according to Forbes. 

The rest of the world, on the other hand, particularly the West, has slowly but surely been penetrating the live-streaming market. They may be a couple of years behind their eastern counterpart but they are getting there. International brands like Tommy Hilfiger for example recently extended their live-streaming efforts in the US and Europe where 1,300 hoodies were sold in 2 minutes. The biggest western eCommerce companies such as Amazon, and Google making plans to make YouTube an integrated e-commerce destination, Walmart, to name a few has been making huge investments gearing toward the relatively new business model. 

A Call for Early-Adapters 

The best time to embark on the live-streaming eCommerce ship was yesterday but today would be a pretty solid business move too. As DTC brands in general pay very close attention to their relationships with their consumers, the enhanced engagement that live streaming strengthens this relationship even further. It’s an effective stage to showcase and sell your products in real-time, with the help of real-time feedback from your Key Opinion Leaders (KOLs) and returning customers present and watching the live stream.