The Great Pause
Toilet paper, face masks and disinfectant wipes. These weren’t the first items that came to mind for most online retailers at the start of the year. But they’ve become the defining shopping categories of 2020. From Wall Street to Main Street, every facet of the world's economies has been turned on its head. It’s a time that’s given all of us pause.
While no one can be certain how all this will play out, there are some key trends to keep an eye on as commerce resumes and starts around the globe, and the world discovers its “new normal.”
What’s still true
Even after the threat of COVID-19 subsides, the potential for external shocks like geopolitical events, trade wars, even new pandemics may continue to impact economies – and potentially your business. Pursuing a cross-border strategy now can put you in a stronger position to respond, both to the near-term developments we foresee and the longer-term events we can’t.
How a cross-border strategy can be a source of strength
As one of the world’s largest online payments platforms, PayPal has seen the power of a smart cross-border approach in transforming small online businesses into vibrant international merchants.
In times of economic uncertainty, a cross-border strategy can prepare you to take advantage of favourable conditions in specific countries and regions, making your business more resilient. For businesses seeking to expand their footprint internationally, this report will help you understand some of the most relevant seasonal, cultural, behavioural and technological differences that could give you an edge when breaking into new, unfamiliar markets.
PayPal has seen the way cross-border sales can give businesses like yours more flexibility, by becoming less reliant on local markets. But PayPal also knows that entering new markets can be intimidating. If you’re ready for a one-on-one discussion about your cross-border goals, please provide your contact details and PayPal will get in touch.