UK online retail exports are set to reach £60 billion by 2018. Reaching this international market has never been easier thanks to online marketplaces. By selling on Amazon, eBay or one of the more than 400 marketplace alternatives that you can choose from, you have got access to millions of buyers around the world.
However, every opportunity for growth comes with its challenges. For retailers selling on international marketplaces, some of these challenges are more obvious than others.
In this step-by-step guide we’ll examine the main foreign currency challenges related to cross-border trade. We’ll also provide insight into how currency directly affects your sales and profits and – most importantly – some practical advice on how you can avoid losing out by using some readily available tools and services.
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Making the most of online marketplaces
The foreign exchange effect
Buying – The importing impact
Pricing – Are you pricing for success?
Receiving – From “buy” to the bank: How foreign currency sales work
Currency tools to help take control of your international transactions