Last updated on October 17th, 2016 at 04:30 pm
Is online retail the new gold rush?
The trend is clear; retailers have noticed and are taking action. Investment dollars are shifting from new stores to larger and improved multilingual websites and online stores.
On June 10-13, the IRCE (Internet Retailer Conference + Exhibition) will host an estimated 10,000 attendees, 12 percent more than in 2012. The event will cover themes such as E-Marketing and Global E-Retailing. This is where I think the opportunity is for leveraging a good e-commerce site. Global E-Marketing allows retailers and other businesses to expand globally in a low cost and calculated way.
Creating a multilingual E-commerce site is a fraction of the cost of opening brick and mortar stores in other countries, while opening the market to new products and services. Take Marks & Spencer Plc, who is investing 1 billion pounds in logistics, IT and systems, and has launched a new website. It is targeting a 25 percent increase in international sales in the next 3 years and an increase in foreign profits of 40 percent. The M&S “Bricks and Clicks” strategy is to open stores in high end locations to boost brand awareness and support this with local language websites for online sales.
It used to take tremendous effort, cost and time to create multilingual websites. Technology has helped simplify the process, making it possible to localize large websites without having to replicate the website in every language. Translation Proxy Server technology eliminates most of the expensive and time consuming IT effort required to develop and maintain multiple instances of a website.
If online retail is the new gold rush, Translation Proxy Server technology is the heavy excavator that is making it much easier to mine.