Make sure to benchmark, compare with existing competitors and build roadmaps. A great framework for a preliminary market analysis is MARACA, short for Market Availability Realtime Analysis Customer Addressability. At Tradebyte, we can assist you in your benchmarking that provides insights on how our customer base performs within each market and each marketplace they sell on.
Other popular frameworks for market expansion analysis include the Ansoff Matrix, BCG Growth-Share Matrix, and Value chain analysis.

These vary depending on each marketplace so make sure you have a full understanding as to what is possible for every marketplace you wish to integrate. Make sure you have clarification over potential shipping issues: provider, costs, software requirements, returns, insurance, etc.

Tradebyte can support you with an overview of requirements for specific marketplaces based on the information they provide us in terms of preferred carriers and unsupported carriers.

Take the time to research the specifications for your target countries in terms of registration obligations, packaging licensing and VAT requirements. While Tradebyte is not able to give legal advice, thanks to our partner management we are able to support with an overview of key steps to consider at this stage.

New payment methods may need to be integrated in your online store, so make sure you conduct the research before you get started with expanding to new marketplaces. As a general rule, the more methods customers can choose from the better as every individual has their preferred method of payment. There will be different requirements depending on the marketplace you wish to sell on – feel free to reach out to your dedicated Tradebyte teams they are well versed on the subject and will be able to help you understand the requirements for specific marketplaces.