Good entrepreneurs know there are always ways to grow their businesses … but great entrepreneurs understand the key to success is finding expansion opportunities where risk is low, and gains are high.
For Volusion-powered online stores owners, that opportunity exists now, in an unlikely place: language. Imagine a version of your Volusion ecommerce store, presented in several languages, serving global & domestic markets, and appearing in relevant regional and international search engines.
Take the greatest U.S.-based opportunity, the U.S. Hispanic market. There are more than 53 million Hispanics currently living in the U.S., just over 17% of the country’s population. (It’s growing, too, on track to hit nearly 30% of the U.S. population by 2050.) These shoppers are already hip to your way of selling. U.S. Hispanic consumers are web-savvy: 80% currently use social media, much greater than non-Hispanics (70%). Four years ago, the buying power of U.S. Hispanic consumers was an astounding $1 trillion. Next year, it’ll hit $1.5 trillion.
These are potential customers are already looking for your products … but they’re not finding them. This is because many are searching in Spanish. To woo these new customers, your online store must speak their language. Think of it as a one-two punch: By expanding into less competitive markets, your product offerings stand out … and by offering those products in-language, you’ll sell more.