Online Resource Provides Research, Tools to Help Retailers Tap the Expected $10 Billion In Sales on Singles Day
SINGAPORE, June 13, 2014 /PRNewswire/ -- Today, PayPal launched PassPort, a website designed to educate and empower small businesses with free tools to expand their global sales. PassPort provides country-specific guidance on seasonal sales peaks, including holidays and events; cultural customs, taboos and trends; shipping and distribution logistics; currency exchange and fees; and customs procedures and taxes.
"Small business owners know that reaching a global market can exponentially increase their sales, but many aren't sure where to start," explained Carey Kolaja, Vice President, Global Product Solutions, PayPal. "In 2013, global trade accounted for approximately 25 percent of PayPal's Total Payment Volume - so we understand the challenges and opportunities of international trade. We designed PassPort with our international insights to help small businesses tap into global sales opportunities as simply and seamlessly as possible."
Becoming a global retailer means looking beyond Valentine's Day, Mother's Day and Black Friday as peak selling days and addressing country-specific sales opportunities. Businesses using PassPort will gain insight into the traditions, trends and taboos surrounding Singles Day - the November 11 Chinese holiday that dwarfs Black Friday in ecommerce revenue and is "expected to easily exceed US$10 billion" this year, according to a USDA report. Information on additional top global retail holidays - like Golden Week in Japan and Click Frenzy in Australia - will prepare businesses to expand their sales and reach more potential customers.
"PassPort removes perceived barriers by revealing cultural gift-giving traditions and taboos and helps to ease the complexity of shipping and customs," continued Kolaja. "By helping businesses understand when and how to best engage with international shoppers, we go far beyond the secure and simple payments our customers expect from us and enable them to tap into new revenue potential."
In addition to holiday-specific content, PassPort delivers PayPal's trusted expertise and resources. Buying and selling patterns around the globe and across key corridors is presented on PassPort to deliver a unique resource to small businesses looking to expand into new markets.
PassPort helps businesses start selling internationally quickly via direct links to eBay Marketplace tools. eBay, Inc., enables global connected commerce and is the quickest and easiest way for PayPal customers to start selling internationally.
"Realizing many of my customers live outside the US is what prompted me to shift almost entirely to PayPal's trusted and streamlined online payment process and I haven't looked back. Our shoppers love the magic of discovering unique pieces, especially those who live overseas. They rave about finding clothes and accessories on my site that they can't find at home. Twenty percent of my sales have come from cross border this year, and having access to PassPort will certainly help that number grow," said Jenn Crowder, owner of Boston Fashion House. "Learning more about the holidays, buying patterns and gift-giving traditions of huge emerging economies like Brazil and China is a fantastic shortcut for me as I work to further expand sales of my luxury goods."
For more information, please visit http://www.PayPal.com/PassPort
