Multi-Currency and Multi-Lingual features necessary for Global as well as Indian Domestic Markets
For any business, whether ‘brick n mortar’ or online, mantra for a successful business is to speak buyer’s language and trade in buyer’s currency.
All countries do not understand English, even if they understand, they prefer their native language. In India itself we have huge diversity in spoken languages, mostly each state has its own language. The point here is that if you want your business to spread across domestic and international boundaries, it should not have the constraint of languages. For an e.g. Snapdeal will be available in 12 languages including Gujarati, Tamil, Marathi, Bengali and Punjabi besides English.
How this helps?
Your potential market, will be inclined towards online buying, but if there is no language support, i.e. if there is a vernacular gap, they will not be able to understand your products and offers, so switch to the competitors who provide them their native language support. It is very important for the ecommerce business owners to understand the needs of their customers as without understanding the needs of customers, business cannot be achieved. To incorporate that, after the language is selected by the user, all the website content has to be translated so that they can read and get the information.
For International market, all over the world, there are various languages spoken besides English, mostly in all the continents – Europe, Asia, S. America and Africa. Hence if your business has the potential markets in any of those countries, you should provide the native language option besides commonly used English. By selecting the language of their choice, they will get the content on the website in selected language.
On Domestic front, to explore the regional markets, provision of native language is crucial. People should understand your business – that is the basic requirement and language should support that. Even the international marketplaces and ecommerce businesses are realising the requirement of including regional languages to do business in our country.
In addition to multi-lingual feature, multi-currency feature is also extremely important for Global reach of your business.
It is easy to understand that a customer in France will read your website in French and prefer to buy the products in Euro and not in US Dollars. Another example, customer in Japan will definitely want the Japanese fonts on your website and will buy in Japanese Yen. So, the underlined point here is to do e-commerce business far wide on earth, along with multi-lingual feature, you need to have multi-currency feature. Otherwise, you cannot leverage the potentiality of international markets. For many countries including India, doing business in European or American markets do matter in terms of earnings because of the difference in the currency rates.
To support the multi-currency features, your site should be integrated with payment gateways like PayPal who supports this feature. They should have partnering with local credit card companies and banks. Benefits are consumers will be able to pay in the selected currency or payment is automatically converted into your desired currency and need not to have a standard currency balance. For the businesses advantages are that they will able to receive payment in their currency and have a single currency account but can accept payments in multiple currencies.
Point to keep in mind is to go global, your ecommerce website should have multi-lingual feature and to further support that every country’s language which you are offering in the feature should have corresponding considerations for currency and taxation. This will help you a lot as you are customizing and localizing the needs of consumers and it will create an affinity for your brand.
To gain hold over domestic market, multi-lingual features plays a dominant role. While in international market, both multi-lingual and multi- currency plays an indomitable role. The emerging technologies enables to find out the location of consumers, but it is always best to give the consumers the options to choose the language and currency.
By the features of languages and currency support, your business is accessible locally as well as in different countries with people speaking language other than English and currency other than USD. Consumers of that region or country will feel safe to do the business with you and create an impression that you understand their needs and have strong presence in their country. In turn, it will help your grow and scale up around the globe. It will even give a competitive edge to your business.
Along with incorporation of multi-lingual and multi-currency features, it is equally important that customer service professionals are also well versed in those languages to solve consumer’s grievances and are updated with the ongoing currency exchange rates and taxation policies of different countries.
Mart2Web has all the features including multi-lingual and multi-currency to enhance your business success rate. It is one stop E-commerce solution to go global.