Author: AVASK

VAT and Trade in Northern Ireland: Understanding the Windsor Framework

VAT
By AVASK
Date Updated:
Date Published:

If you’re an e-commerce seller, the world of VAT and trade regulations can sometimes feel like a maze, especially when it comes to complex situations like Northern Ireland’s relationship with the EU.

To help you make sense of it all, let’s delve into the background of the Windsor Framework, its significance, and how it impacts your e-commerce business.

The Good Friday Agreement

The Northern Ireland Protocol, implemented as part of the UK government’s command paper, serves as a crucial pillar in maintaining the integrity of the Good Friday Agreement (GFA) of 1998.

The agreement, signed by the UK and Irish Prime Ministers, marked a turning point in the history of Northern Ireland and the Republic of Ireland. It established a new government structure for Ireland, with a devolved Northern Ireland Assembly gaining power over key areas like healthcare and education.

This historic agreement also granted citizens the choice of UK or Irish nationality or both, while facilitating the reduction of violence and British military presence in the region.

The Good Friday Agreement was designed to remain in place until a population-based referendum decided otherwise. Brexit, however, introduced a unique challenge to Northern Ireland. As the only part of the UK sharing a border with the EU, it faced trade complications not encountered in England, Wales, or Scotland.

Post-Brexit “Hard Border” Concerns

Brexit brought trade implications that necessitated checks on all goods moving between the EU and the UK.

While the Good Friday Agreement did not explicitly address the concept of a “hard border”, it emphasised scaling back surveillance between areas, which was seen as a precursor to border surveillance. Reintroducing a “hard border” could potentially breach the agreement.

The Northern Ireland Protocol Solution

In response to these concerns, the Northern Ireland Protocol was proposed and approved by both the UK and the EU.

This protocol shifted the concept of a “hard border” from the border between Northern Ireland and the Republic of Ireland to the border between Northern Ireland and the rest of the UK.

Under this arrangement, goods arriving in Northern Ireland ports from the UK are checked to ensure compliance with EU rules.

Subsequently, goods can flow freely between Northern Ireland and the Republic of Ireland.

While some parties in Northern Ireland supported this solution to uphold the integrity of the Good Friday Agreement, others argued that it created a separation between Northern Ireland and the rest of the UK, leading to the Stormont stalemate.

The Windsor Framework: Simplifying Trade

To address these concerns, the UK proposed a new approach to trade procedures:

Politically, this framework restores power to the Northern Ireland government, enabling them to oppose EU goods rules through established procedures.

This new framework also brings VAT benefits. Changes to the legal text of the treaty allow emergency VAT and excise duty changes and reliefs to apply across the UK, including Northern Ireland. This includes measures like zero rating energy-saving materials and alcohol duty reforms.

Navigating the Windsor Framework as an E-commerce Seller

As an e-commerce seller, understanding the nuances of VAT, the Windsor Framework, and the evolving trade landscape is paramount.

Watch the ‘Changes in Northern Ireland’ session of our recent live broadcast, and learn more about how these changes will affect you as a seller.

AVASK have a dedicated team of experts ready to help you navigate the complexities of international VAT. Get in touch to stay compliant wherever you are selling today.

AVASK passes annual ISO:9001 Audit

News
By AVASK
Date Updated:
Date Published:

Following on from our recent ISO:9001 audit, we are delighted to announce that AVASK has passed the inspection with flying colours, with zero non-conformances identified throughout the annual process.

The AVASK Quality Management System (QMS) ensures that we consistently deliver services that meet or exceed our clients’ expectations, and this system underpins our entire ISO:9001 certification – prompting improved efficiency and accountability.

The audit was carried out by British Assessment Bureau and our successful result renews our ISO:9001 accreditation.

What is ISO:9001?

ISO:9001 is a quality management framework that helps businesses to increase productivity, standardise processes within an organisation and achieve operational excellence by consistently delivering services that either meet or exceed the expectations of a client.

Implementing a QMS enabled AVASK to standardise our operating processes, improve our efficiency and demonstrate our commitment as a customer-centred company, which puts them at the heart of everything that we do.

Our commitment to continuing improvement was highlighted and demonstrated throughout the audit and we have implemented this standardisation at every-level throughout our business.

Dr Angelos Katsaris, Professional Services Director at AVASK, said: “We are delighted to have passed our annual ISO:9001 audit and I would like to personally thank everyone at British Assessment Bureau for their support in this ongoing process.

“AVASK have always strived to exceed the industry standard, ensuring that our clients’ needs are at the heart of everything that we do. Our ISO:9001 accreditation demonstrates our resolve in achieving the very best in service provision for our clients, as well as highlighting our willingness to learn and adopt best industry practices to enable us to grow and expand our business in 2024 and beyond.”

This news comes off the back of AVASK’s award-winning 2023, where the company picked up 6 industry awards and were certified on the ‘Great Place to Work’ scheme for the first time.

For more information about AVASK and our services, visit: https://welcome.avaskgroup.com
For more information about British Assessment Bureau, visit: https://www.british-assessment.co.uk

AVASK unveils new strategic growth with appointment of new CEO Bojan Gajic and enhanced global tech-enabled services

News
By AVASK
Date Updated:
Date Published:

London, 7th December 2023 – AVASK, a pioneer in e-commerce solutions today announced a series of strategic expansions reinforcing its position as a global leader in cross-border expansion.

Central to this announcement and adding to the momentum of AVASK is the appointment of Bojan Gajic, the visionary former Executive of Helium 10, as their new CEO (Chief Executive Officer). Gajic’s extensive experience in scaling technology-driven solutions in the e-commerce sector is poised to accelerate the innovative approach of AVASK towards global market expansion.

Today’s announcement marks a pivotal moment at AVASK, with the internalisation of EU VAT and Customs services, and a substantial enhancement of its Logistics capabilities, re-aligning the company’s focus on comprehensive service enhancement, particularly accelerating delivery of value to its customers through effective and innovative use of technology.

Bojan brings a wealth of experience which ushers in a new dawn for the business. He has spent the last two-decades scaling technology businesses within the e-commerce industry, and his customer obsession is on-par with AVASK founding partners Dr Angelos Katsaris and Melanie Shabangu. His goal at AVASK is clear: continue bridging the transatlantic gap between the marketplaces and ensuring a frictionless cross-border experience for e-commerce entrepreneurs.

Dr. Angelos Katsaris, Co-founder at AVASK, said: “Bojan’s leadership is a significant catalyst in our journey towards global market dominance. His expertise in software development and e-commerce will be instrumental in advancing our technological edge, providing our clients with sophisticated and tailored global expansion solutions.”

“AVASK already unlocked the cross-border trade and rapid scale for thousands of e-commerce business generating tens of billions in revenue on Amazon, eBay, Allegro, Shopify and many other platforms,” said Gajic. “I am excited about the opportunity to help AVASK continue to execute on the commitment to serve the e-commerce community by reducing the friction of cross-border expansion and allowing brands to focus on making great products available to buyers in Europe, North America and beyond. We will internalise the cross-border trade complexity and make the deep and broad expertise of AVASK’s team more readily available to businesses eager to succeed.”

This expansion strategy signals AVASK’s commitment to maintaining its leading role in supporting e-commerce businesses worldwide. AVASK looks forward to leveraging these advancements in fostering new partnerships and enhancing existing ones, aiming for shared growth and success in the international arena.

For more information about AVASK, visit: https://welcome.avaskgroup.com

Autumn Statement 2023: Key Announcements for UK Businesses

Accounting
By AVASK
Date Updated:
Date Published:

UK Chancellor Jeremy Hunt has delivered his Autumn Statement to MPs on 22nd November 2023, in which he declared Britain’s economy is ‘‘back on track’’ but ‘’the work is not done’’.  

The Autumn Statement is an update on the government’s plans for the economy based on the latest forecasts from the Office for Budget Responsibility (OBR). It defines the government’s plans to help rebuild the economy, reduce debt, and restore the UK’s credibility with international markets. But how does this budget affect UK businesses? 

In this blog we highlight the main points from the Autumn Statement which affect UK businesses, with analysis from Christine Lawless, one of our experts in the AVASK Accounting department.

Taxes

  • National Insurance contributions to be cut by 2% to a new rate of 10% as of 6 January 2024
  • Class 2 National Insurance contributions to be abolished for the self-employed, saving the average worker around £192 a year
  • Class 4 National Insurance contributions to be cut from 9% to 8%
  • Temporary tax break known as ‘full expensing’ aimed at allowing businesses to offset any investments has been extended indefinitely

Christine Lawless:  

Whilst there has been little support this time around in reduction to taxes for businesses, the various tax cuts for employees and self-employed individuals will boost the economy, ease inflationary pressure, and incentivise public spending. It was thought that reductions to inheritance taxes and income taxes may have been announced in this statement, however, this has been potentially moved to Spring now.

Cost of living support 

  • National Minimum Wage will be increasing from £10.42 to £11.44 per hour from April 2024 for ages 21 and over.
  • The National Living Wage will be increased by £1.11 to £8.60 per hour from April 2024 for ages 18-20.
  • Universal Credit will rise in line with September’s inflation figure of 6.7% from next April. Universal Credit will benefit next year by around £800. 
  • State pension to rise to 8.5% from April 2024, in line with the triple lock commitment, worth up £900 a year.

Christine Lawless:  

The increased minimum wage along with new guidelines to be laid out for those that qualify for universal credits should incentivise many more to search for employment and therefore boosting the workforce and in return the economy. Furthermore, the increase in income across the board will boost spending.

Additional pledges

  • Treasury has announced a £320m plan to help unlock pension fund investment for technology and science schemes
  • Alcohol duty has been frozen until August 2024
  • A 75% discount on business rates has been extended for retail, leisure and hospitality businesses
  • £4.5bn has been committed to green technology in a bid to keep Britain at the forefront of the global transition to net zero

Christine Lawless: 

Attention has been particularly paid to continuing to boost the businesses hit hardest in covid such as retail, leisure, and hospitality. There is also shown to be longer term growth plans for the country with attention and focus on technology and science.

If you have any questions, please contact AVASK today. You can also telephone us on:

+44 (0)23 8060 0120 or email: accounts@avaskgroup.com

Are you prepared for the self-assessment deadline on January 31st?

Accounting
By AVASK
Date Updated:
Date Published:

The end of January in the United Kingdom marks an important deadline for many individuals and businesses – the self-assessment tax return due date. Whether you’re a seasoned taxpayer or tackling your first self-assessment, it’s crucial to have all your financial affairs in order and submit your self-assessment tax return by January 31st to avoid late filing penalties.

In this blog, we’ll explore what a self-assessment is, why it’s important, and how to ensure you meet the deadline.

What is a Self-Assessment?

In the UK, the self-assessment tax return is a system for individuals, self-employed professionals, and businesses to report their income, calculate their tax liability, and pay any taxes owed to HM Revenue and Customs (HMRC). This process applies to various sources of income, including employment, self-employment, rental income, dividends, and capital gains.

A self-assessment is also applicable if your gross annual income is more than £100,000, or if you are in receipt of child benefits with an annual net income of more than £50,000. In conclusion if an individual has any untaxed income, now is the time to declare this to HMRC, specific guidance on whether or not an individual has to complete a self-assessment tax return can be found on the UK Government website.

Key Dates:

April 6th: The tax year begins.

April 5th: The tax year ends.

April 6th (following tax year): The tax return filing period begins.

July 31st: Second payment on account for previous tax year

October 5th: Registration deadline for self-assessment.

October 31st: Paper filing deadline.

January 31st: Online filing deadline and payment of Annual liability plus first payment on account for the following tax year.

July 31st: Second payment on account for the following tax year

Why Is It Important?

Completing your self-assessment on time is crucial for several reasons:

  • Avoid Penalties: Late filing or late payment of taxes can result in penalties and fines, which can add up quickly. HMRC imposes an initial £100 penalty for missing the filing deadline, and additional fines can be levied for continued delays.
  • Peace of Mind: Filing early ensures you have a clear picture of your tax liability, so you can plan and budget accordingly.
  • Tax Refunds: If you’re owed a tax refund, filing early means you’ll receive your money sooner.
  • Financial Planning: Completing your self-assessment on time enables you to make informed financial decisions, including contributions to pensions or ISAs.
  • Legal Obligation: In the UK, paying the right amount of tax is not only a financial responsibility but also a legal one. Ignoring your self-assessment could lead to legal consequences.

How to Prepare for the January 31st Deadline

Preparing for the self-assessment deadline can be a straightforward process with some organization and planning:

  • Gather Documents: Collect all the necessary documents, including P60’s, income statements, employment expenses, and any relevant receipts. This could encompass payslips, bank statements, rental income records, and more.
  • Register Online: Ensure you have registered for online self-assessment with HMRC if you haven’t already. The deadline to register is 5th October.
  • Seek professional advice: Consider using tax software or hiring an accountant to simplify the process. These tools can help you to accurately calculate your tax liability and submit your return efficiently.
  • Submit Early: Don’t wait until the last minute. Submit your self-assessment well in advance of the January 31st deadline to avoid any technical glitches or unforeseen issues.
  • Pay on Time: If you owe taxes, make sure to pay by the deadline. Late payments can also result in penalties and interest charges.

Meeting the January 31st deadline for self-assessment in the UK is a crucial financial responsibility that can save you from penalties, provide peace of mind, and ensure you’re in compliance with tax laws.

Working with an accountant to complete your self-assessment will not only take the hassle away from you but will also ensure you are paying the correct amount of tax. Get in touch with AVASK today to find out more.

AVASK named E-commerce Accountants of the Year 2023

News
By AVASK
Date Updated:
Date Published:

Local e-commerce accounting firm AVASK scoops award at the Southern Enterprise Awards 2023.

AVASK Accounting & Business Consultants Ltd is proud to announce that it has been honoured with the prestigious title of “E-commerce Accountants of the Year 2023” in the results of the recently announced SME News’ 2023 Southern Enterprise Awards.

This award and the recognition it represents reflects the unwavering commitment that AVASK has made in the support of e-commerce entrepreneurs and the exceptional support it provides to the global e-commerce eco-system, and those wishing to expand their businesses internationally.

The Southern Enterprise Awards seek to celebrate and showcase the achievements of businesses in Southern England, and they recognise companies that have demonstrated excellence, innovation and exceptional services in their respective fields. AVASK stood out as the definitive choice for the “E-commerce Accountants of the Year” category, showcasing their dedication and expertise while serving the UK e-commerce community.

Melanie V Shabangu, Tax Director/Partner at AVASK, said: “We are immensely proud to receive the E-commerce Accountants of the Year award from the Southern Enterprise Awards. This recognition is a testament to the hard work and dedication of our team, who are providing top-tier services to e-commerce entrepreneurs. AVASK remains fully committed to supporting the e-commerce community and helping businesses to navigate the complex challenges of cross-border expansion.”

Dr Angelos Katsaris, Professional Services Director/Partner, added: “The success of AVASK is a result of our deep understanding of the e-commerce landscape, providing innovative solutions and a customer-centred approach, one which places the needs of the client first. Our team continue to collaborate closely with e-commerce entrepreneurs, creating strategies that ensure growth and success – making AVASK the standout choice in the field.”

This award solidifies the position of AVASK as a leading expert in the e-commerce eco-system, highlighting their role as a pivotal partner for any business striving to achieve international success.

For more information about AVASK and the services that we provide, visit our website.

Are you ready for the Customs Declaration Service (CDS)?

Customs
By AVASK
Date Updated:
Date Published:

The new Customs Declaration Service (CDS) is mandatory for all UK import clearances from 1st October 2022.

Until recently, HM Revenue and Customs’ (HMRC) Customs Handling of Import and Export Freight (CHIEF) system has been at the forefront of customs declarations in the UK.

But the existing CHIEF customs declaration system is closing in the UK, with the last day of operation being today, September 30th. All import declarations from October 1st onwards will need to be submitted via the new Customs Declaration Service (CDS).

To avoid the risk of being unable to import goods into the UK from tomorrow (October 1st ), you must be signed up with CDS.

Why is CDS sign up necessary?

CDS is a system that HMRC have developed to process customs declarations in a highly efficient manner. It is founded on world-leading technology and has been implemented in line with government plans to have a fully digitalised border.

But how will this new cutting-edge system change customs declarations in the UK from October 1st? Let’s take a closer look.

C79 certificates will no longer be sent in the post

If you physically pay import VAT at the border, a C79 certificate is produced and posted by HMRC to detail the receipt of the import VAT payments. These certificates are then required to make a lawful reclaim of import VAT.

From October 1st, C79 certificates will no longer be sent in the post – instead, a digital version of the C79 certificate will be uploaded to the trader’s dedicated Customs Financial Account.

The trader will have access to this once the sign up for CDS has completed and it is vital that C79 certificates are easily accessible.

Digital PVA statements

As well as digital versions of C79 certificates, the Customs Financial Account will also house digital versions of Postponed VAT Accounting (PVA) statements. These statements are necessary for the accurate declaration of import VAT where PVA has been utilised at the border.

Dedicated cash account

Finally, a dedicated cash account will be available to the trader within their Customs Financial Account. The cash account can be topped up and used for payment of import VAT/duties automatically, should the trader opt for this. Authority can also be granted for a shipping agent to use this on the trader’s behalf.

Why are you still physically paying import VAT? Utilise PVA!

Postponed VAT Accounting (PVA) has been available to traders in the UK since January 2021.

When PVA is utilised, traders importing goods into the UK do not have to make physical cash payments of import VAT when goods reach the border. Instead, PVA allows for the payment of import VAT to be postponed, to be accounted for on the UK VAT return as VAT payable and VAT reclaimable, resulting in a NIL effect.

PVA removes the requirement of physically paying the import VAT up-front at customs. It will be reclaimed on the UK VAT return via C79 at a later date.

Simply advise your shipper that this is your preferred method of clearance to utilise the obvious cash-flow benefits of PVA.

How can AVASK help?

Whether you continue to pay import VAT at the border or opt for PVA, you must register for CDS to continue efficiently importing into the UK.

If you do require assistance with the CDS registration process, our team of experts can assist with registration and can execute this process on your behalf. AVASK has a dedicated customs team which can help with all your customs declarations needs, leaving you to focus on running your business.

Get in touch:

Tel: +44 (0)23 8060 0120
Email: enquiries@avask.co.uk

Game-changing end-to-end omni-channel supply chain management solution launched by AVASK and KATA for e-commerce sellers

News
By AVASK
Date Updated:
Date Published:

Today, AVASK Accounting & Business Consultants Ltd, in association with KATA Global Logistics Ltd. announced their new omnichannel end-to-end supply chain management solution for e-commerce sellers. This innovative solution enables e-commerce entrepreneurs and marketplace sellers to move products conveniently and reliably from their manufacturer to the marketplaces and fulfilment houses, delivering a simplified supply-chain, and assuring compliance with local tax regulations.

While more traditional solutions offer a portion of the supply chain, for example logistics, customs clearances or final-mile delivery, the AVASK and KATA solution can include the collection of the goods from the manufacturers, the shipment overseas to the destination port, the importation of the goods, including all customs clearances, through to the final mile delivery to a 3PL or a marketplace fulfilment centre, for example Amazon FBA.

Where the difference lies with the AVASK and KATA solution, we also take care of the expert consultancy and advisory support to the business, making the journey as cost and tax efficient as possible. AVASK will also handle all tax implications when importing the goods in the destination marketplace, which includes import VAT deferment schemes, VAT declarations, distance selling in the EU, and the new eco-compliance requirements (EPR) that are currently rolling out across the EU.

Omni-channel fulfilment solutions

The AVASK and KATA end-to-end supply chain solution also takes into account that selling omni-channel is becoming an increasingly popular option within the e-commerce eco-system. With over 50 marketplaces available within the EU alone, e-commerce sellers are diversifying to mitigate the risk of being associated to a single platform. While other end-to-end solutions restrict or limit the options available to e-commerce sellers, the AVASK and KATA solution is as open as you need it to be.

Mark Houghton, Director of Customs and International Cross Border Logistics at KATA Global Logistics, said: “In this evolving landscape, it’s paramount for businesses to be leaders in Global Compliance and aim for a seamless, tech-enabled product.

“Teaming up with pioneers like AVASK and KATA Global Logistics, there’s a golden opportunity to navigate the intricate maze of Local Taxes, Customs, Importer of Records documents, EPR, and the daunting local government bureaucracy. And the good news? That’s precisely where AVASK and Kata Global Logistics shine the brightest.”

Global reach – local support

Over the last 18 months, AVASK have been undertaking extensive customer research, we have found that our clients prefer local support, as this helps with the localisation barriers that can occur when trading cross-borders. Our experts are located in the US, the UK and in the EU, most notably in main Amazon fulfilment countries, the Netherlands and China. This means we can truly support our clients on a local level, with specialist tax and clearance teams located in the UK, The Netherlands and the US.

This truly global support comes alongside our AEO status in the EU, which was recently granted to AVASK – this enables us to clear goods into any port within the EU. Specialist e-commerce consultants are on hand to provide clear and concise guidance to enable the client to achieve the maximum cost-saving benefits, including import VAT deferment schemes and bonded warehousing solutions.

Dr Angelos Katsaris, Professional Services Director at AVASK, said: “KATA was formed, to address the pain points of sellers during the Brexit transition period. Moving forward 18 months and KATA is now a part of the AVASK Group of companies, to form a complete our global compliance vision.

“When e-commerce entrepreneurs use multiple providers, so much is lost between the two companies, we have leveraged internal expertise and hired industry leading experts to bring substantial benefits to the e-commerce community.”

When asked about the future of AVASK, Dr Katsaris cited: “Looking beyond 2023, AVASK is looking for continued growth and expansion of our services to meet the needs of our clients. From 2024, we will be looking to further build on our strategic acquisitions, right across the e-commerce eco-system.”

Real cost-saving benefits

With preferential rates throughout our global shipping and logistics partners, alongside our award-winning e-commerce accounting and tax compliance services, AVASK and KATA can offer real savings and benefits to e-commerce entrepreneurs who are managing this task themselves or are using multiple suppliers.

Our end-to-end supply-chain solution provides a comprehensive and streamlined approach to the e-commerce eco-system, allowing sellers to lower costs, reduce their administrative burden and trade cross-borders with confidence.

For further information about AVASK & KATA Global Logistics, visit: welcome.avaskgroup.com and www.katagloballogistics.com. Alternatively, reach out by telephone: +44 (0)23 8060 0120

How to leverage your overseas website traffic

E-Commerce
By AVASK
Date Updated:
Date Published:

Understanding how to leverage overseas website traffic will help you set your sails in the right direction and generate the sales in your target market.

Here are three ways in which to leverage your overseas website traffic:

1. Domain names and Hreflang

When creating a multilingual website, you may consider buying a .com domain, which is considered a country code neutral domain, or a specific country code domain, such as .co.uk for the UK or .de for Germany.

The advantages of using a country code domain is that your target audience will recognise the familiar domain and that you are active in this country. In addition, with a corresponding email address, you may be communicating that you are able to offer customer service in the language spoken in of country-specific domain name.

CSA Research (2020) found that 75% of respondents say that they’re more likely to purchase the same brand again if customer care is in their language. Buying a country code domain also safeguards your brand against the competition, as you prevent any competitors from buying the domain before you do. 

A disadvantage of using a country code domain is that every variant acts as it’s own website, so the login details will be different and each domain will have its own reputation on the search engines. In addition, owning a county code domain comes with potential legal and regulatory requirements specific to the country, including data protection laws, privacy regulations, and consumer protection rules. 

Alternatively, you can use Hreflang. Hreflang is an HTML attribute used to indicate the language and regional targeting of web pages in multilingual and international websites. 

An advantage using Hreflang is that you keep your original domain. It is preferable that you use a country code neutral domain, such as .com, .net or .org but it is not essential.

Another advantage is that Hreflang allows you to direct the right content to the right audience based on their language and location. This means that users are more likely to land on pages that are relevant to them, creating a seamless and personalised user experience.

It also highlights to search engines that your website contains similar or duplicated content on different pages, but are in different languages. Therefore, your website is not being penalised for duplicated content and your SEO ranking is not negatively affected. 

A disadvantage of using Hreflang is that maintenance can become challenging, especially if you have a large and dynamic website. As your website evolves, adding new pages, changing URLs, or adding new languages can require ongoing updates to hreflang tags.

Another disadvantage is that Hreflang annotations are primarily designed for HTML pages, which might not cover all the types of content your website offers, such as PDFs, videos, or other non-HTML content.

2. Localised content and customer support

According to research, over 70% of internet users will not buy online if the information they read isn’t in their native language.

Even if your website isn’t an ecommerce platform, engaging with your international visitors in their native language will considerably increase the chances of them contacting you for further service.

When it comes to websites, translation alone can leave some key technical, cultural and branding elements behind, especially if you use machine translation with no human checks. This is where localisation takes your website to the next level.

When you localise a website, you don’t only translate content, but also adapt currencies, measurements, date format, symbols, colours, navigation, coding, search engine optimisation (SEO) keywords and more.

For example, did you know that the ‘thumbs up’ symbol is considered offensive in the Greek culture?

If your website includes images and icons, make sure they have the same meanings and connotations in your target markets. If they’re likely to offend certain readers, and not have the same impact as other symbols would, replace them. The same goes for colours.

If you localise your website for non-English speaking visitors, then it is important to be prepared to respond to enquiries in the user’s native language. 

Whether you have a chat facility on your website, a contact form or simply an e-mail address, make sure a native or proficient speaker in or outside your team (such as a translator) can reply accordingly. If you opt for machine or AI translation for replying to enquiries, watch out for any main errors!

A FAQ section in the target language can also become handy. 

3. International SEO

When it comes to multilingual SEO, remember that different countries and cultures search for things online in different ways, and a literal translation of your English keyword will probably not be sufficient. 

Some countries share the same language but have different language variants. For example, in the UK we call a sweater a jumper, but in the USA, a jumper is someone who jumps out of buildings or bridges.

You need to know this if you sell jumpers to the USA and be aware that your potential American customers won’t be searching for jumpers on Google if they want a sweater. 

Other differences are more down to culture. For example, let’s look at the food sector and use the UK and the USA again.

If you’re a UK sauce producer and want to market your spicy sauce in the USA through your e-commerce website, you may want to include keywords in there such as taco sauce, because tacos are a very popular meal in America and Americans may be searching for taco sauce online. 

In addition, seasonal products and offers will also require careful consideration. Many cultures share more or less the same holiday seasons; however, how about Mother’s day, for example? Again, looking at the UK and the USA, Mother’s day is celebrated on different days.

Therefore, if you sell gifts online and want to target the American audience you may want to add Mother’s day gifts as a keyword to your website, to your blog or to your advertising campaign. 

We recommend a keyword research and implement your keywords for each market you are targeting, taking into account linguistic and cultural considerations, alongside product and service considerations. 

Local to Global helps you overcome cultural, linguistic, and branding barriers when exporting your products or services to international markets.

If you have any questions on taking your brand from local to global, then get in touch with us: hello@localtoglobal.uk.

A Global Seller’s Toolkit: Why SKU Reports Are Essential for E-commerce Businesses

Accounting
By AVASK
Date Updated:
Date Published:

A SKU report can help make sure you have the right products in stock, in the right quantities, and at the right prices in each country you sell in, as ultimately you are here to make a profit and not a loss!

 A SKU report can do all of that and more.

What is a SKU report?

A Stock Keeping Unit (SKU) report is a document that lists all of your products, along with their SKU numbers, quantities, prices, selling fees and other relevant data. 

From the report you will be able to identify the low performing SKUs that might be costing you money, but also the individual high performing SKUs where you are making a healthy margin.

Why is a SKU report important for an international e-commerce seller such as yourself?

The report can provide you with a wealth of information about your global operations, including:

A breakdown of margins and retailing prices of each product in each country

These figures can help you track your costs and ensure that you’re pricing your products competitively in each country.

The sales history of each product in each country

This information can help you identify your best-selling products in each country and make decisions about your product assortment and how you specifically market the product.

The profitability of each product in each country

This information can help you make decisions about which products to keep in stock in each country and which products to discontinue.

How to use a SKU report to improve your global selling: 

There are many ways to use a SKU report to identify areas of improvement in: pricing, product selection and advertising. Here are a few ideas:

Identify slow-moving products in each country

A SKU report can help you identify products that are not selling well in each country. This information can help you make decisions about whether to discontinue those products in that country, reduce their prices, or promote them more heavily.

Making informed decisions about your product assortment in each country

The report can help you track the sales history of your products in each country and identify which products are your best sellers. This information can help you make informed decisions about your product assortment in each country, such as which products to add or remove – this may come down to culturally reasons.

Tracking your costs and ensuring that you’re pricing your products competitively in market

A SKU report can help you track the costs of your products in each country and ensure that you’re pricing them competitively in that country. This data is essential for ensuring that you are maximising your profits from each market. 

Summary

A SKU report is a valuable tool for you to utilise, especially if you’re operating cross multiple countries. It can help you track your inventory, identify slow-moving products, and make informed decisions about your product assortment in each country. 

If you’re not already using a SKU report on a bimonthly cycle, I encourage you to start using one today. 

It could help you boost your profits in each country you sell in! 

How can AVASK help?

Reach out to our dedicated team of experts today to book in a free consultation and discuss the first steps of having your SKU report completed.