Spain: The land of cross-border opportunities

Spain began 2015 with its first year of economic growth since the start of the economic crisis in 2008. Even during five years of recession, the one market that continued to grow was business-to-consumer (B2C) ecommerce. Spain is home to 47.7 million people, and about 16.5 million of them are online shoppers who spend an average of €874 each every year. This makes Spain the largest ecommerce market in southern Europe.
 

Expanding your business in Spain

More than 60% of 2014’s Spanish ecommerce transactions were made on international sites: of these, over 90% were in the EU (mainly in the UK, Germany and France).
The main reasons for this are:

• An appetite for international brands
• An underdeveloped logistical system in comparison to other mature markets (making long delivery times a standard for both domestic and international purchases)

Consumer confidence is on the rise, but as a result of the lengthy financial crisis many Spanish shoppers remain very price-conscious. This means that pricing your products and services correctly is key to succeeding in this market. If you’re able to offer a competitive price and a product that’s unavailable to Spanish consumers locally, this could potentially be a good prospective market for you to enter.
 

The essential guide to VAT for online retailers in Spain

To ensure your move into Spain is successful, examine your tax and regulatory obligations before you start selling there. Check this essential guide ,from our partners at SIMPLYVAT.com, covering all of VAT and regulatory information you will need. Keep it handy as your international expansion plans take off!
 

Grow your marketplace sales

Using an international marketplace is the first step for many e-tailers as they make their initial move into the European market. With the help of an ecommerce currency specialist, you can halve the cost of converting overseas sales revenue into your home currency.

To find out how Currencies Direct work with online retailers like you to manage their international money exchanges and maximise their profits, contact the friendly experts on our ecommerce team:

+44 (0) 207847 9269 
etailers@currenciesdirect.com
 

Sources
http://www.thepaypers.com/ecommerce-facts-and-figures/spain/8
http://www.ecommerce-europe.eu/news/2015/e-commerce-why-there-are-loads-of-fresh-opportunities-to-seize-in-spain