Reduce the impact of tariffs in your e-commerce

The tariffs are a key factor for companies that depend on the importation of goods. The new tariff changes require innovative solutions companies, which must adapt to these changes, rethink their logistics processes and modify their digital marketing strategies.

According to the World Trade Organization (WTO), more than 45% of companies operating internationally have modified their digital strategies due to fluctuations in tariffs. At Mexico have been generated increases in operating costs and adjustments in supply chains.

In this article, we explore how tariffs affect digital trade and share key strategies to mitigate their impact.

Why do tariffs affect digital trade?

Changes in tariff policies create challenges for e-commerce digital campaigns, 

• Cost increase: if your products or services depend on imported products, you should consider that due to changes in tariff policies, there may be an increase in costs that will directly affect the price at which you offer, affecting the perception of value for your customers.
• Supply chain: Due to changes in tariffs, delays in the delivery of goods can occur, affecting the customer experience and your brand's reputation.
• Local competitiveness: tariffs can make domestic products more competitive, so if your entire stock is imported, you will have to make several price adjustments.

Mitigates tariff policy changes

The key is to adapt to the changes, informing yourself about the changes, identifying the impact it will have on your business and looking for solutions. Here are some key strategies:

• Price adjustment: behavior of your consumers with tools such as Google Analytics  to adjust prices without sacrificing your profit margins.

• Strengthen the value of your brand: designs communication campaigns highlighting the company's attributes of your domestic products, as sustainability or artisanal production. It highlights the characteristics and benefits of your company.
• Market diversification: uses platforms such as Amazon Global, eBay and AliExpress for explore geographies less affected by tariffs and expand your reach.
• Preference for local productsTake advantage of the trend of consuming national/regional products. Create quality content that stands out for its uniqueness and origin.
• Real-time data analysis: implements tools such as Tableau or Power BI for monitor cow tariff changes affect sales in your industry y adjust your marketing strategy. 

Tools to understand your customers:

Dealing with the impact of tariffs is easier with the right tools. Some useful options include:

• Trade Map: to monitor changes in commercial policies and predict trends.
• Shopify Markets: adapt your e-commerce for different markets. Consider language customization, price adaptation, payment methods and packages.
• Customs Info Database: consult tariff codes and specific requirements for the regions where you have the most sales.

New technologies offer integral solutions in different areas that allow counteract negative impacts on e-commerce. The use of artificial intelligence and machine learning can predict tariff scenarios, allowing companies to anticipate changes based on numbers.

Conclusions

The companies that decide to and innovate your business and marketing strategies are those that will be able to cope with changes in tariff policies. To this end, the aim is to data analysis tools that allow us to predict trends and understand consumption patterns in order to strengthen the value proposition of our products.

Finally, the new technologies and the strengthening of local brandsThe new solutions, which allow us to find creative solutions to grow our business in a rapidly changing global environment, are the key to our success.