Do you run an online store on the domestic market? Why not expand your business internationally! Thanks to the support of the COMMPLACE agency, conquering foreign markets is easier than you think! Although it requires additional effort, as a result, you have a chance to effectively reach millions of potential customers and significantly increase your company's turnover. At the beginning, we suggest how to set up a shop in Slovakia.
It turns out that Slovakia is currently one of the most popular destinations for expanding your online commerce business. Despite the uncertain economic situation, the local e-commerce market is still developing very dynamically. Slovaks are happy to shop not only in national e-shops or local auction platforms. More and more boldly choose foreign stores and portals. They are very willing to use price comparison websites and often start their shopping there.
Shop in Slovakia - where to start?
The COVID-19 pandemic has caused a crisis in many industries in recent years. However, it was as a result of it that most of the trade moved online. As a result, online stores are becoming more and more popular. Slovakia has relatively few entry barriers. Running a business in Slovakia is profitable for Poles, if only because of the lower VAT and income tax rates. If you want to register a business, you can use the services of the e-office or apply to one of the Slovak provincial offices and pay a registration fee of EUR 5. The company in Slovakia works immediately. We do not have to wait for the appropriate entry or REGON number to start our business.
The lack of significant cultural differences and the possibility of settling in euros are an additional convenience. Slovaks highly value customer service in their native language. Therefore, when introducing a store to the Slovak market, it is worth investing in proper call center service.
If you want to effectively sell your goods to foreign customers, you must remember to adapt your store and its regulations to the regulations in force in a given country. Customers need to feel safe and comfortable in your store. That is why it is so important to match the methods of payment and delivery of goods to the individual preferences of representatives of a given market.
Payment methods
How to pay in Slovakia? What are the preferences of Slovaks in terms of payments in e-shops? Well, the favorite form of settling transactions in Slovakia is payment for goods on delivery, which is why it is worth starting your adventure with the conquest of foreign markets by adjusting the rules of cooperation with a local courier network or operator of local parcel collection points. Lack of preferred methods of payment or delivery of goods can make the customer withdraw from the transaction literally at the last moment.
Remember that the price we offer to our customers also includes VAT, which varies depending on the country in which the transaction is made and whether the order is placed by a company or an individual. The value of this tax should be properly configured in the settings of our e-shop. For all companies selling online in the European Union, a special program has been prepared - Consumer Law Ready, which enables the implementation of free online courses in the field of consumer law applicable in a given EU country.
What else should you remember when opening a Slovak store?
Slovaks have fallen in love with e-commerce. The key to success is to adjust the e-shop to the standards, preferences and shopping habits of customers representing the local market. The basis is domain extension and reliable translation of all content on the website not only into English, but also into Slovak. The online store in Slovakia is governed by its own laws. It is necessary to translate and adjust contact details, store regulations, privacy policy and rules for storing and processing personal data.
The success of an e-shop depends primarily on the attractiveness of the offer and the ability to promote it on the market. In addition to an e-shop website operating on a foreign domain, it is also worth considering the presence of our company's offer on the most popular shopping platforms on a given market. E-shop customers pay attention not only to the price of goods, but also to: the cost and delivery date, a transparent return policy, the possibility of using trusted payment systems and positive opinions of other customers. Also remember to provide your customers with the possibility to contact them on a local phone number and to return the goods to a Slovak address.
Launching an e-shop on a new market is not technically difficult. More effort is required to study the market and learn about the actual preferences of consumers. A proven idea is to add a separate internet domain to each language version of the e-shop. Interestingly, if you want to sell goods on the Slovak market, at the beginning it is enough to provide service in the Czech language. For Slovaks, it is definitely a more advantageous solution than the possibility of buying only in English.
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How to run a business successfully in Slovakia?
It turns out that nearly half of the Slovak online trade is made in Czech e-shops, where most transactions are settled in the "cash on delivery" formula, i.e. payments on delivery. Local consumers are also happy to open and check the package on delivery.
Shops in Slovakia, wanting to effectively deliver goods to their customers, most often use the services of the Slovak post and courier companies: UPS and GLS. When tracking consumer behavior, it can be noticed that Slovaks are much more likely to choose the option of delivering parcels to collection points (e.g. Z-box, AlzaBox or Mall parcel lockers) than courier parcels delivered to their place of residence. Slovaks highly appreciate the possibility of free return of goods and attaching an already printed return label to the package. It is worth remembering when determining the rules of cooperation with the local post office, courier company and pick-up point operator.
Slovaks are very eager to use price comparison websites, such as Google, Heureka, Pricemania, NajNakup, GLAMI, Favi, ShopAlike or Zbozi. The latter, due to additional functionalities, is most often chosen by representatives of the older generation. Price comparison websites allow the customer not only access to the cheapest offer, but they redirect directly to the website of a given e-shop, which greatly facilitates the finalization of the entire transaction.
For Slovaks, an extremely important element of the purchase transaction is the delivery time, which should not exceed 72 hours. An additional incentive to take advantage of the offer of a given store is the possibility of buying goods in installments, so it is worth trying to find the right partner to carry out this type of procedure.
Slovakia: the most trusted stores
As e-commerce market analysts note, the popularity of online shopping in Slovakia is growing year by year. Slovaks trust e-shops a lot, but they still feel a strong need to personally try the goods before buying. The argument that makes Slovaks more and more willing to use e-shopping is the fact that the Internet allows for a much larger selection of goods, and their price is more attractive than that offered in brick-and-mortar stores.
When running an e-shop in Slovakia, you should focus on maximizing the simplification of the entire shopping path. Slovaks love to use shopping comparison websites, which is why it is an extremely important channel to reach customers. Remember about it when launching your store in Slovakia. No less important are positive opinions and comments in the media. However, what most influences the consumer behavior of Slovaks are certificates confirming the quality and authenticity of branded products, medical devices and electronic equipment.
Slovaks are very eager to use social media such as Facebook and Instagram. They are happy to make purchases via social media and highly value the cooperation of companies with local influencers. For the youngest users, YouTube and TikTok are very important promotion channels. Negative comments or opinions in social media effectively discourage Slovaks from shopping. It is worth remembering when preparing a communication and promotion strategy for a specific offer.
What to trade online? What does the perfect Slovak online store offer?
The goods most often purchased online by residents of Slovakia include:
- furniture,
- home appliances,
- clothes,
- Shoes,
- leather goods,
- electronics,
- books,
- toys,
- sport equipment,
- car accessories,
- decorations (especially wedding decorations),
- branded cosmetics.
Slovaks are very eager to look for products on the Internet that can be closed in the broadly understood hobby category. In addition, the so-called group shopping. Due to the pandemic, in 2021 and 2022, the popularity of e-shopping for groceries and everyday items also increased significantly in Slovakia.
How to run a shop in Slovakia?
Polish-Slovak trade in the first six months of 2022 increased by 17.3%. Poland is the third largest trading partner of Slovakia. Polish goods have free access to the Slovak market under the rules applicable throughout the European Union.
Slovaks and Czechs, unlike representatives of other countries, are extremely price sensitive. That is why they are so eager to use all available comparison websites. In addition, they like quick payment methods, preferably to points from which they can pick up the goods at any time. In order to ensure success on the Slovak e-commerce market, we should focus our activities on:
- presence in local price comparison websites,
- caring for certificates confirming authenticity and ensuring the security of transactions,
- securing timely delivery of orders and quick handling of returns,
- ensuring efficient telephone customer service in Slovak or Czech,
- enabling payment directly on delivery.
Worth knowing:
What is the import of goods to Slovakia like?
Slovakia's import requirements are fully harmonized with EU law and regulations. When bringing goods into Slovakia, exporters complete a goods exchange declaration or an Intrastat declaration. If the country of origin of goods exported to Slovakia does not belong to the European Union, customs duties are calculated ad valorem on the CIF value of the goods, in accordance with the Common Customs Tariff (CCT).
What are Slovak consumers like?
In the purchasing process of Slovak consumers, the price remains an important factor in the purchasing process. However, there is a growing interest in buying high-quality products, which is a consequence of the increase in personal income. Slovak consumers are increasingly aware of the composition of products (the content of artificial ingredients and dyes) and the origin of products (local, EU, foreign), as they pay more and more attention to a healthy lifestyle and patriotism based on fair trade.
What tools do Slovaks use to buy online?
According to www.mauritiustrade.mu, in terms of preferred devices, 90% of online shoppers make purchases using desktops, 4% do so using smartphones and 3% use tablets.