Selling Locally or Internationally?

I am sorry for not updating the blog earlier as I have been flat out with work.

To most people, when they hear about selling online, their perception is about selling locally.

Don't get me wrong, selling locally have its advantages too. So does selling internationally! I have made a simple table for comparison below

	Selling Locally	Selling Internationally
Advantages	Competition is low. Able to monopolize the market.	Higher profit due to Foreign Exchange. Bigger volume due to bigger market.
Common Issues	Local market is small. Depends on what items you selling.	Very steep competition at the international level causing certain margins to be thin. Shipping times long.
Competition	Low. Not many local players.	Very high. Competition with people throughout the world, specially the up and rising chinese from the China
Profit Margin	Low to Medium. Depends on products and competition.	Low to High. High margin are due to the exchange rate, able to profit from the Foreign Exchange. Low margin comes from super steep competition and saturated market, but makes up with the huge volume.
Volume	Low. Able to offset by having more items.	Medium to High. Medium volume comes from less saturated where, the profit margin is normally higher. High volume comes from saturated market and steep competition, but a lower margin
Shipping Cost	Low	High
Shipping Times	Quick. 2-4 days	Long. Up to 2 weeks to Australia & Europe. Up to 3 weeks to United States
Success Stories	Selling computer parts imported from China. Able to compete with retail shops where items are generally more expensive. Target market of computer users who are comfortable with purchasing online. Asians are always looking for bargains!	Selling decorative ribbons which cost about $3RM for about £1 at international levels. Huge volume. Internationally buyers feels at £1, the items are at a bargain.