eCommerce set up in Trinidad and Tobago is a bit different than set up in other countries and that is because the financial sector here is different than in more developed countries. This does not mean that small and micro businesses can’t succeed locally. Once your business is able to adapt to the local market then success is sure to come! eg Credit card penetration is very low, however, everyone uses cash! Let’s dive into why you should embrace eCommerce for your business as well as how to succeed online.
Every single person living in Trinidad and Tobago has a cell phone. According to an article by the Ministry of Trade and Industry there is a 135% penetration rate of mobile users in Trinidad and Tobago. – The take away here is that your eCommerce experience needs to be optimised for mobile users!
73% of all citizens are internet users. Well over 1 million people in Trinidad and Tobago uses the internet on a regular basis. 810,000 of these users have a social media account and according to Facebook around half of these users are active monthly. – The take away is that you can reach around 400,000 people here in Trinidad and Tobago by using social media alone and if your business is creative in the way it promotes its eCommerce store then you can potentially reach well over 1 million of them!
81% of the population has an account with a financial institution. Again, that is well over 1 million people who can pay for your goods or services. 20% of them have a credit card or debit card. – The take away here is that once your business is able to offer a payment method easily accessible then your business will be able to succeed. We can take an example from KFC Trinidad and Tobago who was able to not only launch an app and website but were able to dominate over so many other fast-food chains. The reason for this is that they allow many payment options on checkout. Please ensure you are not limiting your customers because your business has not adapted to the local market!
I invite you to speak to one of our experts at Pellau Media so we can advise you on the best method to set up eCommerce in your business and also to succeed in doing so! If you were waiting on a sign to finally try out an online store then I invite you to try out our starter package for only $850TTD. This option gives your business everything it needs to sell online.