Trillions of Dollars Lost in Translation

A $30 trillion internet sales black hole is being lost in translation because marketers are not localizing their websites for different countries, according to online translation technology company Dakwak. Dakwak is urging businesses to optimize their websites for the global market, and claim 11 languages enable access to 85 per cent of the world’s wallet.

In the past two years the economic potential of making money online has grown from $36.5 to $44.6 trillion. However, just one third of that figure is available if websites are only available in English. And that figure is even less with websites solely in languages not as widely used as English – for example Portuguese, Russian or Japanese. This leaves $30 trillion in potential untapped sales which businesses could be cashing in on.

According to Waheed Barghouthi, CEO at Dakwak, language is a key factor in online purchasing behavior:

Research has shown that 85% of consumers are more inclined to buy a product when confronted with information in their own language, and 54% say this is more important than the actual price.

This tells us that comfort and confidence in reading a website that has been translated into your language is a huge factor in the purchasing decision, but many businesses are failing to do this, as they see website translation and localisation as a costly exercise involving big budgets and teams of people.

To support the statistics, Dakwak has launched a cloud based web translation tool.

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