With a population of almost 38 million (the fifth largest in the EU) and the largest central European economy, Poland is packed full of opportunity for online retailers. In fact, the World Bank has classified it as a high-income economy which is defined as “a country with a gross national income per capita of US$13,845 or more in 2022.” Combine that with the reality that Poles are happily embracing e-commerce and it’s a no brainer when it comes to expanding your online sales to Poland.
But, as with any expansion plans, being able to do business in the local currency is key to smooth sailing and happy customers. Which is why we’ve launched our PLN local currency account.
If you’re a marketplace seller or exporter, this means you no longer have to go through the headache of setting up an account with a bank in Poland, which will also require you to have a Polish address. Instead, with your World Account, you can simply connect to over 100 global marketplaces or add your PLN currency account in a few clicks without the need for a local address. This makes it far easier to do business with ‘the land of fields’ (the literal translation of ‘Poland’).
If you’re not doing business with Poland yet, here’s four reasons why you should be…
#1 It’s perhaps the most reliable and successful EU economy
The Polish economy is something we can all admire. After it transitioned from communism, its growth has averaged at 4% every year, which took it from a middle to high-income status in less than 15 years. Not only that, but it was the only country in the EU to avoid a recession during the 2007-2008 economic crisis. In fact, it actually recorded positive growth.
#2 E-commerce continues to expand
Did you know that in 2023, almost 50% of the Polish population expected prices to be cheaper online than in traditional brick-and-mortar shops? That means there’s a huge appetite for online shopping in the country. In fact, marketplaces account for 50% of the e-commerce market share in 2023. At a time when people are looking to tighten their belts, this bargain-savvy audience will be going online more than ever to find good value for their money. So now’s the time to get your business online in Poland.
#3 Consumer trends offer plenty of opportunity
According to PwC, Polish consumers are spending more on food products, health and personal care products and services, and clothing and footwear. So, despite a cost-of-living crisis, there is plenty of demand for a plethora of products.
#4 It’s a hotbed of investment and innovation
The Polish government welcomes foreign business, with tax reliefs for businesses conducting research and development and grants for new projects. This means that if you’re trying to gain traction in the European market, Poland could be a great testing ground and launchpad.
How WorldFirst easily connects you to Poland
- Broaden your e-commerce reach: Amazon launched in Poland in March 2021 and has made huge investments in its infrastructure in the country. However, Allegro is the most popular e-commerce market in Poland. But you don’t have to choose between the two – listing your goods on both websites is never a bad thing. And, with WorldFirst, you can quickly connect your World Account to your Allegro or Amazon account to ensure fast and secure payments.
- Improve your cash flow with better control over your exchange rate: With your PLN account, you can navigate currency complexities without uncertainty, delays, or extra costs. You’ll be able to choose from today’s exchange rate or one you want to wait for. Plus, our conversion rates are much more competitive than what traditional banks can offer.
- Your buyers can pay you in their local currency: It’s quick and simple to add a PLN account to your World Account, and doing so gives you all the convenience of a local account without ever stepping foot in Poland. So you can get paid in PLN just as easily as in GBP.
Have a World Account already?
Then it’s likely you know how easy it is to set up a new local currency account. Simply:
Businesses like yours trust WorldFirst
- Almost 1,000,000 businesses have sent $150B around the world with WorldFirst and its partner brands since 2004
- Your money is safeguarded with leading financial institutions