Germany-based secondary market research specialist yStats.com has released a new market report, “Asia-Pacific Cross-Border B2C E-Commerce Market 2020”. The report points to the continued growth of online exports and imports in this region, as more digital buyers start shopping internationally.
Three in four online shoppers in Asia-Pacific buy cross-border
According to the findings of the yStats.com’s report, the share of online shoppers in Asia-Pacific making purchases from out-of-country sellers reached three-quarters in 2019. This is a significant increase compared to around one in two online shoppers in 2017. The most active cross-border online shoppers live in China, Australia, and Hong Kong. In China alone, the number of digital buyers purchasing from foreign online sellers expanded by more than 100 million over the past two years. On the other end of the ranking is Japan, where only two out of ten digital buyers used foreign E-Commerce marketplaces in 2019.
Drivers and barriers of Asia-Pacific’s cross-border E-Commerce
The main drivers of cross-border shopping in Asia-Pacific are better product quality and availability, as well as lower prices than those offered by domestic sellers. Furthermore, factors such as payment methods and delivery rank among the most important considerations of international digital buyers in this region. Long shipping times and high delivery charges could deter Asia-Pacific’s online shoppers from making an international purchase.
Intraregional online trade flourishes in Asia-Pacific
A significant share of cross-border E-Commerce trade in Asia-Pacific occurs within the region. China, Japan and South Korea are among the top regional cross-border online shopping destinations. Outside the region, the USA and the EU are Asia-Pacific’s top online trade partners. The leading cross-border E-Commerce product categories are electronics and fashion, while in some countries, such as South Korea, food and groceries are also frequently purchased across borders. In terms of competition, some of the leading cross-border E-Commerce brands are Alibaba, Amazon and eBay.