Countries Covered: Australia, Brazil, Canada, Chile, China, Colombia, France, Germany, India, Indonesia, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Poland, Russia, Saudi Arabia, South Korea, Spain, Turkey, UAE, UK, USA, Vietnam
Publication Date: 03/03/2020
Questions Covered in the report:
- How large is the global cross-border B2C E-Commerce market predicted to be in 2023?
- What are the main drivers and barriers of global cross-border B2C E-Commerce?
- Which countries have the highest cross-border online shopper penetration rates?
- What product categories are popular among cross-border digital buyers?
- Which E-Commerce marketplaces are used by shoppers to buy internationally?
Global cross-border B2C E-Commerce market to maintain strong growth through 2023
Half of global digital shoppers buy cross-border
Global B2C E-Commerce market is becoming increasingly internationalized, with more than 50% of digital consumers making purchases from sellers located in other countries. The global leaders of the cross-border online shopping trend include consumers in Australia, Canada, China, and Mexico. Lower prices, unique product offerings and better brand availability are among the key reasons why online shoppers prefer to buy cross-border. At the same time, high shipping costs, slow delivery and customs charges are named the top barriers to global cross-border E-Commerce. Furthermore, the yStats.com’s report shows that localization features, including local payment methods, pricing in domestic currency and website translation play an important role in attracting cross-border customers.
Fashion and electronics are the top cross-border E-Commerce categories
The largest product categories in cross-border B2C E-Commerce in 2019 were fashion and electronics, according to findings in the yStats.com report. Other popular items include beauty and health products, games and toys, and household goods. In terms of seller location, the leading countries by online exports in 2019 were China, the USA, the UK, Germany and Japan. A large portion of international online trade takes place on marketplaces based in these countries, including AliExpress, Amazon, eBay, Wish, Rakuten, and others.
Cross-border B2C E-Commerce market prospects through 2023 are bright
With the cross-border online shopping trend expected to continue to gain traction, the value of cross-border B2C E-Commerce sales is projected to reach a high 12-digit figure in U.S. dollars by 2023. Still, there is even more room for growth, as by the end of the forecast period, cross-border revenues will account for less than one-fifth of the world’s total online sales, according to projections cited by yStats.com.