It also reveals the top countries and product categories in cross-border online retail and sheds light on drivers and barriers to cross-border online shopping. The report cites various predictions for cross-border B2C E-Commerce growth, concluding that its share of the global online retail market is projected to increase by double-digits by 2022.
More than 50% of global online shoppers buy from ecommerce sellers in other countries. Their primary motivation is to find better prices, but also to reach products of a better quality or items not available in their own country. Clothes, consumer electronics, books and other media products rank as the categories with highest demand in global cross-border ecommerce.
Delivery and shipping costs are the main concern preventing more online shoppers from making purchases from out-of-country sellers, according to another survey cited in the yStats.com’s publication. Third-party research shows that in 2016 more than one-half of shoppers received free delivery on their latest cross-border online purchase. When it comes to choosing payment methods, cross-border online shoppers consider service fees and purchase value and tend to use credit card and E-Wallets more than other payment means.
Countries such as the US, China, and the UK are the top destinations for cross-border online shoppers. Furthermore, yStats.com’s research reveals a clear trend in favor of intra-regional trade, especially in Europe and North America. Large ecommerce marketplaces in these countries are among the major winners of the cross-border growth: in 2016, nearly two-thirds of cross-border online shoppers made their latest international purchase from Amazon, eBay, AliExpress or Alibaba.