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Ecommerce

Cross-border ecommerce to reach USD 900 bln by 2020

Monday 20 March 2017 | 09:41 AM CET

Cross-border ecommerce has become the fastest growing segment in the retail market, according to DHL Express report.

Cross-border sales volumes are predicted to increase at an annual average rate of 25% – from USD 300 billionn to USD 900 billion – between 2015 and 2020. This is twice the pace of domestic ecommerce growth.

The study found that online retailers are boosting sales by 10-15% on average simply by extending their offering to international customers. By including premium service offering such as faster shipping options, retailers and manufacturers also grew 1.6 times their online stores faster on average than other players.

In Asia (Singapore, Hong Kong, and India) and Europe (Italy, Spain, France, Germany), key markets for high-value purchases are being expanded — with growth rates up to two or three times higher than the global average driven by rising consumer education and e-tailer awareness of opportunity.

The report also noted that the USD 30 billion market of high-basket value transactions is evenly divided between Asia, Europe, and North America.

DHL Express sees that virtually every product category has the potential to upgrade to premium, both by developing higher quality luxury editions and by offering superior levels of service quality to meet the demands of less price-sensitive customers.

The main challenges highlighted by consumers to cross-border purchases relate to logistics, trust, price, and customer experience.

More: Link
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