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Ecommerce

Global B2C cross-border ecommerce to skyrocket: USD 1 trillion in 2020

Monday 15 June 2015 | 01:10 PM CET

The global B2C cross-border ecommerce market is forecast to hit USD 1 trillion in 2020, up from USD 230 billion in 2014.

These are the predictions of a report from global consulting firm Accenture and AliResearch, Alibaba Group’s research division. The report, titled “Cross-border B2C E-commerce Market Trends”, indicates that this increasingly popular form of online shopping will witness a compound annual growth of 27.4 percent until 2020, double the rate of worldwide B2C shopping as a whole. In addition, by 2020, over 900 million people around the world will be international online shoppers, with their purchases accounting for almost 30 percent of all global B2C transactions.

China is expected to become the biggest cross-border B2C market by 2020, with the transaction volume of imported goods purchased online reaching USD 245 billion, according to Accenture-AliResearch. Until 2020, over 200 million Chinese consumers will be shopping cross-border.

According to alizila.com, cross-border online shopping is gaining popularity especially in emerging markets, where consumers can find it hard to find affordable imported products in local shops. In many cases, the only alternative is shopping on websites in other countries or from marketplaces such as Alibaba Group's Tmall.com, a Chinese B2C website that hosts merchants from around the world.
 

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