Cross Border E-commerce: Welcome to The Future
Cross-border e-commerce is defined as international e-commerce according to which, suppliers sell their products to consumers living in other countries and jurisdictions. However, consumers who trade with suppliers online and share one common language, border or currency, do not perceive it as cross border trading (e.g.trading within European Union).
Internet, smartphones and digitisation in general, play a major part in our everyday lives and most people nowadays, use these devices to make online purchases. Currently, there are 1.79 billion digital shoppers worldwide and this number will increase to 2.14 billion by 2021.
But let’s talk more about numbers.
E-commerce is growing 250% faster than traditional retail. In particular, the revenue of e-commerce was estimated at $1,785,733 million in 2018 and by 2023, this amount is expected to show an annual growth rate of 8.9% reaching $2,734,414 million. In addition, user penetration was around 55% in 2018 and it is estimated that it will reach 62% by 2023. Finally, the average revenue per user is $633.69 and the largest segment of e-commerce market is Fashion with $524,872 million in 2018.
45% of global online shoppers tend to purchase products from overseas stores. This is because internet has made it easier for all of us to browse different products, to make easy and fast online payments and to engage in conversations about these products on social media.
But the most important benefits of cross border e-commerce shopping are that we can find products that are not available in our countries and we can buy them at any time and any place.
There are some established markets within the e-commerce market that are called e-commerce hotspots. Such markets are the UK, the USA and Germany. However, there are other markets that are emerging and developing to a very strong and important part of the e-commerce market such as China, South Korea and Indonesia.
Challenges of Cross Border E-commerce
Language is an important determinant in cross border e-commerce. Common language minimizes the differences and the barriers and it is cost effective for the retailers as they don’t have to adapt their websites and pay for translations and local proof-readers. Fraud in another challenge of e-commerce that we need to overcome. You always need to be prepared and informed about the best payment services in the country that you want to operate to.
Logistics and regulations can be very complicated when it comes to cross border e-commerce. If you work tightly with your freight forwarder, you can get multiple options and alternatives always tailored to your needs.
At Haulystic Innovations, we understand your requirements and our primary goal is to create value for our clients. We assess every situation accordingly, and plan a supply chain strategy that fits your business.
We take care of custom clearance and we provide end to end pipeline consultancy and management for your products.
Visit our digital platform and book your shipments online!
Internet, smartphones and digitisation in general, play a major part in our everyday lives and most people nowadays, use these devices to make online purchases. Currently, there are 1.79 billion digital shoppers worldwide and this number will increase to 2.14 billion by 2021.
But let’s talk more about numbers.
E-commerce is growing 250% faster than traditional retail. In particular, the revenue of e-commerce was estimated at $1,785,733 million in 2018 and by 2023, this amount is expected to show an annual growth rate of 8.9% reaching $2,734,414 million. In addition, user penetration was around 55% in 2018 and it is estimated that it will reach 62% by 2023. Finally, the average revenue per user is $633.69 and the largest segment of e-commerce market is Fashion with $524,872 million in 2018.
45% of global online shoppers tend to purchase products from overseas stores. This is because internet has made it easier for all of us to browse different products, to make easy and fast online payments and to engage in conversations about these products on social media.
But the most important benefits of cross border e-commerce shopping are that we can find products that are not available in our countries and we can buy them at any time and any place.
There are some established markets within the e-commerce market that are called e-commerce hotspots. Such markets are the UK, the USA and Germany. However, there are other markets that are emerging and developing to a very strong and important part of the e-commerce market such as China, South Korea and Indonesia.
Challenges of Cross Border E-commerce
Language is an important determinant in cross border e-commerce. Common language minimizes the differences and the barriers and it is cost effective for the retailers as they don’t have to adapt their websites and pay for translations and local proof-readers. Fraud in another challenge of e-commerce that we need to overcome. You always need to be prepared and informed about the best payment services in the country that you want to operate to.
Logistics and regulations can be very complicated when it comes to cross border e-commerce. If you work tightly with your freight forwarder, you can get multiple options and alternatives always tailored to your needs.
At Haulystic Innovations, we understand your requirements and our primary goal is to create value for our clients. We assess every situation accordingly, and plan a supply chain strategy that fits your business.
We take care of custom clearance and we provide end to end pipeline consultancy and management for your products.
Visit our digital platform and book your shipments online!
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