Cross-border e-commerce presents an incredible variety of opportunities to retailers and consumers, but where to start? The Ecommerce Foundation’s new Global B2C E-commerce Report, powered by Asendia, reveals some of the key facts and know-how you need to know to be a global retail success.
26% of the planet’s population shop online ‒ almost 1.5 billion people, demonstrating the potential of e-commerce around the world. In 2015, global e-commerce was worth over €2,000bn, or 3.11% of global GDP, while social media certainly plays a part in influencing e-shoppers. 1.6 billion people use Facebook, and in China, Qzone and WeChat are supreme with over 600 million users each. This trend for local social media sites can also be seen in other countries, such as Russia’s vKontakte and Odnoklassniki, highlighting the importance of tailoring your social media presence to your target market.
M-commerce is also a key trend to look out for. As the report explains, smartphone demand is at its highest and is still growing, with 1 billion devices sold last year alone, with demand for tablets particularly high in North America, Western Europe, and MENA.
Each geographic region has its attractions for cross-border retailers, as detailed in the report:
- North America is a very mature e-commerce market, where 54% of the population shop online (the highest for any region)
- Latin America’s e-commerce market grew by an impressive 28% in 2015 (tied first with Asia-Pacific)
- Europe is home to some well-established e-commerce countries, such as the UK, France, and Germany
- Asia-Pacific boasts the country with the highest eGDP in the world, China, which could achieve an e-commerce turnover of €1,000bn in the next few years
- MENA is an emerging market, offering untapped potential to cross-border businesses
In the report, Asendia USA CEO Michael Hastings also gives insights on global e-commerce, discussing the greatest cross-border challenges, the latest logistical developments, and the importance of transparent delivery and returns options.
Global e-commerce is still growing, evolving, and presenting excellent opportunities to cross-border businesses. Discover more in the Global B2C E-commerce Report.