Cross Border E-Commerce Statistics


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Cross Border E-Commerce Statistics 2023: Facts about Cross Border E-Commerce outlines the context of what’s happening in the tech world.

LLCBuddy editorial team did hours of research, collected all important statistics on Cross Border E-Commerce, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to form an LLC? Maybe for educational purposes, business research, or personal curiosity, whatever the reason is – it’s always a good idea to gather more information about tech topics like this.

How much of an impact will Cross Border E-Commerce Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

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Top Cross Border E-Commerce Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 50 Cross Border E-Commerce Statistics on this page 🙂

Cross Border E-Commerce “Latest” Statistics

  • 80% or more of U.S.-based businesses’ e-commerce sales come from the North American market.[1]
  • 67% of consumers say they prefer to purchase outside of their own nation since the costs are cheaper elsewhere.[1]
  • Cross-border trade is anticipated to represent 22% of physical goods shipments made via e-commerce in 2022.[1]
  • Another issue is a fraud, with up to 54% of retailers reporting a significant number of chargebacks that are directly attributable to international payment fraud.[2]
  • 76% of participants said they abandoned a transaction because the seller didn’t accept their chosen local payment option.[2]
  • A startling 69% of shoppers indicate that if these prices are too high, they regularly or sometimes leave their shopping carts at the checkout.[2]
  • 54% of online buyers said they would be more inclined to make a purchase from a firm in another nation if a BNPL option were available.[2]
  • 20% of e-commerce purchases will probably be performed internationally during the next three to four years.[2]
  • In comparison to prior years, over a third of respondents said they would shop from an international online store more often in 2020, and 51% said they planned to do so.[2]
  • Since retailers accept local payment methods, approval rates increase: the typical domestic credit card acceptance rate is between 80% and 90%.[2]
  • Cross-border fees of between 0.4% and 1.2% are automatically charged for any transactions outside the seller’s jurisdiction.[2]
  • About 3% of online consumers had either final charges greater than anticipated or issues with fraud, such as receiving no products or services or having misused credit card information.[3]
  • A little over 33% of online buyers had made one or two, three to five, or more private use purchases in the three months previous to the poll.[3]
  • Another 5% of online buyers reported having trouble getting their issues resolved or not receiving a suitable answer to their problems. 4% of consumers encountered international shops that refused to sell to them there.[3]
  • CBCommerce estimates that in 2020, online B2C sales increased by 24% and reached 573 billion euros.[4]
  • Online consumers buy mostly on retail websites when they are 61% certain of the brand they desire.[5]
  • Consumers prefer to purchase goods from websites in their native tongue 75% of the time, while just 59% seldom or never do so in English.[5]
  • Over two-thirds (67%) of clothes customers in 11 countries who participated in recent research said they had recently made an international purchase.[5]
  • Zion research estimates that the total value of all cross-border e-commerce worldwide reached $562.1 billion in 2018 and will surpass $4 trillion by 2027, growing at a CAGR of 27.4%.[5]
  • In fact, studies indicate that during the last two years, 2 in 10 small firms have increased their online presence, and more than 10% want to do so in the future.[5]
  • Considering the year 2023 again, China leads the pace, with anticipated growth of more than 70% compared to 44%-45% in the U.S., France, Russia, and Australia.[5]
  • That’s particularly crucial when you take into account that 30% of all inbound customer support inquiries concern the status of an order’s delivery.[5]
  • Cross-border e-commerce is expected to rise in value by 25% annually, almost twice as quickly as domestic e-commerce.[5]
  • Insider Intelligence projects that the amount of m-commerce will increase until 2024 at a compound annual growth rate CAGR of 25.5%, totaling 488 billion in sales and accounting for 44% of all e-commerce transactions.[6]
  • 80% of merchants globally agree that cross-border trading is lucrative or that sellers have effectively raised sales by up to 10% after increasing their marketplace presence, according to eMarketer.[6]
  • 92% of buyers will be reluctant to make a purchase if there are no reviews, according to Fan & Fuel study.[6]
  • It’s anticipated that by 2040, internet retail sales will account for 95% of all retail sales, making conventional retail obsolete.[6]
  • Based on a study of 8,709 worldwide customers in 29 countries, CSA research found that 65% of consumers prefer material in their language, even if it is of low quality.[6]
  • 57% of internet buyers will provide personal information to a company if it enhances their purchasing experience.[6]
  • According to Statista, global internet sales are projected to represent 22% of all retail sales, up from 14.1% in 2019.[6]
  • The best course of action would be experimenting with online markets in target areas, where 62% of current worldwide online purchases occur.[6]
  • Online retail sales increased significantly across a number of nations, with the Republic of Korea reporting the largest proportion at 25.9% in 2020, up from 20.8% the previous year.[7]
  • The top 13 B2C e-commerce firms’ overall GMV increased by 20.5% in 2020 compared to 2019 (17.9%).[7]
  • The most recent projections are that worldwide e-commerce sales increased by 4% from 2018 to 26.7 trillion in 2019 and reached that level.[7]
  • The UNCTAD research also points out that more online buyers were making cross-border from 20% in 2017 to 25% in 2019.[7]
  • According to projections in a UNCTAD research released on May 3rd, the remarkable surge in e-commerce under mobility limitations brought on by COVID-19 raised online retail sales share of total retail sales from 16% to 19% in 2020.[7]
  • The worldwide B2B e-commerce will be worth 21.8 trillion in 2019, accounting for 82% of total e-commerce, which includes both sales made via online marketplaces and EDI transactions.[7]
  • The intriguing aspect of international internet transactions is that 12 countries combined account for 80% of the deals.[8]
  • A little over 54% of U.S. internet customers said they had previously made purchases from overseas websites.[9]
  • The majority of those delaying payments—roughly 75% —are under 45, although there has been an increase in customers over 60 utilizing BNPL services.[10]
  • The worldwide and United States e-commerce market report and forecast estimate that the value of global e-commerce marketing will be 7 million in 2022 and 20 million by 2028, with a CAGR of 17%.[10]
  • By 2023, eMarketer projects that online retail sales will exceed $6.17 trillion, with e-commerce websites accounting for 22.3% of all retail sales.[10]
  • The United Kingdom, which accounts for 4.8% of retail e-commerce sales, is the third largest e-commerce market after China and the U.S.[10]
  • According to cumulative statistics, global e-commerce sales are expected to climb by 16.8% during the most recent period.[10]
  • Continued growth is anticipated to reach 23% by 2025, representing an increase of 2 percentage points in only five years.[10]
  • In 2021, Shopify merchants’ mobile sales through BFCM accounted for 71% of all online transactions.[10]
  • In Australia, 30% of adults possess BNPL accounts, with younger consumers driving this percentage higher.[10]
  • Cross-border trade was least prevalent in the Japanese and South Korean markets, where those figures increased to 41% and 36%, respectively.[10]
  • More than 67% of customers worldwide who responded to flowio’s poll stated they had ever made a cross.[10]
  • With a 17.9% increase in e-commerce market share over two years, that figure is predicted to reach 21% in 2022.[10]

Also Read

How Useful is Cross Border E Commerce

One of the key advantages of cross border e-commerce is the accessibility it provides to consumers. With just a few clicks, shoppers can browse and purchase products from a wide range of international brands without leaving the comfort of their own homes. This has opened up a world of possibilities for consumers, who now have access to a diverse range of products that may not be available in their local markets.

Another benefit of cross border e-commerce is the potential cost savings for consumers. By shopping online from retailers in other countries, shoppers can often find better deals and discounts on products compared to what is available in their own country. This is particularly advantageous for consumers in regions where certain products may be more expensive or difficult to find locally.

Cross border e-commerce also offers retailers the opportunity to expand their customer base and reach new markets. By selling their products online to consumers in different countries, retailers can tap into new avenues for growth and increase their revenue streams. This is especially beneficial for small and medium-sized businesses that may not have the resources to establish a physical presence in multiple markets.

Moreover, cross border e-commerce promotes competition and innovation in the global marketplace. With more retailers vying for the attention of consumers around the world, there is increased pressure to offer high-quality products, competitive prices, and excellent customer service. This ultimately benefits consumers, who are more likely to receive better products and services as a result of this healthy competition.

However, despite the many benefits of cross border e-commerce, there are also challenges and limitations associated with this growing trend. One of the main obstacles is the complexity of international trade regulations and customs procedures, which can vary significantly from country to country. This can result in delays, additional costs, and other logistical issues for retailers and consumers engaging in cross border e-commerce.

Security and privacy concerns are also a major issue in cross border e-commerce. Consumers may be hesitant to share their personal and payment information with retailers based in other countries, fearing data breaches or fraud. Additionally, the lack of a standardized dispute resolution mechanism for cross border transactions can make it difficult for consumers to seek recourse in case of disputes or issues with their purchases.

Overall, while cross border e-commerce offers numerous benefits for consumers and retailers alike, there are challenges that need to be addressed to ensure its continued success. Efforts to streamline trade processes, enhance security measures, and improve consumer protection mechanisms are essential to maximize the potential of cross border e-commerce and foster a global marketplace that is safe, efficient, and inclusive.

Reference

  1. cedcommerce – https://cedcommerce.com/blog/cross-border-ecommerce-infographic/
  2. citcon – https://citcon.com/cross-border-ecommerce-statistics/
  3. europa – https://ec.europa.eu/eurostat/statistics-explained/index.php/E-commerce_statistics_for_individuals
  4. ecommercenews – https://ecommercenews.eu/25-5-of-ecommerce-in-europe-is-cross-border/
  5. thinkwithgoogle – https://marketfinder.thinkwithgoogle.com/intl/en_gb/guide/cross-border-ecommerce/
  6. syncee – https://syncee.co/e-commerce/predictions-cross-border-ecommerce-2021/
  7. unctad – https://unctad.org/news/global-e-commerce-jumps-267-trillion-covid-19-boosts-online-sales
  8. eteam – https://www.eteam.io/blog/cross-border-e-commerce
  9. invespcro – https://www.invespcro.com/blog/cross-border-shopping/
  10. shopify – https://www.shopify.com/enterprise/global-ecommerce-statistics

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