The UK cross-border retail to outpace domestic by four fold in 2020
The UK cross-border is set to be the largest net exporter, outpacing domestic trade by four-fold by 2020, says analysis Cracking the World’s Largest Ecommerce Markets by PayPal.
According to the report, international commerce in the UK is set to be worth £28 billion next year.
The report says that UK sellers cross-border success will require them to be locally relevant in some of the world’s largest and fastest growing ecommece markets. The US, China and Germany represent expansion opportunities for UK merchants to access via ecommerce.
The UK sellers rank #1 and #2 in overseas markets
Marketplaces are winning in China
China has a unique ecommerce ecosystem requires a markedly different approach to succeed
This news highlight a cross border opportunity for UK sellers. Cross-border merchants will often find that shoppers’ preferences influenced by culture, local trends and solutions differ from domestic buying expectations. Sellers need to study the market they plan to expand into so that they can deliver a personalised approach for overseas shoppers without sacrificing their business model aimed at home consumer.