One-third of global e-commerce spend will be cross-border by 2028
Cross-border e-commerce is expected to exceed $3.3 trillion in 2028, according to a new study by Juniper Research.
In the next five years, cross-border e-commerce transactions will grow by 107 per cent globally while domestic e-commerce trade will rise by 48 per cent.
“With disposable income rising in developing markets, e-commerce merchants and marketplaces are pivoting towards them,” the research said.
The research found that in countries dominated by social-media advertising, leading vendors were effectively marketing directly to consumers.
“Cross-border merchants must therefore correctly identify the right social media and digital advertising channels in each market, or risk losing out in the battle for tech-savvy consumers.”
Likewise, they need to match consumers’ payment preferences in developing markets where alternative payment methods are in use such as mobile payment.
- Further reading: Consumers’ online spending falls $523.3 million