One of the ripple effects of the Covid-19 pandemic was the surge in e-commerce growth. According to Digital Commerce 360 estimates, “consumers spent $861.12 billion online with U.S. merchants in 2020, up an incredible 44.0% year over year.” One of the sub-stories of this e-commerce growth, however, is the continued rise in cross-border e-commerce. Based on estimates from the United Nations Conference on Trade & Development, cross-border e-commerce was $404 billion worldwide in 2018, accounting for 9.6% of B2C e-commerce sales. That was two years ago. It is safe to assume that the percentage today is over 10%.
How did the pandemic affect cross-border e-commerce? In the first half of 2020, after a slow start, cross-border online sales worldwide increased 21% compared to the first half of 2019, according to data from Global-e.
Source: https://www.digitalcommerce360.com/2020/07/28/global-cross-border-ecommerce-grows-21/
And according to a survey conducted by the International Post Corporation, as reported by Digital Commerce 360, “32% of consumers from 40 countries said they bought more in 2020 from online retailers in other countries because of the pandemic, and 51% said they plan to do more cross-border online shopping in the future.” the future of cross-border e-commerce is very bright.
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