Today’s businesses have the opportunity to trade internationally in other countries. As a retailer, cross-border e-commerce is the sale of goods and services to an international audience through an online shop. Cross-border e-commerce can be between a retailer or brand and a consumer (B2C), between two businesses (B2B), or between two persons (C2C). In this article, we want to explore and learn more about the impact of the growth of cross-border e-commerce on the relationship between businesses and consumers.
The growth of international e-Commerce
In the last year, the Covid-19 pandemic has had a huge effect on the growth of e-Commerce. With many restrictions on physical retail locations and with many spending more time at home, this is not particularly surprising.
Technological advances in connectivity have helped global e-commerce grow, with mobile set to account for more than half of global online traffic by early 2021. Mobile commerce is now a normal way for many consumers to purchase goods. This trend will continue to grow in cross-border markets as e-wallets and simple global payment solutions such as PayPal, Google Pay and Alipay are accepted, alongside credit card and bank transfers for many online retailers.
The strength of logistics and delivery management companies has also improved the way we receive goods and the timeframe in which they are delivered. As more and more companies offer a range of parcel delivery services, consumers have more control over their deliveries, ensuring flexibility around their lives and when and where goods are delivered, working around their lifestyles.
As online retailers focus on creating solutions that work for the local markets they sell to, improvements in sales are likely to follow.
International opportunities for e-Commerce businesses
When considering how to expand sales globally, it is useful to assess the size and opportunity of the cross-border market in terms of the following, in addition to finish and price. These elements can help with market focus by country and help shape your cross-border strategy.
Gross Domestic Product
The GDP of each country is a monetary measure of all goods and services each year. GDP will give an idea of how the country’s economy is performing.
Consumer spending
The average consumer spending per person. This can help to understand consumption patterns and willingness to pay for goods and services.
Population
Understanding the overall population by age and demographics will give a clearer picture of the size of your desired audience in your target market. It can also help to compare each target group with national preferences for digital commerce.
Urban population
Analysing the size of urban versus rural areas will provide an understanding of both the accessibility of physical services and the impact of the accessibility of cost and logistics elements.
Wishful conducted research on buying habits and trends in cross-border purchasing before the Covid-19 pandemic fully impacted the UK.
Research into consumers’ perceptions of the advantages and disadvantages of cross-border shopping showed that their main concerns were longer delivery times and the uncertainty of receiving the goods they purchased.
With the understanding of consumers’ prudent e-Commerce retailers, we are able to create more cross-border sales by countering these disadvantages with up to date product descriptions, images and reviews and give clear delivery estimates to the customer.
Cross Border E-Commerce with Wishful
Wishful is a service company that offers a wide range of advertising services, collaborations on online and offline planning and digital payment options in Europe. Together with our subsidiary companies in China for B2B, B2C and Cross-Border Ecommerce is an important leader in serving European customers.
With our rich experience, not only do we make the payment process simpler for our customers, but we also effectively support their business.
The company has also established a deep partnership with TIKTOK（DOUYIN), becoming the top agency for advertising announcements. Thanks to the popular live streaming channels with real-time controlled advertising management, your brand sales will be always kept monitored.
