PayPal and Ipsos, have launched a new e-commerce report the Cross-Border Customer Research Study 2018. The report, which examines the online shopping habits of around 34,000 customers in 31 nations, exposes a healthy e-marketplace.
More abroad consumers are buying online from UK organisations than any other country in Europe, with British products in high need amongst foreign shoppers. The international research study discovered that 1 in 7 (14%) of worldwide online buyers have actually purchased products from the UK in the past 12 months.The next popular
destination in Europe is Germany, with 1 in 10 (10%) worldwide e-commerce buyers purchasing from this nation. Europe’s leading 5 online exporters are:
- UK
- Germany
- France
- Italy
- Netherlands
The United States is the biggest export market for UK e-commerce services. Consumers from the US bought an estimated ₤ 12.5 billion worth of items from the UK in the past 12 months– more than any previous year.China has actually been recognized as another crucial market for UK online organisations, purchasing an estimated ₤ 5.7 billion worth of items in the past 12 months.The brand-new research also exposes the value of European markets to British exports, with cross-border buyers in France, Greece, Ireland, Italy, Norway, Spain and Sweden all picking the UK as one of the ‘leading 3’ countries to purchase from.Why do customers shop abroad?The main reason that buyers purchase from foreign countries is to look for a bargain, with 7 in 10(72% )respondents who shop cross-border suggesting that they purchase from other countries since of less expensive prices.The fall in the pound following the EU referendum, PayPal’s data recommends, has made UK products a lot more appealing. Other reasons that customers shop online worldwide instead of
in their own nation consist of: Due to the fact that certain items are not readily available in their own country (49% )To find new and interesting products(34%)Because item quality is greater from overseas(29 %) Due to the fact that shipping expenses are cost effective(
electronics(53%)Toys and pastimes(53%)
Jewellery and watches( 51% )Cosmetics and appeal items(46%)What channels do customers utilize for shopping?The bulk of online purchases are still made via desktop or laptop– but smartphone shopping is fast catching up. Across Europe and the United States, the percentage of
made an online purchase in the previous 12 months by means of
smartphone, whilst in China this figure is 84%– the greatest of all markets surveyed.Nicola Longfield, director of small company at PayPal UK, said:” As growth in the UK economy remains modest, it’s time for all British businesses to open their doors to the global shopper.”International shopping is increasing at a rapid pace, and this research study
highlights the little modifications that companies can make to catch more worldwide sales. If you set a border around your business, you are basically a limitation on your sales.” Shoppers from Austria to
Australia, Belgium to Brazil have all purchased from UK online companies in the past 12 months. With the UK punching above its weight and leading Europe when it concerns global e-commerce, we hope that other companies are encouraged to offer their items online and overseas.” Barriers for customers who go shopping online A quarter of global cross-border buyers(25 %)mentioned shipping costs as the top barrier to purchasing from global sites; whilst half of online buyers said that they would not feel comfortable purchasing from a foreign site in a different language (57%)or paying in foreign currency(47 %).
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