Cross-border e-commerce refers to buying and selling of goods and services via the internet across international borders. It allows consumers to purchase products from international retailers and have them delivered domestically. Various advantages associated with this model such as access to wider range of products, competitive prices, and doorstep delivery have driven its popularity worldwide. Moreover, the growing trends towards social media marketing and rise of third-party logistics providers are projected to create new opportunities for players in this market over the coming years.
Market Dynamics:
The global cross-border e-commerce market growth is driven by factors such as the growing preference of consumers for online shopping due to the convenience it offers, increasing smartphone and internet penetration worldwide, and stringent regulations regarding cross-border trade. Moreover, developments in digital technologies, integration of physical and online shopping experiences through innovative business models, and emergence of social commerce are expected to present lucrative growth opportunities. However, challenges pertaining to duties and taxes on international purchases, language barriers, currency fluctuations, and returns policies act as major restraints to the market growth. Additionally, security threats associated with digital transactions and lack of fulfillment capabilities in under developed regions also hinder the market expansion to some extent.
Key features of the study:
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