International online shopping estimated at $307 billion!

 

 

An interesting study, named “Modern Spice Routes, The Cultural Impact and Economic Opportunity of Cross-Border Shopping” conducted by Paypal reveals some interesting statistics.

The six biggest markets, including the US, UK, Germany, Australia, China and Brazil are expected to triple in online shopping, from $105 billion in 2013 to $307 billion in five years.  With an estimated 94 million cross border customers its never been more important to be International and localize online offering from translating websites and marketing material to e-commerce functionality to allow easy purchasing.

With the boom in internet powered shoppers and an international market to purchase from the “modern spice routes” are truly offering local merchants the ability to tap into a global audience.

Chinese cross border shoppers

Out of the biggest markets, China is certainly booming in online cross-border transactions and with 18 million Chinese customers estimated to spend RMB 216 billion (approx. $35 billion) this year, China is a market not to be missed! The study reveals the top five cross border purchases for the Chinese market include:

1.  Apparel & accessories (RMB 22.0 billion)

2.  Health & beauty products (RMB 17.6 billion) 

3.  Computer hardware (RMB 13.5 billion)

4.  Jewellery, gems & watches (RMB 13.1 billion) 

5.  Personal electronics (RMB 12.9 billion)

With the growth in China over the next 5years expected to hit 35.9 million online cross border shoppers expecting to spend RMB1 trillion its worth translating websites into Chinese!

With International online shopping expected to increase globally for all regions its never been more important to ensure a good website translation and localizing your content and services for International customers.  Appealing to cross border audiences requires understanding of the target audience and cultural buying habits.  At Kwintessential Arabia we offer the services to ensure you sell successfully to the growing cross border shopping community.

Contact Us now for a free consultation on how Kwintessential Arabia can help you.

 

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