Consortium Aims to Make Cross-Border E-Commerce Simpler
June 13, 2013
Six companies late last week announced they have formed a coalition they believe will allow e-commerce retailers to take advantage of growing international markets and enable rapid cross-border expansion. The Global Retail Insights Network (GRIN) includes local currency and foreign exchange experts E4X, advisory service Edgar Dunn & Company, payments processor GlobalCollect, antifraud solutions provider Kount, delivery and logistics company Pitney Bowes and online translation experts Translations.com. Merchants can tap each company’s expertise and/or technology to solve a particular problem involved in expanding an e-commerce business internationally.
“Selling overseas is a huge and very real opportunity, but it brings real challenges with it,” said Carl Miller, GlobalCollect’s global market director for retail. “Localized marketing, payments, logistics, currency exchange and tax and duty compliance are just a few of the issues cross-border retailers have to deal with, and the Global Retail Insights Network was formed to create a strong coalition of proven experts to help retailers address those challenges.”
The global B2C e-commerce market surpassed $1 trillion in 2012, and is expected to grow 18.3 percent this year reaching $1.3 trillion, according to figures from eMarketer. The global market is expected reach $2 trillion by 2016.