Report: 80% Find Cross-Border E-Commerce Profitable, China an Underappreciated Opportunity
Oct. 23, 2014
Nearly 80 percent of e-commerce merchants found that selling their products or services into international markets other than their own has been profitable, according to the results of a new survey from CardNotPresent.com and Payvision. More than 32 percent of respondents agreed and more than 45 percent strongly agreed that selling overseas has generated profits for them.
The second annual Key Business Drivers & Opportunities in Cross-Border E-Commerce 2014 also found there is an untapped opportunity for nimble companies entering the Chinese market. The report noted that the sheer number of people in the Asia Pacific region compared to its regional contribution to global e-commerce indicates the huge potential value of this region and China in particular. The opportunity, however, is not backed up by international merchants eager to expand into the Chinese market. Thirty-one percent said they focus their cross-border efforts on emerging markets in general and only 18 percent said they were looking toward China.
“These results indicate a potential gap in the market for overseas expansion into China,” the authors said in the report. “In light of the huge growth, with the right knowledge, now may be the time to tap into the Asian powerhouse with less competition from foreign businesses.”
The report, which analyzes every major region in terms of its cross-border e-commerce potential opportunity and unique challenges, also found that the growth of m-commerce, rather than regulation, security concerns or other factors, was the biggest game changer for those hoping to sell beyond their borders.