October 20, 2016
Nearly two-thirds of consumers who have made a domestic online purchase have made an online purchase from another country in the past year, according to a new report from Pitney Bowes. Consumers in the Asia/Pacific region are more likely than anywhere else in the world to be cross-border shoppers. The report found that Singapore (89 percent), Australia (86 percent), and Hong Kong (85 percent) have the highest number of consumers who shop outside their borders. More mature e-commerce markets like the U.S. (45 percent) and Japan (34 percent)—presumably with more domestic options—have a smaller share of online shoppers who made cross-border purchases in the past year.
“Consumers across the world have spoken. We have moved beyond the days of marketplace or retailer; in-store or online; or even in-country or cross-border,” says Lila Snyder, president of Global Ecommerce for Pitney Bowes. “The world is shopping—everywhere—as new consumer behaviors and trends have emerged. Entering the holiday season and a new year, retailers and marketplaces alike should take note and capitalize on these shifts in consumer behavior, which open up new opportunities for brands and retailers at home and abroad.”
Credit cards are the most preferred payment type for cross-border shoppers, the survey found, but less than half of those polled (45 percent) identified them as their top choice. Thirty-four percent said they preferred some type of e-wallet (e.g., Paypal or Alipay). The most important factors to consumers when selecting how to pay for a cross-border purchase were services fees/total cost of purchase (identified by 33 percent), value of the purchase (25 percent) and offer of a purchase protection plan (25 percent).