According to research from FedEx, ecommerce accounts for more than $1 trillion in global sales per year, and is expected to almost double over the next four years.
Forrester Research – who conducted the research on behalf of FedEx – also found that the UK, China and the US, are the top three exporters of online purchases.
The report, “Seizing The Cross-Border Opportunity”, found that for more than a third (34%) of UK online shoppers, online purchases account for at least a quarter of their total monthly spend. Clothing and apparel are the most popular online purchase in the UK, along with books, footwear and music.
Some of the other key UK-specific findings of the research were that 70% of UK respondents shop online at least once a month and 35% say they make online purchases from overseas merchants “at least every few months.”
UK shoppers also indicated a greater interest in international cross-border shopping where the experience provided simple exchanges, guaranteed costs at check-out including duties and taxes, and free returns, with 45% saying this was very influential to their decision making.
One of the report’s other conclusions is that while shipping cost and delivery time are important, 35% of global respondents cited import duties as a concern for cross-border shopping.
“The results of this study on global trends suggests that streamlining regulations by harmonising duty-free limits across the globe could result in a significant uptick in cross-border trade, benefitting consumers and businesses around the world,” said David Cunningham, chief operating officer, International, FedEx Express.