https://www.storehippo.com/
9th Floor, Spaze iTech Park, A1-Tower, Sector-49 Sohna Road, Gurgaon, Haryana 122018, CIN - U72200HR2015PTC054459 122001 Gurgaon IN
StoreHippo
9th Floor, Spaze iTech Park, A1-Tower, Sector-49 Sohna Road, Gurgaon, Haryana 122018, CIN - U72200HR2015PTC054459 Gurgaon, IN
+918010117117 https://www.storehippo.com/s/5667e7d63086b2e718049ad9/ms.settings/521c4d7548c284890e000001/594a155440e9fb9e592f2ba9-480x480.png" [email protected]

Ecommerce Insights - 13

How cross border eCommerce can help enterprise brands solidify their global presence

Ecommerce has opened up commerce beyond boundaries for enterprise brands. With research clearly indicating the unprecedented growth of ecommerce across borders, this is the opportune moment for enterprise brands to plan their expansion and go for international ecommerce. While buyers are buying a variety of products from foreign ecommerce stores the top industries for cross border global ecommerce are fashion, IT and mobile phones, books, music, travel and event tickets. Non-availability of branded products in their own country, better prices and fast international shipping are the key factors that nudge online buyers towards cross border e commerce. With the pandemic push, buyer segments that never shopped online have also started shopping online. International brands that implement localization along with globalization and place their products in international ecommerce markets with the right marketing strategy can reap rich dividends.

Cross Border Ecommerce Insights

  • $2.25 trillion is the expected value of the cross border e-commerce market by 2026

  • ~4X growth in international cross border ecommerce market value from 2019 to 2026

  • 27.4% is the CAGR of global cross-border ecommerce from 2018-2027

  • $4.8 trillion estimated reach of global cross-border B2C ecommerce market by 2027

  • 22% of online sales come through cross border ecommerce in 2022, up from 15% in 2018

  • 67% of online buyers contribute at least 10% of their monthly online spending on foreign sites

Source: Statista, eMarketer, Zion Research

Cross Border Ecommerce Shopping Trends

  • 70% of ecommerce buyers have recently made a purchase from a foreign site 

  • 35% of online buyers shop regularly from global ecommerce stores based outside their country

  • 67% of global cross-border online buyers purchase from foreign sites because of lower prices outside of their own country 

  • 65% of cross border e commerce buyers prefer content in their native language

  • 80% of retailers worldwide agree that cross border e commerce is profitable

Source: eMarketer, Invesp

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FAQ

Yes, StoreHippo offers complete global ecommerce solutions for businesses looking for international expansion. You can build a network of global stores for different countries using the multi store ecommerce solution. You can also add location specific themes, currencies, languages etc on each of these stores.

With the right features and tools from StoreHippo, you can implement localization along with globalization. For example, you can offer multi-currency payments, let customers choose their preferred payment channels, integrate with global shipping partners etc. on your marketplace and cater to global customers from different geographies.

Yes, you can create country specific stores with StoreHippo. The multi store ecommerce solution enables you to create stores based on different locations and reach out to targeted customers. You can also offer location specific deals to your customers.

Yes, StoreHippo offers powerful features that make it easy to convert your store into a multilingual global ecommerce site. You can get your website translated into 100+ languages using easy to use multilingual ecommerce solutions.

Yes, StoreHippo allows you to gain loyalty among your global clientele with its multi currency options. You can choose from unlimited currencies from around the world and also get IP based auto-switch to native currency with powerful inbuilt location and currency detector.

Yes, with StoreHippo, you can set different prices for customers from different countries with the price override functionality. You can list the same products at different prices depending on the location or the deal offered at each store.

Yes, StoreHippo offers a separate vendor dashboard for each vendor from the same or different countries. It provides an easy understanding of the inventory and order status.

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