Visa for instance, holds the biggest market share in terms of credit card in Middle East & Africa. For many international enterprises, cross-border e-commerce processing is table stakes. Cross-border e-commerce is defined as a situation in which a customer located outside of a merchant’s home country purchases a product from said merchant, to be delivered across the border, to their destination address. With 52% of postal operators using data analytics, and another 17% planning to implement a platform within the next 12 months, it stated there is a tremendous opportunity for posts to leverage data analytics and AI-based technology in order to reduce costs and expand revenue opportunities. Cross-border ecommerce benefits both sellers and buyers. Studies also show that the importance of cross-border ecommerce will continue to grow since the Internet also enables smaller merchants to expand and enter new markets. Cross-border ecommerce is expected to reach $1trillion by the year 2020. Negosentro.com respects your privacy. Time to get yourself a slice of that pie, we say! Editor of Negosentro.com, Rover is a veteran content specialist and curator. The demand for... Negosentro is an advocacy blog site for Asians around the world to be well- educated about trends and events in entrepreneurship. "E-commerce trade volume reached about 1 billion yuan between January and September. Work smarter, not harder. A repute online ecommerce software solution provider can help you determine which payment methods you can have on your online store. Customer experience is definitely the key to strengthening the cross-border sales. Cyril Mc Grane, An Post’s Director of International Trade, said: “We are investing heavily in our cross-border e-commerce capability and Hurricane will play an important part in this. “Posts everywhere continue to demonstrate to the world just how essential they are, delivering critical packages, and preserving access to vital deliveries even under the most challenging circumstances. For inquiries, please send us an email at: advertise@negosentro.com or via chief@negosentro.com. "Cross-border e-commerce is an important way for us to publish new products. Increased Business Profits . Cross-border ecommerce simply translates into higher chances of selling your products. Where in the World is Ecommerce Growing Significantly? In these challenging times, brands that make the extra effort to enable a frictionless shopping experience for global consumers will win big in terms of loyalty and repeat sales. ZIM introduced Ladingo’s technology which is expected to improve logistics services to both sellers and buyers on China’s largest e-commerce platform. Brand awareness is the first point of validation in ecommerce and businesses are not unaware of it. So, while you are now aware of the benefits galore, cross-border ecommerce has in store for you, it’s also time to make few considerations before you hire an ecommerce mobile app builder or ecommerce software solutions provider for a top-notch online store. Despite COVID-19's impact, robust development in e-commerce has been a major boost for the local economy. The purpose of the digital strategy is to identify areas of your business operations that require additional resources, in order to successfully sell and compete in the cross-border ecommerce online sales channels. Additionally, the survey results indicate a continued need to manage growing postal e-commerce traffic with greater emphasis on the last mile and supporting retailers. Escher said that its research shows that the posts that will be best positioned for the future are those that invest in diversifying their channel mix and take advantage of artificial intelligence to collect and analyze data, improving the efficiency of business and providing more satisfying user experiences. At the same time, consumer behaviors and expectations are evolving. This year, the global online trade is expected to grow to a whopping $1.4 trillion.Cross-border e-commerce accounts for roughly 21% of that. The 5 th Global Cross-border E-commerce Summit, under the framework “New Tides in Qiantang River, Digital Trends along the Silk Road”, was held on November 24 and 25 in … Cross-border shoppers will be about 943 million by 2020. Accelerating digitalization can help small and medium-sized enterprises withstand the pandemic's affect on trade activities. “This year was one like no other and there is no denying that the world as we know it – at least for the foreseeable future – has changed drastically,” explained Nick Manolis, CEO, Escher. Respondents highlighted that investment in the parcels business over the next five years was the highest priority for postal operators, and also revealed a need to act quickly in order to capture the explosive growth in the parcel delivery market. How are adoption and penetration calculated? Careful planning and expert advice can make your life easy. © 2020 UKi Media & Events a division of UKIP Media & Events Ltd, Annual report highlights importance of cross-border e-commerce, Parcel delivery backlog looming if shippers ignore upcoming US data requirements, Geodis expands integration to Shopify and Amazon. Of the 268 million European online shoppers, 200 million have already ordered goods abroad at least once. For the UAE-based pizza delivery firm Freedom Pizza, fast processing times and the ability to scale up as its business expands across the Middle East and into Europe were … A desire for technology that drives cost efficiency and cross border e-commerce is a priority for postal operators, according to a new survey by Escher, which supplies software platforms for postal and logistics organizations. Our advertising, sponsored posts and advertorial rates are in US Dollars. Offering cost effective products which are in line with the preferences/taste of the people living in a particular country is the ticket to a progressively growing business. By continuing, you are agreeing to our use of cookies. This is what makes customers happy. Besides, for an online store that offers a pleasant and desirable shopping experience to its customers requires to be built by a professional ecommerce software solution provider company. The more the reach and customers, the higher is sales and revenue. The Cross border E commerce Market market research report provides essential statistics on the market position of the Cross border E commerce Market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry. In conclusion, the importance of personal contact and a good relationship with a brand are increasingly important in e-commerce. Over the past few years eWallets have also become quite popular. Cross-border ecommerce is the new buzz-word, enterprises across the globe are quite excited about. The new rules extend the scope of the Mini One Stop Shop scheme currently applicable to the B2C supplies of telecommunications, broadcasting and electronic (TBE) services to a One-Stop … It is a way to say goodbye to barriers of international trade. Cross border e-commerce purchases have resumed in many advanced economies, defying the negative impact of COVID-19 on global exports. By reaching out to your international clients/customers via cross-border ecommerce, brand awareness increases at minimum investment. It is easy to conclude that Cross-border ecommerce opens plethora of new avenues to ambitious businesses and assures an expansive global footprint; however, important considerations such as taxes/regulations, logistics/delivery, availability of the preferred payment methods and understanding of the local market is extremely important. Cross-border e-commerce has become a new growth and profits motor in the province's foreign trade. Understanding the local market of your targeted country, customs, culture and preferences/taste is also crucial to your cross-border ecommerce business. ZIM has signed a strategic agreement with Alibaba.com for the direct purchase of sea freight. 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While some contend that having a website makes the company international by default, successful cross border e-commerce takes more thorough planning. Its Future of Post survey is based on feedback from 129 respondents from 52 national posts services around the world and states that parcels and cross border e-commerce are taking precedence over traditional services such as mail. 66% of customers switch brands due to poor service. It is a way to say goodbye to barriers of international trade. The payment system of the store is directly connected to the customs clearance system and the Shanghai cross-border public service platform, and consumers can pick up the goods on the spot after waiting for the completion of customs inspection and customs clearance. According to the company, 83% of posts indicated that they had adopted a new solution or approach in order to adjust to the changed business environment created by Covid-19. ZIM says they have been targeting the e‑commerce sector by making strategic investments in companies that aim to streamline […] Cross border ecommerce is a phenomenon that has quietly gained huge momentum as customers purchase products from outside their borders. Significant VAT Changes For Cross-border E-Commerce From 2021. It is necessary to ensure that all transactions are legal and accepted in different currencies in order to have an internationally secure payment system. Now cross-border e-commerce markets are offering faster deliveries, high quality, and credibility. Timely and safe delivery of products is the backbone of any ecommerce business. People living in different countries have different payment method preferences. Cross-border ecommerce simply translates into higher chances of selling your products. Attracted to international brands by price, variety, and security offered in the online shopping experience, Latin Americans are increasingly looking outside their region for myriad goods and services. “The results from this year’s survey clearly show business priorities are moving toward initiatives that drive greater efficiencies, improve customer retention, and yield greater revenue opportunities.”. Cross border ecommerce allows businesses to showcase their range of products and earn trust of their target customers by providing good customer service and on time delivery. Cross-border e-commerce makes up 21% of the total global online trade. A repute. provider can help you determine which payment methods you can have on your online store. Negosentro.com  | The Best New Real Estate Agents are the Prepared Ones | So you’ve decided to pursue a career in real estate. For emerging ecommerce businesses, cross-border ecommerce is the way to increased business sustainability. The pandemic shifted buying patterns from international e-commerce sales channels in favour of purchasing from domestic e-commerce sources. 5 Benefits of a Tankless Commercial Hot Water System in Your... Commercial Building Inspection 101: What Inspectors Look For. Guaranteed means that it’s not about the promise of a great experience, but the actual great customer experience. On one hand while sellers get to sell their products to international customers without having a brick and mortar store in those countries. Cross-border commerce is the online selling of goods to consumers in different countries. To... Negosentro.com | Selecting the Best Crypto Broker | In the last couple of years, cryptocurrency has been the focus of public attention. In cross-border e-commerce, transaction speed grows in importance. It is a type of activity that includes the provision and storage of products in online stores established for cross-border e-commerce, on time and at affordable costs. Manufactuers, wholesalers and distributors across the globe are making the most of cross-border ecommerce to increase their client-base and profits and also to establish themselves as a reputed brand. There are age restrictions and what products can or cannot be delivered is also an important consideration while devising a cross border ecommerce strategy. Over the past few years eWallets have also become quite popular. Escher’s Future of Posts 2020 Report is available for download here. Share ideas and opportunities to the most underprivileged Asians; share ebooks and other publications that will allow them to embrace digipreneurship via email@negosentro.com. So, ambitious business owners are already getting in touch with cross-border ecommerce software solution provider companies to see an upsurge in business profits. Cross-Border E-commerce Platforms . You also need to consider the costing bit when it comes to logistics. Cross border ecommerce allows businesses to showcase their range of products and earn trust of their target customers by providing good customer service and on time delivery. Three reasons to consider a cross-border marketplace strategy. Receiving a product late or damaged is enough to drive away your customer and to tarnish your repute. Online trade between a business and end consumer (B2C) or between two businesses (B2B) from two different countries is called Cross-Border eCommerce. A set of legal notices were published on 2 June amending the Value Added Tax Act as regards cross-border sales of goods and services to final consumers. Currently, there are more than a dozen different Cross-Border e-commerce platforms in China covering every product category.