According to a study by Accenture and AliResearch, by 2020 around 50 percent of Web consumers will purchase products across borders. This means that by 2020 there will be about $1 trillion dollars in ecommerce payments between borders. This comes as no shock considering that it was widely reported that global consumers were to continue spending money across borders at increased rates. A large portion of these global payments will be from China's growing middle class. According to Alizila, China's middle class is expected to grow to 630 million people by 2020.
What is fueling this growth?
The main source of the rise in cross-border ecommerce is the growing number of people in China with extra money to spare. According to the study, by 2020 there will be more than 200 million cross-border consumers in China alone. Another factor is that more ecommerce sites are focusing on cross-border sales and diversifying their businesses. This new focus could result in better products and customer satisfaction based on new perspectives and opinions on products. All of this work to reach new customers and create better products will ultimately mean higher revenues for cross-border e-retailers.
Mobile will be a big part of cross-border ecommerce
According to predictions by Criteo, mobile ecommerce sales will grow significantly as well. Around 40 percent of all ecommerce transactions that happen in 2015 will be done from a mobile device. This number is likely to grow as all kinds of ecommerce does. Obviously mobile shopper numbers will likely be higher in certain areas of the world that have the most mobile device users. Criteo says this rise in mobile shopping will adjust the way in which companies develop their apps. App development will be focused more on consumer engagement.
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