You see, cross-border e-commerce is set to boom. A new DHL report predicts that retail volumes will increase at an annual average rate of 25% until 2020. That’s faster than a dog licking a dish.
‘The 21st Century Spice Trade: A Guide to the Cross-Border E-Commerce Opportunity’ tells us that cross-border e-commerce offers aggregate growth rates not available in most other retail markets. In fact, twice as fast as domestic e-commerce growth. That’s cheetah-quick.
Online retailers can skyrocket sales by 10-15% by selling cross-border. That’ll be because there are a lot of people to sell to across the sea.
You can also boost sales with a premium service offering: businesses with a faster shipping option grew 1.6 times faster on average than other companies. Here at PBP, we’ve analysed this and decided it’s because people want stuff to arrive quickly.
Growth is also occurring outside the three biggest spice-route supply markets – the United States, United Kingdom, and China. Key areas include Asia (Singapore, Hong Kong and India) and Europe (Italy, Spain, France, Germany). Growth rates are up to three times higher than the global average.
“Shipping cross-border is much, much easier than many retailers believe, and we see every day the positive impact that selling to international markets can have on our customers’ business growth,” said Ken Allen, CEO, DHL Express.
“We also see that virtually every product category has the potential to upgrade to premium, both by developing higher-quality luxury editions and by offering superior levels of service quality to meet the demands of less price-sensitive customers. The opportunity to ‘go global’ and ‘go premium’ is there for many retailers in all markets.”