Why you shouldn't ignore cross-border eCommerce
This not only highlights the growth of eCommerce - but also that of cross-border eCommerce (i.e. where online shoppers buy from a company based in another country). I read recently - that cross-border eCommerce is predicted to reach $1 trillion by 2020. That's a shocking figure!
eCommerce businesses should therefore think about customer preferences outside of their home country. How people prefer to pay differs, not only from region to region - but from country to country.
Cash on delivery is huge in some markets. And in Brazil – up to 80% of online purchases are paid for by instalment.
As well as offering the right payment methods, there are some fairly simple changes eCommerce businesses can make to their websites, which will help convert more cross-border customers. Authentication certificates on the home page have a huge impact in some countries. Others are influenced by the amount of personal data they need to enter - or even the methods of online help available.
As internet penetration grows in emerging markets - and online shoppers become more savy - cross-border sales are only going to grow. So - ignore them at your peril.
If you'd like to find out more about how people pay, Worldpay recently examined payment trends across 30 markets in our Global Payments Report.