“Global Cross-Border B2C E-Commerce 2021” summarizes the key trends and projections of Cross-Border B2C E-Commerce market during the COVID-19 pandemic in 2020.
The report discloses that in 2020 the majority of online consumers preferred international online shopping over the local due to a greater variety of products and reasonable prices.
Cross-border B2C E-Commerce market value was projected to grow steadily by 2026
Despite the projected decrease in global cross-border payments from 2019 to 2020 by 8%, after the COVID-19 onset, the overall cross-border B2C E-Commerce market value was forecasted to surge by 30% from 2019 to 2026. Furthermore, in Europe, along with the increase of the value of cross-border B2C E-Commerce, the growth rate was predicted to surge as well by 2022.
Amid the pandemic in 2020, the most popular segment to shop was “fashion”
In 2020, the most common product category in cross-border online shopping was “fashion”. Particularly, in South Korea this was the most popular type to purchase from abroad, along with “beverage & food” based on the value in 2020. Although in Australia, the same product category was ranked as the most purchased, the “games & toys” segment was the top shopped in as well. Other than these categories, “cars & motorcycles”, “music”, vehicles and video related goods were also among the…