Regional dynamics reshape cross-border e-commerce growth plan, three words to solve the market selection problem thoroughly

Regional dynamics reshape cross-border e-commerce growth plan, three words to solve the market selection problem thoroughly

Three sentences to completely solve the cross-border e-commerce market selection problem: Western Europe is still the world's preferred target market (34%), the UK 41% retailers are locking into Western Europe, Eastern Europe and North America are 23% and 22% respectively, but 28% retailers are not yet sure about the target market.

This new study from Asendia reveals strong regional strategic shifts. For example, Chinese retailers are shifting to East Asia (42%) and the Middle East (38%), while U.S. brands tend to target Canada (47%) and South America (24%) for growth. The political tensions could prompt some retailers to rethink their cross-border strategies, a sign to watch closely for cross-border sellers looking to enter international markets.

In terms of sales channels, regional differences are also evident. What gets in the way of seeing the big picture is the dominance of online marketplaces in Asia Pacific, such as Korea and Hong Kong, while own e-commerce sites remain strong in Europe and the UK. Of the 250 UK respondents, 43% sell through their own websites and 38% use online marketplaces. Only 18% sell through social commerce, which contrasts sharply with the Asia-Pacific region, where 42% retailers sell through these channels.

Globally, 35% of retailers are investing in faster delivery capabilities, but this falls to 29% for UK retailers, who are placing more emphasis on the need for artificial intelligence and automation (30%). This suggests that UK brands will be upgrading to smarter product recommendations, chatbots and automated customer service in the coming year.

The biggest issue is that transparency will be the determining factor for long-term success. 40% of UK retailers are feeling the pressure to meet sustainability standards. A similar proportion (43%) said that the biggest barrier to implementing sustainability measures in cross-border commerce was the "high costs associated with sustainability options". A third (31%) said they had difficulty "aligning sustainability objectives with customer expectations".

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