Top 6 global eCommerce trends to analyze
March 21, 2022
If there's one thing all the data has to report, it's that global eCommerce is not an option, it's a necessity. Your company's future, and perhaps even its existence, depends on it.
Crossborderit will give you a list of the top global eCommerce trends:
Supply Chain Resilience
The impact of the COVID-19 pandemic on supply chains was a major disruption to global supply chains. For decades, the central features of supply chain management were:
- Low-cost supply
- Minimal inventory
When the coronavirus disrupted supply chains around the world, it led companies to focus on developing supply chain resilience, or thinking about ways to prevent supply chains from stopping and restore them quickly when they do.
Cross-border buy now, pay later adoption
The Buy Now, Pay Later (BNPL) trend shows no signs of slowing down.
Buy now, pay later will be everywhere at everyone's checkout time. As partnerships begin to form between BNLP brands, digital wallets and banks, BNLP will capture a significant share of the global payments market.
The metaverse and interactive shopping
Brands engage in virtual shopping and experience retail in virtual reality on different platforms. A supermarket, a 3D virtual world, eliminates consumer boundaries. People from all over the world can try products in the supermarket, no matter where they live.
More than 60% of global consumers surveyed say they have made a cross-border purchase in their lifetime. Nearly one in five say lack of language translation was a major barrier to shopping at a foreign site.
Going native with your site's language, beyond Google Translate, can make or break overall sales. Create a good customer experience from first impression to checkout.
The wholesale industry is going online
Last year we saw the evolution of B2B eCommerce, attracting the attention of buyers, sellers and investors around the world. Consumer-facing retailers and brands have been increasingly investing in third-party marketplaces around the world.
It used to be a challenge to expand to the rest of the world, but now thanks to technology this is easier. What are you waiting for to expand your business to other frontiers?