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Cross border online sales to increase 63% over festive period- report

International online sales are predicted to increase by 63% year-on-year (YOY) during November and December, according to data compiled by cross-border ecommerce firm eShopWorld.

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With retail sales falling and the UK scheduled to lockdown again from Thursday, these figures highlight the importance of cross-border selling to target non-domestic markets and meet demand at its point of origin.

ESW’s predictive model pulls data from 2018, 2019 and 2020 to forecast the most likely trajectory of current cross-border commerce trends.

The data forecasts:

• A 56% and 70% year-on-year increase in November and December respectively as the upcoming Peak Trading period is marked by unparalleled uncertainty • Although consumers began their Peak shopping earlier this year, the predicted increase in sales throughout November and December suggests that the ‘typical’ Christmas shopping season will be active, as always

With lockdown directives varying from market to market, cross-border ecommerce sales have remained at record levels. Data from ESW, which is the largest cross-border ecommerce provider globally, suggests a 56% and 70% year-on-year increase in November and December respectively as the upcoming Peak Trading period is marked by unparalleled uncertainty.

These latest figures follow recent predictions indicating international online sales would increase during October, as consumers shopped earlier for Christmas pulling sales forward and away from the traditional twin peaks of Black Friday and Cyber Monday.

Tommy Kelly, CEO, ESW commented: “We saw a 113% year-over-year increase in same-store global online sales in October and we’re confident the end of the year will follow the same pattern. Although consumers began their Peak shopping earlier this year, a predicted increase in sales throughout November and December suggests that the ‘typical’ Christmas shopping season will be active, as always. We’ve already seen many countries enter a second phase of lockdown, so we can see that the massive shift to online shopping is here to stay.”

The unprecedented growth of cross-border ecommerce sales is in contrast to figures detailed in the Confederation of British Industry’s (CBI) latest monthly distributive trades survey, which showed UK retail sales fell at their fastest pace in four months in October, from 11% to -23%, as people reined in their spending in the face of more coronavirus restrictions.

“Now is the time for UK brands and retailers to embrace the cross-border opportunity as addressing this customer demand has become a business necessity. The potential to grow sales, reach and brand loyalty is immense. Selling internationally not only means greater and more diverse audiences, but also additional opportunities to optimise marketing efforts to capitalise on multiple shopping events during the year, match seasonal inventory to local seasons, and meet market conditions on the ground, in an ever-evolving global market,” commented Kelly.

ESW is the largest cross-border ecommerce provider globally with the combined gross merchandise value transacted through its platform set to double in 2020 to nearly £1 billion.

Brands partnering with ESW can enter new international markets in as few as six weeks, up to six times faster than if they attempted to do so on their own – all while engaging directly with customers and retaining ownership of all the data collected during the shopping process.

Source: eShopWorld

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