Report: Cross-Border eCommerce on the Rise Worldwide
11-19-2019
A recently released report from Payoneer Inc. has found that the third quarter of 2019 (Q3 2019) saw impressive growth worldwide in ecommerce revenues cross-border.
According to Payoneer’s Global Seller Index: Q3 2019 report, cross-border ecommerce revenue grew by 49 percent in the United States, putting it second in the top ten countries by revenue. The United Kingdom, fourth in overall Q3 revenue, grew 56 percent year-over-year, good enough for the top spot for cross-border ecommerce growth.
Ukraine grew 52 percent year-over-year, the second highest growth rate, while China – the number one country by overall revenue – grew by an impressive 33 percent year-over-year. Japan had the lowest year-over-year growth, registering only three points higher than last year, but it still occupied the seventh spot in the top ten countries by overall revenue.
According to the report, analysts are expecting a 35 percent increase in cross-border ecommerce sales this holiday season; sellers are expecting another record-breaking year due to increased consumer access and growth in the seller community. Cross-border ecommerce over the holidays is expected to increase 95 percent in the United Kingdom alone, the report found.
Click here to read the report.
About ETA
The Electronic Transactions Association (ETA) is the global trade association representing more than 500 payments and technology companies. ETA members make commerce possible by processing more than $6 trillion in purchases in the US and deploying payments innovations to merchants and consumers. Learn more: www.electran.org.
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