By Krzysztof Waligorski, Senior Strategist at FITCH
Today’s online shoppers are increasingly looking outside of their country’s borders for purchases.
In our global economy, we’re able to buy items from anywhere in the world at any time. Whilst I might want to buy conveniently from a retailer in my own market, the exclusivity, availability and sometimes even cost of certain items means that shopping internationally can often be an attractive option.
Take holidays and festive seasons as an example: whilst UK high streets struggled over the Christmas period, data from cross-border solutions provider Global-e showed that cross-border e-commerce sales were up 31%.
Sales are poised to exceed $900bn by 2020, up from $300bn in 2015 – an impressive 25% annual growth rate....