European online cross-border sales will hit €40 billion by 2018, says Forrester
European online cross-border sales will reach €40 billion a year by 2018, growing at a compound annual growth rate (CAGR) of 11% over the five year period, according to a new report from Forrester Research. In her blog on the Forrester website, report author Michelle Beeson said yesterday (22 June) that the “key takeaways” from Western European Online Cross-Border Retail Sales Forecast 2013 were:
- the majority of online cross-border revenues will stay within Europe.
European online consumers who buy outside their home market are more likely to do so from another European market rather than those outside Europe.
- more retailers look for growth across borders, broadening the competitive landscape.
The number of EU retailers who sell online across borders will grow by a CAGR of 12%, with 28% of European online retailers selling across borders by 2018. eBusiness pros at retailers of different sizes and categories are actively pursuing valuable cross-border shoppers and international sales to drive growth.
- Local market context and maturity influence cross-border buying.
European cross-border buyers are disproportionally from smaller, less mature eCommerce markets like Spain and Italy; online buyers here look across borders for better.
