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~ eShopWorld~

GLOBAL

GROWTH:

STEADY

DEVELOPMENTS

OF THE ONLINE

MARKET

Text: Nico Hoeijmans // Photos: iStock

Over the years, it has become significantly easier to buy products and services from anywhere
in the world. Having it on your doorstep within only a few days is realised by an increasing
amount of e-commerce entrepreneurs, too. For domestic orders, that might not come as a
surprise, especially in mature markets. However, upcoming markets are also increasingly
focused on e-commerce and service demands and levels are rising. As the growth of online
markets continues, both sales of global e-commerce and cross-border e-commerce are

expected to steadily increase.

he cross-border shopping market When looking at just the cross-border sales figures, it can be
An upcoming report on emerging markets and in- concluded that cross-border e-commerce sales are valued at
Tnovations in cross-border e-commerce predicts that $826 billion in 2019. This figure is expected to increase, just
global physical e-commerce sales will be valued at $2.02 like the global e-commerce sales figure. For 2020, total cross-
trillion in 2019. The report, compiled by eShopWorld, sug- border sales are expected to rise to $994 billion (+20%).
gests that this will increase to $2.86 trillion by 2023. That
means online shopping will realise global growth of more The US and China remain the biggest markets in terms of
than 40% in five years. Currently, the Chinese market has cross-border online spend, but Japan and India are grow-
the largest share overall in this enormous amount of sales. It ing fast. Cross-border online shopping is most prevalent
accounts for $740.42 billion (40%) currently in 2019 and is in Ireland, Austria and Israel, where 65%, 71%, and 64%
expected to maintain its leading position. of shoppers, respectively, purchase both domestically and

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