Leading brands are often global in reach, dominating market share and driving profitability. As local markets become increasingly competitive, national brands too are seeking markets beyond their boundaries.
Cross-border selling, in simple terms, is the buying and selling of goods and services internationally. While this appears simple, from a brand’s viewpoint, it requires seamless flow of orders and goods, as well as adaptability to local laws and currencies. Additionally, consumer and market insights and selection of suitable partners are critical factors for the success of this business model.
Global online retail sales are growing and is estimated to reach 8.8% of total retail spending in 2018, as compared to 7.4% in 2016. In terms of country, UK has the highest retail e-commerce sales as percentage of total retail sales (15.6%), followed by China (13.8%), Norway (11.5%), Finland (10.8%) and South Korea (10.5%).