Most figures concerning international eCommerce show positive growth. While US eCommerce growth may slow, it’s fairly certain international market demand will continue to increase for the next several years.
A few reasons for growth include improving infrastructure, brand and international cachet, and consumer demand.
Marketingland.com published an article earlier this year explaining these catalysts for growth.
Improving Infrastructure: With broadband access available to 94% of the population, Americans are accustomed to high-speed Internet access — but it’s not a given in other countries. Many Australians, for example, are still constrained by slow Internet connections. However, the National Broadband Network will change this over the next several years by ensuring no business or home in Australia is without a high-speed connection. Australia is just one example of how technology will drive new e-commerce opportunities. As more countries improve their IT infrastructures, we’ll see an increase in online shopping.
Brand & International Cachet: Consumers are attracted to big-name global brands as well as the cachet of buying a product from another country. The Forrester study noted that consumers tend to place a higher value on products from another country.
Consumer Demand: As the world continues to flatten, demand for international products is increasing. Here are some interesting data points along those lines:
- The aforementioned Forrester study conducted a survey of more than 2,500 online shoppers throughout the countries cited above as well as the United States. Of those consumers, 68% reported that in the past 12 months, they purchased an item online from a company located outside their home country.
- Of that 68%, three times as many shoppers plan to increase their percentage of e-commerce imports than those who plan to decrease it. What’s more, this ratio increases 9:1 among Brazilian shoppers.
- Breaking these numbers down even further, 75% of UK shoppers, 78% of Australian shoppers and nearly 85% of Canadian shoppers have purchased goods from another country.