Paypal has released its latest Borderless eCommerce report for 2022 which looks at the cross border eCommerce landscape. Since the pandemic and the current supply chain issues along with inflation and recession fears, it has left the eCommerce landscape more volatile.
The PayPal Borderless Commerce Report dives deep into 14 different markets and outlines what these changes are, and what they mean for eCommerce businesses.
The PayPal Cross Border Commerce Report
According to a survey carried out in the PayPal report 57% of the shoppers surveyed already shopped internationally and 42% of shoppers feel more confident with cross border shopping now than they did a year ago.
Three key shifts observed in the survey indicate:
- Changes in how consumers live and work influence how they buy: 46% of online shoppers surveyed prefer retailers that offer flexibility with the option to spread payments.
- Economic uncertainty is playing a leading role in what shoppers spend on: 57% of online shoppers surveyed spent more on products they could enjoy with friends and family.
- As shoppers started to re-evaluate what was important to them, the brands they chose and why began to change as well: 59% of shoppers surveyed are willing to pay more for brands they feel do give back to society.
The Borderless Commerce Report is fantastically in depth and covers 14 different markets and offers great insight to eCommerce businesses looking to expand their cross border sales.
You can download the full report here.
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