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A new study commissioned by FedEx (NYSE: FDX) and conducted by Forrester Consulting has revealed preferences of online shoppers, both globally and in the UK In an effort to better understand global purchasing behaviour in cross-border e-commerce, researchers questioned more than 9,000 respondents in 17 countries and territories, and conducted interviews with small-and-medium businesses with cross-border operations. The UK, along with China and the US, are the top three exporters of online purchases.
With online buying behaviour currently representing more than $1 trillion in global sales per year and forecasted to nearly double in the next four years according to Forrester Research data, the findings of the paper, “Seizing The Cross-Border Opportunity” are revealing. For more than a third (34%) of UK online shoppers, online purchases account for at least a quarter of their total monthly spend. Clothing and apparel are the most popular online purchase in the UK, along with books, footwear and music. The study also found a significant part of e-commerce involves cross-border shipments.
“This research provides deep insight into the priorities and preferences of global online customers and highlights how small and mid-sized retailers can better take advantage of the cross-border opportunity”, said Raj Subramaniam, executive vice president, Global Marketing, FedEx. “Knowledge about both the cultural similarities and differences in geographic markets can help businesses gain real online retail advantage.”
FURTHER UK RESULTS
70% of UK respondents indicated they buy items online at least once a month and a little over 35% say they make online purchases of goods from merchants outside their country at least every few months.
What all this means for small and mid-size businesses is they also have an opportunity to take advantage of regional differences. UK respondents look to international SME retailers because the prices are generally lower (41%), or to source specialty and unique items (38%).
UK shoppers also indicated a greater interest in international cross-border shopping where the experience provided simple exchanges, guaranteed costs at check-out including duties and taxes, and free returns, with 45% saying this was very influential to their decision making.
The top ten physical items purchased online in the UK are:
