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A new study commissioned by FedEx (NYSE: FDX) and conducted byForrester Consulting has revealed preferences of online shoppers,both globally and in the UK In an effort to better understandglobal purchasing behaviour in cross-border e-commerce, researchersquestioned more than 9,000 respondents in 17 countries andterritories, and conducted interviews with small-and-mediumbusinesses with cross-border operations. The UK, along with Chinaand the US, are the top three exporters of online purchases.
With online buying behaviour currently representing more than $1trillion in global sales per year and forecasted to nearly doublein the next four years according to Forrester Research data, thefindings of the paper, “Seizing The Cross-Border Opportunity” arerevealing. For more than a third (34%) of UK online shoppers,online purchases account for at least a quarter of their totalmonthly spend. Clothing and apparel are the most popular onlinepurchase in the UK, along with books, footwear and music. The studyalso found a significant part of e-commerce involves cross-bordershipments.
“This research provides deep insight into the priorities andpreferences of global online customers and highlights how small andmid-sized retailers can better take advantage of the cross-borderopportunity”, said Raj Subramaniam, executive vice president,Global Marketing, FedEx. “Knowledge about both the culturalsimilarities and differences in geographic markets can helpbusinesses gain real online retail advantage.”
FURTHER UK RESULTS
70% of UK respondents indicated they buy items online at leastonce a month and a little over 35% say they make online purchasesof goods from merchants outside their country at least every fewmonths.
What all this means for small and mid-size businesses is theyalso have an opportunity to take advantage of regional differences.UK respondents look to international SME retailers because theprices are generally lower (41%), or to source specialty and uniqueitems (38%).
UK shoppers also indicated a greater interest in internationalcross-border shopping where the experience provided simpleexchanges, guaranteed costs at check-out including duties andtaxes, and free returns, with 45% saying this was very influentialto their decision making.
The top ten physical items purchased online in the UK are: