While much attention is placed on optimizing channels for existing customers, many merchants are keen on growing sales by opening up in new geographies.
And no wonder, as stats from the Cross-border eCommerce Community (CBEC) show cross-border eCommerce sales are expected to reach $1.4 trillion in 2015. As the world becomes more connected, it is becoming increasingly important for merchants to ensure their ecommerce sites are optimized to welcome shoppers from other countries.
But as merchants prepare to make their goods available globally, it is essential to understand which factors are important to consumers when shopping a cross-border website and what a merchant can do to improve their chances of converting the sale.
PYMNTS.com and Digital River set out to understand the extent to which merchants around the globe are prepared to support cross-border commerce. With analysts on four continents, we are researching hundreds of eCommerce sites headquartered in 10 countries across the globe. We are tracking dozens of measures, including features like language and currency selection, support of local payment options and the extent to which these and other site features are automated or prompted based upon the shopper’s location.
In the coming weeks, we will release the first global study on cross-border payments friction, the X-Border Payments Optimization Index, powered by Digital River.
– Which countries are leading the way in cross-border payments?
– How do large and small merchants compare on functionality?
– Which industries are falling behind on adjusting to local consumer needs?
With this data, merchants can compare their eCommerce site capabilities with their peers. Ultimately, we intend to deliver a resource that merchants can come to rely on for setting global expansion goals, prioritizing feature enhancements, and benchmarking performance.
Click below to subscribe today and we’ll make sure you are the first to receive the X-Border Payments Optimization Index as soon as it is published each quarter.