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A survey found that nearly half (48%) of Americans who bought online from a foreign-based retailer last year did so at least once a month. Additionally, more than half (53%) have purchased products from China in the last 12 months. Outside of China, Americans buy products from Europe (33%), Canada (28%), Southeast Asia (21%) and Latin America (21%).
Commissioned by PayU, this survey of US consumers highlights the obstacles and opportunities for international merchants in promoting cross-border payment adoption in the US.
Looking at those who have never shopped online from abroad in the last 12 months, only a quarter (26%) of this group feel the need to support stores located in their home country. Therefore, it states that this is the reason not to do so. Furthermore, only 30% of those who have never shopped online from a foreign-based retailer said it was because they were able to get everything they needed from a US-based retailer. I’m here. These two perspectives present great opportunities for international merchants.
Nearly a third (29%) of those who have never shopped this way in the last 12 months said high shipping costs (including taxes) were a major barrier to shopping online from abroad. High shipping costs and complicated return processes (23%) were the main reasons for not shopping online for users aged 18-24 who had never shopped online from abroad, but in this age group he was 6 There were only 10%. I indicated that I could get everything I needed from local retailers.
Fashion, shoes and bags are the most popular items purchased by American consumers, with one-third (31%) having purchased or considered purchasing these products from abroad in the past 12 months said. This was followed by electronics (including mobile phones, tablets, laptops, computers, accessories and peripherals) (29%), books (26%), toys, hobbies and DIY (25%).
The survey also shows that payment methods are a key factor when American consumers make purchases from abroad, with 55% of Americans saying they would look elsewhere if their preferred payment method wasn’t available. I answer that I will either look for it or not buy it at all.
In addition, almost three-quarters (73%) of respondents said they felt safer buying online, whether domestically or internationally, if they were aware of the brand of their payment service provider. For 36% of those eligible, payment service providers influence their purchasing decisions.
The data also show that when shopping online with foreign-based retailers, the U.S. market is still relatively low on willingness to use buy now pay later, with 10 Americans making a purchase from abroad in the past 12 months. I also showed that only one person used this option. This compared to 55% of those surveyed who said they used credit cards most often.
Mario SyriashikiPayU Global Payments CEO said: This growing trend represents an ever more attractive opportunity for retailers to boost growth by expanding operations beyond their home countries.
To take advantage of this opportunity, it is critical that merchants have the right technology partner to navigate complex payment and logistics landscapes to deliver the best local consumer shopping experience. One of the important aspects is optimizing our ability to offer the most relevant payment methods in all the markets they serve.
Francis Bignell
