U.S. eCommerce retail growth dipped slightly in 2018, and 40% of 2018’s $517 billion in domestic online retail sales went to Amazon.
How can smaller USA eCommerce retailers compete and grow their businesses? One option is to sell their products on Amazon and other marketplaces in addition to their online stores. But there’s another option that many US online retailers ignore: xborder eCommerce.
Right now, only 36% of US ecommerce merchants sell across borders, but cross-border sales offer an opportunity for growth. Even with low rates of cross-border sales now, the U.S. is second only to China as a destination for international online shoppers. And cross-border growth rates for the next several years range from 10% in the U.S. to 30% in Europe, according to PaymentsSource. Worldwide, the B2C cross-border ecommerce market is expect to be worth $1 trillion by next year.