The state of global cross-border e-commerce report 2023/24
Reuters Events is pleased to provide you with this global report, The state of global cross-border e-commerce report 2023/24, produced in partnership with Avalara.
A whopping 94% of respondents said they encounter delays as a result of incorrect classification and documentation. These delays are hugely costly as global consumers value speed, convenience and reliability of deliveries behind only cost.
Key trends explored in the industry survey and analysis:
- Cross-border e-commerce is rapidly growing, and although growth will be dampened slightly this year by the economic outlook and a come-down from pandemic spending, the long-term prospects are strong, with a high probability that the total value of trade crosses $1 trillion in 2023.
- Regions outside of North America and Europe are leading this expansion as e-commerce diversifies. Growth expectations and the share of sales derived from cross-border e-commerce are higher in Asia-Pacific, Latin America, the Middle East and North Africa.
- Cross-border transactions continue to challenge most organisations. Compliance and cost are the two main concerns.
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