Cross-border e-commerce gains popularity in China

A new report from eMarketer forecasts the number of Chinese cross-border shoppers to grow by 61% between now and 2020.

With the appetite in China for goods from abroad growing, Payscout — a global payment processing provider — believes the Chinese cross-border e-commerce market represents a huge opportunity for small businesses.

The company's CEO Cleveland Brown said in a press release, “We encourage small to medium-sized businesses in particular to prepare themselves for taking advantage of the growing Chinese appetite for goods from abroad.”

A growing market
The cross-border e-commerce boom in China is only a part of the growing global trend. Here are the numbers:
  • $1 trillion — The predicted value of the global B2C ecommerce market in 2020; this figure was $230 billion in 2014, according to Payscout
  • $245 billion — The expected transaction volume of imported goods purchased online by Chinese consumers by 2021
  • 900 million — The number of people globally who will be international online shoppers; their purchases will account for 30 percent of global B2C transactions, according to the Accenture-AliResearch report
  • 70% — The growth in cross-border digital shopping in China in 2015
  • 25%— The percentage of the Chinese population that will be shopping on foreign-based websites or through third parties by 2020, according to eMarketer

Tags: china, cross-border

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