Furthermore, just 13 per cent have plans to start selling to shoppers in the US in the future. This is according to a survey by cross-border e-commerce specialist Global-e, which highlighted the US as one of the largest and most sophisticated e-commerce markets in the world. Online sales reached $341.7bn in 2015, a 14.6 per cent increase on 2014, and by 2019 the North American e-commerce market is expected to reach $579.9bn.
Why should UK businesses target the US?
Earlier this year, a bill was introduced in the US which raised the level at which import taxes are applied from $200 to $800, making it considerably cheaper and often tax-free for US shoppers to purchase from foreign merchants online. Coupled with the pound’s all-time low, now would be the optimum time for British retailers to target the US. American shoppers are increasingly shopping across borders, and 54 per cent of frequent online shoppers have bought at least one item from a retailer outside of the US, according to research by Comscore.
Things to consider
US shoppers may not feel confident making a purchase if the store doesn’t offer prices in US dollars; in fact, according to Global-e’s data, 99 per cent of US customers prefer to pay in their own currency. US consumers are also more likely to make a purchase from a site that will provide local returns, multiple shipping options at attractive rates, and guarantee no additional taxes or costs upon delivery. “Most retailers fail to offer overseas customers their local payment methods, localised pricing or multiple shipping options at attractive rates and local return options – which impacts conversions abroad. Retailers must streamline the customer experience by providing localisation, this needn’t mean building a standalone website from the outset or negotiating deals in every market,” said Nir Debbi, CMO and co-founder of Global-e. “Retailers can achieve this high standard without investing heavy time and money into the process by working with specialist partners to achieve the personalisation the consumer expects.”
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.