Retailers outside of the European Union generate 80% of their cross-border sales on marketplaces, with Amazon leading with £27bn in revenue in 2018, says Top 500 cross-border retail Europe report by cbcommerce.
According to the research countries such as Western Europe and Scandinavia, £30bn were generated by the 500 biggest cross-border retailers that are located in Europe. A quarter of this money comes from online marketplaces, while 40% is generated by pure players.
The report also says that cross-border ecommerce revenue was worth £117bn in 2018. That’s up by 13.2% compared to last year’s growth. This corresponds to a cross-border share of total online sales in Europe of 22.8% in 2018. The study predicts that international online revenue will soar up by 19% to reach £139bn in 2020. In 2022, the research forecasts the cross-border ecommerce to increase 50% to make up £209bn in sales. This report says that the European cross-border ecommerce trade will nearly double over the next three years.
The study concludes that some 23.6% of European consumers appreciate the convenience of cross-border ecommerce and ask the decision-makers in the Commission and the European Parliament to further simplify tax and cross-border rules. Despite Brexit, they strongly believe in a promising future for cross-border ecommerce in Europe.
