Indian sellers see the biggest sales spike on the international marketplace, compared to any other country in the world, says new report The Global Seller Index – Q1 2019 by Payoneer.
The Global Seller Index polled 100,000 merchants actively selling on international marketplaces. It highlights the different trends and shifts in terms of seller location, age and sales.
According to the research, Indian sellers’ marketplace sales were up by 121% in the first quarter of 2019 on the year-on-year (YoY) basis. However, that’s 4% down from the last quarter of 2018. The research puts down the spike of growth in the market to the holiday peak season, followed by a lull during the first few months of the year. It also reflects the overall trend on the top-10 country list, where decreases in sales were widely seen.
The top-10 countries, in terms of sales on international marketplaces, have stayed the same since last quarter. However, both India and Japan moved up one spot, reaching number six and eight slots, respectively.
The growth in Indian ecommerce has coincided with the rapid economic expansion seen throughout the country. The findings of Q1 2019 data indicate that this trend is increasing.
The growth of the UK sellers
The research also points to the sales growth of the UK marketplace merchants. In the quarter one of 2019, UK sellers sales spiked up by 148% on international marketplaces.
The UK has a robust domestic market, which has had a relatively small cross-border seller community. However, the report says that this is beginning to change. Sellers in the UK are seeing the benefits of expanding their businesses into global markets by selling on marketplaces in Europe, North America and beyond. The analysis says this trend has been further fueled by concerns surrounding the UK’s economy post-Brexit.
International sellers continue to expand into new marketplaces
The number of multi-channel international cross-border sellers is on the rise. While Amazon remains the most popular marketplace for new merchants, the report saw a remarkable 38% year over year increase in sellers selling on more than one international marketplace.
The news highlights the phenomenon of sellers increasingly expanding globally. The industry is now seeing merchants not putting all of their eggs in one basket as they expand into more domestic but also international marketplaces. This way sellers develop customer familiarity with a brand by increasing their presence on multiple marketplaces which attract a diverse set of audiences.