International sales from US to grow to USD 50 Billion by 2020

Friday 7 February 2014 10:16 CET | News

International sales from US online retailers are expected to grow from USD 11 billion in 2014 to almost USD 50 billion by 2020, which would make up 16% of the overall US online retail market, according to a recent report.

The report of OC&C Strategy Consultants has estimated the value of the online retail export market by analysing 2011 to 2013 search volumes from across the world for retailers based in six of the biggest e-commerce markets. These markets, including the UK, the US, Germany, the Nordics, the Netherlands and France, make up half of current global e-commerce volumes. The research determined that the retail sector is becoming increasingly global and interconnected as trade between countries grows exponentially.

The latest research also uncovered that international consumers have a growing appetite for foreign goods and consistently use search tools to learn more about international brands. The analysis revealed that international customers are turning to the US for entertainment, electronics, fashion and general merchandise. Brazil has registered the highest growth in international searches for US retailers at 42%, followed by Australia (39%), Mexico (38%) and Italy (37%).

While international sales for US online retailers will only reach 7% of total volumes in 2014, OC&C’s analysis suggests that these numbers could more than double within the decade and could reach 16% by 2020. This presents a tremendous opportunity for retailers of all scopes and sizes, who are looking to drive revenues by broadening their reach and expanding their presence outside of the United States.

Large online retailers, such as eBay and Amazon, have had significant e-commerce market share across the largest international markets over the last several years, and reported that more than 50% of their sales are already coming from overseas.

By the end of the decade, US retailers are expected to see significant volume coming from international sales. In order for US brands to take advantage of the global opportunity they must focus on internationalising their websites with multi-currency shopping, a broader variety of payment options and multilingual support.

Check out our Cross-border Ecommerce Research section here for more info on country-specific ecommerce facts & figures, preferred payment methods, risk and fraud, as well as ecommerce legislation & regulation for mature and emerging markets.

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Keywords: US, e-commerce, 2020, 2014, online retail, international sales
Categories: Payments & Commerce
Countries: World
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