US international ecommerce market to reach USD 50 billion by 2020

Wednesday 12 March 2014 10:48 CET | News

International sales from US online retailers are expected to hit USD 50 billion by 2020, up from USD 11 billion (7%) in 2014, according to a report released by a global consulting company OC&C Strategy Consultants.

The same source unveils that it will account for 16% of the overall US online retail market.

Research has shown that the retail sector is getting global and interconnected as cross-border trade grows exponentially. The report has also shown that international consumers are fond of foreign goods and consistently use search tools to learn more about international brands.

More specifically, OC&C’s analysis has found that international customers are turning to the US for entertainment, electronics, fashion and general merchandise. Brazilian consumers are more and more interested in international searches for US retailers with figures pointing at 42%, followed by Australia with 39%, Mexico with 38% and Italy with 37%.

International online retailers like eBay and Amazon had significant ecommerce market share across the largest international markets over the last several years, and have reported that more than 50% of their sales are already coming from overseas.

OC&C’s research reveals that 40% of US ecommerce brands have reached to more than 50 countries, along with their goods and services while another 40% have designed their websites to specifically target Spanish-speaking and other local language customers.

The OC&C study results are based on analyzing 2011 through 2013 search volumes from across the world for retailers based in six ecommerce markets such as the UK, the US, Germany, the Nordics, the Netherlands and France which comprise half of the current global ecommerce volumes.

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Keywords: OC&C Consultants, US, cross-border ecommerce, online retailers, online sales
Categories: Payments & Commerce
Countries: World
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