Cross-border E-Commerce Transactions Will Grow Fivefold by 2020
Jan 22, 2014 (Wed): The study by London-based management consultancy OC&C and Google estimated the value of cross-border online trade in six of the top e-commerce markets at US$25 billion for 2013 and this value will grow fivefold to US$130 billion by 2020, Reuters reports. The biggest online trade last year was by Britain (US$1 billion) followed by the U.S. (US$180 million) and Germany (US$35 million). The other 3 top e-commerce markets mentioned are the Nordics, the Netherlands and France.
The report also revealed that US online pioneers eBay and Amazon were the top international players in pure e-commerce, German online fashion retailer Zalando and British rival ASOS were next in their ranking.
