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GLOBAL E-COMMERCE SHOPPING CART ABANDONMENT PREPARING YOUR E-STORE FOR GLOBAL CUSTOMERS STATISTICS ON GLOBAL E- COMMERCE
> GLOBAL E-COMMERCE GROWTH
2010 Global E-Commerce Sales $572.5 billion.
27.2% ASIA I PACIFIC
29% UNITED STATES
OVER 50% OF E-COMMERCE MERCHANTS
polled report that a significant percentage of their web traffic comes from International customers without catering their site to the international marketplace
Estimated E-COMMERCE REACH BY 2015
1. US e-commerce expected to reach 9278.9 billion..
2. Latin American B-commerce growth hit 24% in 2010 and is forecasted to achieve a CAGR of 17%.
3. Western Europe e-commerce will reach about $186.2 billion.
4. European online buyers will grow from 157 million to 205 million.
5 Africa & the Middle East will have the largest growth in Internet users from 150 million in 2009 to an estimated 297 million.
6. Asia-Pacific online retail markets are growing faster than North America or Europe.
7. India e-commerce is expected to hit $40 billion.
8. Australian e-commerce will almost double from 816.9 billion in 2009 to 833.3 billion.
SHOPPING CART ABANDONMENT
> LOSING OUT ON REVENUE:
THE SHOPPING CART ABANDONMENT DILEMMA
Reasons For Shopping Cart Abandonment
44% - HIGH SHIPPING & HANDLING COST
41% - NOT READY TO PURCHASE THE PRODUCT
27% - WANTED TO COMPARISON SHOP
24% - PREFERRED PAYMENT METHOD NOT AVAILABLE
24% - JUST WANTED TO SAVE PRODUCTS FOR LATER CONSIDERATION
21% - CONCERNED ABOUT SECURITY
1st ½ of 2011
SHOPPING CART ABANDONMENT
ESTIMATES HIT 75%
18 BILLIONS - An estimated $18 billion in revenue per year is lost due to shopping cart abandonment in the US alone.
19 PERCENT - Lose than 19% offer a currency converter.
16 PERCENT - Less than 16% offer either content, customer service or telephone support in a local language.
18 PERCENT - Less than 10% of merchants selling internationally operate e-commerce sites designed to target specific countries.
16 PERCENT - Less than 16% show the fully landed cost of delivering an item to the consumer’s door.
SHOPPING CART ABANDONMENT I CONTINUED
> PREPARING FOR INTERNATIONAL CUSTOMERS
& DECREASING SHOPPING CART ABANDONMENT
PROVIDE COMPARISON SHOPPING SNAPSHOTS.
-Offer affordable international shipping options by finding the right International mailing and parcel service.
-Offer a local return address. The order can be returned to an address in country where It can be processed, consolidated end returned to the original shipper at a reduced rate.
Incorporate a currency converter into your shopping cart
Offer product content and customer service in local languages.
OFFER “FULLY LANDED COST” SHIPPING OPTIONS.
Provide free shipping or tax refund internationally rather than “Percent-Off Sales”.
Allow a variety of payment options
International Postal Services
Going Global with International E-Commerce
Recoup lost shoppers by implementing a cart abandonment follow up plan using
. Direct mailing
. Email campaign.
. Discount offers
. Free Shipping offers
Conduct local market research to determine which region to expand to. Take into account:
-Amount of revenue already coming from that market.
-Sophistication of that regions e-commerce infrastructure.
-Shopping habits of the population