Meet today's shoppers where they are: everywhere
Although it’s been an uneven global recovery, consumer confidence is gaining. The flock to online shopping isn’t localised, it’s happening at a global scale. This presents online sellers with a massive opportunity.
From pause to pivot: 4 global eCommerce trends to watch
1. Growth across markets
Online retail sales spiked 28% in 20201, compressing years of forecast growth into just weeks. In that short time, online shopping behaviors quickly became habits. Worldwide eCommerce will continue growing another 14.3% this year to an estimated $4.89T USD in total retail sales2.
Consumer confidence is gaining across all surveyed markets, and most global business cycle indicators are on the uptick.3 The U.S. Consumer Confidence Index, a leading economic indicator, continued a rise that started in May 20204.
2. Growth across verticals
Consumers turned to online channels for more of their everyday needs during lockdown. As shoppers became more comfortable online, they became more comfortable shopping globally. Across our surveyed markets, 22% of online shoppers said they became more comfortable cross-border shopping since the pandemic5.
3. Growth across demographics
When faced with product shortages, budget constraints, and concerns about in-person shopping, buyers across all markets showed a far greater willingness to try new brands. They also showed openness to new ways of shopping, heading to digital and omnichannel options6.
Digital wallets were used more broadly for cross-border purchases5, especially in markets that have long preferred other options.
4. Growth across platforms
After years of increasing adoption, smartphones have reached a tipping point for the preferred device across all markets for online shopping5. Chinese online shoppers showed the highest preference at 86%, while large, developing markets like India, Mexico and Brazil showed the fastest smartphone growth rates5.
Globally, mobile devices are forecast to be used for 67% of all online purchases in 20217, with a proliferation of options including apps and popular social shopping platforms. But all eCommerce shopping, including on traditional PCs, is forecast to continue growing.
Global eCommerce: your new playing field
Across all 13 markets surveyed, the trend was unmistakable: online shoppers are spending more online and exploring new options, whether that means buying from a merchant across the street or across the sea5. Whether you’re a startup or an established company, opportunity awaits those ready to join the great pivot now happening across the world’s biggest markets, economies and institutions.
Download our 2021 Borderless Commerce report
The 2021 Borderless Commerce report captures the global shifts that are shaping the future of cross-border commerce. Identify potential areas of growth for your business, while exploring 13 key markets in depth.Download the report
2. Insider Intelligence/eMarketer, Retail Ecommerce Sales Worldwide, 2019-2024, Dec 2020
3. OECD, Consumer Confidence Index
4. The Conference Board, Consumer Measures, 2021
5. PayPal commissioned Ipsos MORI PayPal Cross-border Insights 2021. n=13,000, 13 markets. Online survey of adults (aged 18+ who have purchased online in the past 3 months) between December 2020 — February 2021.
6. Ipsos, PayPal Borderless Commerce Dimensionalisers deck, Dec 20
7. Cap Gemini, World Payments Report, n=8600 customers, 21 countries, 243 expert interviews, August 2020
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