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Our 2022 PayPal Borderless Commerce Report provides a deep dive into 14 different markets, explores how shopper values and behaviors have changed — and how they could spell opportunity for your business.
Online retail sales around the world are expected to grow by 50% by 20251.
The future of cross-border commerce is still looking strong. With people becoming increasingly comfortable shopping beyond their borders, the time to sell internationally is now2.
Our 2022 PayPal Borderless Commerce Report provides a deep dive into 14 different markets, explores how shopper values and behaviors have changed — and how they could spell opportunity for your business.
The price of potatoes in Germany rose by 43%3. And that’s just the start of it. The culprit? A sharp and sudden wave of inflation reaching highs we haven’t seen in over 20 years. As you can probably guess, this isn’t a problem unique to Germany. Shoppers around the world are feeling the effect of inflation on their wallets, from the grocery store to the gas pump and beyond.
Beyond inflation, we are seeing supply chain issues arise as well. Shoppers can no longer count on fast and reliable shipping, and not much else takes a toll on consumer confidence like delays4. It dipped so low in March 2022 that it challenged the 97.56 mark set in May 2020, the lowest point during the COVID-19 pandemic5.
But this hasn’t put a halt to cross-border shopping. It’s the lifeline many businesses need right now, and an opportunity to minimize their risk in a volatile market. With the rise of remote working, it’s no surprise that online sales skyrocketed by US$700B between 2020 and 2021 alone6. And despite some of the global economic challenges we’re facing today, the future of eCommerce remains bright, with sales expected to grow by 50% to reach a staggering US$7.4T by 20251. That’s more than the GDP of the UK, Germany, and Hong Kong SAR, China combined.
So, what does this have to do with the price of potatoes in Germany? Everything.
Download the full report to better understand how Cross Border Commerce may be an untapped growth opportunity for your business.
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