A UPS report suggests that trade policies and attitudes in the United States are costing domestic businesses billions of dollars in lost revenues from cross-border e-commerce and trade. UPS found that, despite the immense potential of cross-border e-commerce (1.6 billion digital buyers worldwide), less than 1 percent of America’s 30 million companies export. UPS found that 43 percent of global consumers were willing to shop internationally for unique non-local products. With 80 percent of global purchasing power beyond U.S. borders, it makes sense to think globally.[China] China accounts for 40 percent of global ecommerce transactions
The value of China’s ecommerce market accounted for 39.2 percent of the global market as of the end of 2016. Last year, online shoppers reached 467 million, or 63.8 percent of internet users. The most traded goods among Chinese e-platforms are clothing, home furnishings, electronic appliances, mobile phones, digital goods, food and drink, and baby products.
[China] Walmart China launches online flagship
Walmart launches its official Chinese flagship store today (5/25) on online retail platform JD.com. The company selected more than 1,700 of its most popular items in China from food, consumables, general merchandise, toys and apparel categories for its flagship store.
[U.S.] Amazon Shares Hit $1,000, Showing E-Commerce, Cloud Prowess
The stock is up almost 40 percent from a year ago. The shares will likely push even higher since Amazon is growing so quickly in massive global industries that show no signs of slowing, as shopping habits change and businesses rethink how they deploy technology, said John Blackledge, analyst at Cowen and Company LLC, who recently upped his Amazon price target to $1,125 a share. Seattle-based Amazon had 80 million Prime subscribers in the U.S. as of March 31, an increase of 38 percent from a year earlier, according to Consumer Intelligence Research Partners.
[Middle East] Nasper’s Turkish e-commerce firm Markafoni to shut down
Turkish e-commerce and fashion company Markafoni, owned by South African media and internet giant Naspers, will shut down at the end of June. Turkey’s growing e-commerce market stood at $6.99 billion in 2015, accounting for 2 percent of total retail revenue according to the Turkish Informatics Industry Association.