Turn shifting values into cross-border opportunities - PayPal Borderless Commerce Report 2022
The COVID-19 pandemic has reshaped the perspective, and actions of people around the world including their shopping behaviours. While public health may have since improved, the economic impact is still sticking around. From inflation to supply chain issues, shoppers worldwide are feeling the strain. An outcome of these developments is a shift in shopper values, making people increasingly comfortable shopping beyond borders. This has created opportunities for global merchants to sell in the growing world of cross-border commerce.
As part of its commitment in supporting the business community, PayPal has launched the 2022 Borderless Commerce Report, which provides insights of the latest trends and consumer thoughts and behaviours in 14 markets around the world.
Three key shifts observed in the survey indicate:
- Changes in how consumers live and work influence how they buy
46% of online shoppers surveyed prefer retailers that offer flexibility with the option to spread payments
- Economic uncertainty is playing a leading role in what shoppers spend on
57% of surveyed online shoppers spent more on products they could enjoy with friends and family
- As shoppers started to re-evaluate what was important to them, the brands they chose and why began to change as well
59% of shoppers surveyed are willing to pay more for brands they feel do give back to society
As shoppers look beyond their own borders, retailers have an opportunity to expand their horizons, reach new audiences, boost their business overall, and mitigate risks. The first step is getting to know the audience and understanding their values and local nuances.
Full findings of the PayPal 2022 Borderless Commerce Report can be viewed here:
Read BCR 2022 in English
Read BCR 2022 in Traditional Chinese