PayPal, followed by credit card and direct transfer are the top three cross-border payment methods used by European shoppers, a new e-commerce report has revealed.
The “Europe Cross-Border B2C E-Commerce Market 2023” report found that more than half of online shoppers in Italy leaned towards PayPal for their cross-border purchases as of January 2022, a trend that was similarly replicated in Germany.
“A high share of online shoppers globally preferred cross-border purchases due to better price and availability of products otherwise not available locally as of September 2022,” said the report’s authors, Research and Markets.
It added that clothing, apparel and footwear were found to be the most purchased categories among more than one-third of online shoppers as of October 2022.
In general, digital modes of payment have been gaining momentum with other mobile wallets such as Apple Pay, and Ali Pay also becoming popular among buyers globally. The growing demand for online shopping during and post pandemic also led to the gradual shift towards cross-border B2C E-Commerce.
China was found to be the preferred cross-border purchase destination worldwide, with its share being the highest for shoppers in Greece, Latvia, and Slovenia among other nations.
Despite this, the country’s share in the E-Commerce market declined in 2021, while in terms of the country of most recent cross-border purchase, China was not among the most preferred purchase destination for countries such as Iceland, Finland and Cyprus, the report said.
