According to the recent survey conducted by Global-e, UK retailers may not have a profitable Black Friday this year. The survey, which included 9,000 participants from various countries, revealed that 48% of Britons are turning to international retailers for better deals during the event. China and the US were the top countries, with 57% and 47% of UK shoppers, respectively, purchasing from them. Additionally, Germany (11%), Spain (10%), and France (9%) were also popular markets for cross-border shopping among Britons.
The survey also delved into the specific categories that UK shoppers prefer to purchase from overseas. Clothes, Shoes & Accessories took the top spot with 74% of respondents choosing this category. Health & Beauty came in second with 29% and Jewellery & Watches followed closely with 23%.
Interestingly, the survey found that 62% of Britons prefer to buy directly from the brand when shopping online, rather than through a marketplace (33%) or local reseller (26%). This percentage is higher than the global average of 58%. The age group most inclined to purchase directly from brands was 25-34, with 71% choosing this option, closely followed by the 16-24 age group at 66%.
Social media platforms also played a significant role in influencing cross-border purchases among UK consumers. Around 46% of respondents stated that they purchased internationally after hearing about it on platforms like Instagram (58%), Facebook/Meta (42%), and TikTok (32%). Affordability was the top reason for Britons to shop online internationally, slightly exceeding the global average. The brand’s wide variety of products (33%) and low shipping costs (28%) were also influential factors. On the other hand, expensive shipping (59%) and long or expensive delivery times (43%) were the main reasons for UK shoppers to abandon their carts when shopping internationally.
Taking a global perspective, the survey revealed that the US (46%) and China (42%) were the most popular cross-border shopping destinations. The UK ranked third at 25%. In terms of categories, Clothes, Shoes & Accessories dominated global cross-border e-commerce at 61%, followed by Health & Beauty at 30%.
These findings indicate that UK retailers may face challenges during Black Friday as a significant number of Britons are opting to shop online from international retailers for better deals. To attract and retain local shoppers, retailers should consider implementing strategies such as offering competitive pricing, a wide range of products, and fast and affordable shipping options.
Useful links:
– Cross-border E-commerce: What You Need to Know
– A Guide to Cross-Border E-commerce
