Cross-border shopping is on the rise as per the Worldline’s research report conducted by Worldline in six European countries. But why there’s a sudden rise in cross-border shopping? The reason could be the declining world economy and inflation which leads to a remarkable rise in the cost of living of the consumer.
At the same time, our consumers are very much aware of the current scenario and are cutting on online shopping expenditure and adopting maximum saving measures like looking out for coupons, sales, offers, or cross-border shopping. On one side the consumer is working on their expenses but on the other hand, still doing online shopping and this is a piece of good news for Shopify retailers.
In this blog, we will focus on how we can utilize the trend of cross-border shopping and optimize this opportunity in our business growth by upgrading our technology which fit-in with the latest trends.
Unstable Economy
The unstable economy is creating pressure on the consumer’s monthly expenditures, so consumers are adjusting their shopping habits by focusing on cost-saving measures. According to Björn Hoffmeyer, Head of Regional Businesses at Worldline Consumers are becoming more price sensitive than ever.
This price sensitivity is impacting online shopping patterns immensely. Consumers are looking for cheaper products with quality across the border, and online shopping has made this feasible. Younger consumers, especially millennials and GenZ shoppers are leading this trend.
So, Shopify retailers should focus on the current customers and offer personalized campaigns to delight our customers. You can also check out our blog on Holiday Shopping Prediction for Shopify Retailers and prepare your strategy accordingly.
Payment Methods
With the rise in cross-border shopping, customers are seeking international and flexible payment methods. Multi-currency in e-commerce business is expanding the horizon of cross-border shopping and making your customers more comfortable.
The changing habit of shopping has also revolutionized the method of payment. Although bank card payment is still the favourite mode of transaction, digital wallets are challenging card payment options. Also, the pay later and other alternative modes of the transaction is picking pace.
Evolving Technology
The emerging technology will shape the future of the e-commerce industry. Most of the latest technology is customer-centric and focuses on the personalized experience of customers. The customized experience will build the trust of consumers and are responsible for generating more revenue.
The Salesforce CRM platform with the power of AI, will fully provide a personalized experience to your Shopify customers and enhance your customer engagement and the customer database. To connect your Shopify store to Salesforce you can opt for our free Shopify Salesforce connector Sync Made Easy and experience the miracle in your business.
Wrap-UP
Stay tuned to know about the new trends in the e-commerce industry and remember to install the Sync Made Easy app from Salesforce AppExchange to enhance your experience. Install it Now and witness the magic!
