The scale of cross-border buyers in the United States continues to expand, and is expected to grow to 698 million by 2023!

Cross-border buyers in the United States are expected to reach 698 million by 2023

According to Inside intelligence’s latest forecast, BusinessDialogue has learned that in 2023, the number of cross-border online shoppers in the United States will reach 69.8 million, ranking second in the world. China, with its large population, will be ranked first, with a staggering 280 million.

The United States will add 2.3 million cross-border buyers in 2023

Inside intelligence predicts that the number of cross-border online shoppers in the United States will increase by 3.4% compared to the previous year in 2023. This growth rate is only half of the 7.0% in 2020 and one-third of the 10.2% in 2016. Although the growth in the number of cross-border buyers will slow down compared to the previous few years, the popularity of cross-border online shopping continues to increase.

Before the outbreak of the pandemic, the cross-border e-commerce market in the United States took off rapidly due to factors such as language support, convenient payment, free or low-cost shipping and returns.

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By 2024, nearly one-third of U.S. online buyers will shop cross-border

Since 2019, the number of cross-border online shoppers in the United States has increased by nearly 25%. Inside intelligence predicts that there will be 71.8 million U.S. consumers aged 14 and above who will become cross-border buyers next year.

The shortage of products and supply chain challenges caused by the pandemic have led more American consumers to purchase products from overseas sellers. In terms of cross-border buyer penetration rate, the United States ranks in the middle of the 21 countries tracked by Inside intelligence.

Inflation will provide new impetus for cross-border online shopping

Price increases have weakened consumer loyalty to brands. According to a January 2023 survey by Mirakl, only 22% of American consumers said they would insist on buying trustworthy brands regardless of price, while 86% of consumers said inflation forces them to look for lower-priced products when shopping.

The author is Nicole/AMZ123✎

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