While the path of least resistance in eCommerce often involves companies selling goods within their own home regions, opportunities abound for brands to expand their scope and reach new audiences via cross-border sales. If your business is determined to reach untapped new markets, you must take the challenge and responsibility seriously, developing effective new strategies to reach out to these overseas customers.

The most recent edition of yStats’ Global Cross-Border B2C E-Commerce report indicated that cross-border sales will total approximately 20% of overall online buying within five years, which is reason enough to pay attention. Companies that ignore overseas shoppers may end up falling behind more ambitious competitors willing to cross borders.

The yStats report added that online buyers’ readiness for international shopping varies heavily by country of origin. Targeting the right international audiences is critical in ensuring your organization succeeds online. The study also noted that marketplace sites are pivotal in cross-border commerce. The largest global sites have opened their gates to the shoppers of the world, and creating a storefront one of these leading pages could be a savvy first step into new markets.

When pondering where to begin your cross-border revolution, you can narrow down your search by looking for signs of market maturity and populations ready to buy. The following are the top five global markets for eCommerce, according to E-Commerce Nation – regions that are fully prepared to embrace online buying.

1. China

For ambitious companies planning to expand eCommerce offerings in the years ahead, China is the big prize. E-Commerce Nation noted that overall online spending has experienced explosive growth in China in recent years, with 15.9% of all retail activity now carried out digitally. With behemoth sellers such as the Alibaba group pacing the field, Chinese shoppers spent $672 billion online in 2017. Business that find ways into the Chinese market, potentially through storefronts on digital marketplaces, will find a thriving sector waiting for them.

A hand points at a digital globe.Where in the world are buyers most likely to shop online?

2. United Kingdom

The U.K. is another digitally enabled country with a well developed commercial sector. According to E-Commerce Nation, the British are now the third-biggest group of online buyers in the world, which is impressive considering the size disparity between the U.K. and the other largest markets. Consumers buy $99 billion of goods online in the U.K. each year which equals an impressive 14.5% of all sales. As an added bonus for U.S. companies, there’s no need to translate materials for this English-speaking audience.

3. Japan

Becoming a top seller in Japan may be more challenging than reaching one of the other top online markets per yStats’ report, due to the fact that Japanese shoppers like buying from their own well-equipped merchants. With that said, the $79 billion spent online, totaling 5.4% of annual commerce, is a massive target for sellers. E-Commerce Nation added that Japan is the worldwide hub of mobile commerce, with smart devices acting as popular platforms for shopping.

4. Germany

The eCommerce leader of continental Europe, Germany boasts $73 billion in annual online sales, representing 8.4%   of the overall retail expenditure in the country. As E-Commerce Nation reported, Amazon sees the value in the German market: The retail giant opened a country-specific page for German shoppers instead of just translating its mainline offerings. Amazon and other marketplace sites are wildly popular in Germany, helping to buoy that impressive overall sales total. Germany’s neighbor France just missed the list of top eCommerce buyers, coming in at No. 6.

One way to make this connection is to work with a third-party eCommerce platform partner that will help you make the right approach to a new audience, whether that means opening up shop on a marketplace site, creating a localized version of your main page, or both. Reach out to Jagged Peak to learn more about whether this decision is right for your company.

5. Mexico

Mexico may not be the largest market, but it is the fastest-growing market. In 2019, Mexico had 35.0% increase in eCommerce sales. Growth is driven by logistical improvements that have drastically reduced shipping times. The close proximity to the United States makes it an appealing market for U.S. based brands to explore with  lower delivery costs.

One way to make this connection is to work with a third-party eCommerce platform partner that will help you make the right approach to a new audience, whether that means opening up shop on a marketplace site, creating a localized version of your main page, or both. Reach out to Jagged Peak to learn more about whether this decision is right for your company.