Cross‑border expansion
The New Silk Road
Cross‑border expansion
The New Silk Road
Cross‑border is no longer an afterthought
- Cross-border shopping is very common today and savvy consumers use the internet to buy directly from merchants all over the world.
- The cross-border online shopping global market had 130 million consumers spending $307 billion on overseas websites in 2018 and will be $627 billion by 2022.
- Mobile shopping is also another big component & mobile cross-border purchases globally were $106 billion in 2018.
Don’t lose legitimate orders
- Fraud is a real concern. But the fear of fraud causes retailers to overcorrect and turn away good orders.
- For cross-border purchases, think of how orders coming from unfamiliar customers outside the merchant’s home country carry the fear of the unknown. But as it turns out, the percentage of fraud in domestic and cross-border orders is virtually the same.
- Fear of fraud causes merchants to turn away 6.8 percent of cross-border orders, compared to 2.9 percent of domestic orders.
Ecommerce fraud loss rate
Domestic versus cross-border
Order reject rate
Domestic versus cross-border
*Cybersource 2017 fraud benchmark report
How Signifyd enables you to capture more
The Signifyd Commerce Network includes transactional and behavioral data from thousands of merchants shipping products into 100+ countries, as well as leading data service providers.
97% of transactions identified by one or more of these variables
%
Email coverage
%
IP coverage
%
Phone coverage
%
Address coverage
%
Device ID coverage
Knowing good customers = Fearless cross-border
Cuts takes on the world with Signifyd
For Cuts Clothing, Signifyd was the clear choice as they looked to scale. With Signifyd’s unparalleled merchant network, Cuts had the confidence needed for international expansion. In their first six months alone with Signifyd, Cuts quickly realized their growth potential as their approval rate skyrocketed to 99% and resulted in an ROI of 122%.
Read more about Cross-Border Expansion on the Signifyd blog
Ready to learn more?
Schedule a consultation to learn more about how Signifyd can help your business