Israel among fastest-growing online export markets

PayPal study shows Israel alongside Argentina and Russia in the top-growing online export markets.

July 24, 2013 20:54
1 minute read.

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Israel is among the five fasting-growing export markets for PayPal merchants, a study by the online payment company revealed Tuesday.

The study, which examined online-purchase trends in the US, UK, Germany, Australia, China and Brazil in 2012, put Israel alongside Argentina and Russia in the top-growing online export markets.

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The report showed that far from being contained within domestic borders, international online purchases were set to increase over the next five years. While today some 16 percent of online purchases cross borders, representing $105 billion of trade, “among the six surveyed markets, crossborder shopping will grow to $307 b. and 130 million consumers by 2018,” the report said.

The markets where the highest growth rates for online Israeli exports were Brazil, which increased 77%, China (73%), Australia (55%), UK (51%) and the US (34%), according to Efi Dahan, PayPal’s regional director for Israel and Africa.

Most people purchasing online products from abroad (80%) did so for one simple reason: it was cheaper, though a close second was the added variety of products.

Clothing, shoes and accessories were by far the most-purchased category in the study, accounting for $12.5b. of trade. Computer hardware and personal electronics each accounted for less than half that total.

Before consumers were willing to shell out their cash online, however, they first needed to feel that their online purchases were safe.

“The survey shows that nine of 10 respondents said security, trust and user protection for Internet shopping are critical to online purchases,” Dahan said.

The survey confirmed another trend in online trade: the future is mobile.

“In the fast-moving world of cross-border shopping, mobile transactions via smartphones and tablet devices are rapidly gaining ground,” the report said.

Over three-quarters of cross-border shoppers in the surveyed markets said “they wanted to make more mobile purchases, transactions and payments in the future.”

The trend was greatest in China, where there are currently 14 million mobile cross-border shoppers.

“By 2018 there will be almost twice as many mobile cross-border shoppers in China, spending $55.2b. on overseas websites via their mobile devices,” the report said.

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