Pitney Bowes Inc. has released new findings from its latest BOXpoll survey highlighting the opportunity for British retailers with young US online shoppers. The survey of 1,254 US cross-border online shoppers finds one in four (25 per cent) Generation Z consumers and more than one in five (22 per cent) millennials buy from UK online retailers once a month or more.
The findings are announced as Pitney Bowes expands its portfolio of leading cross-border services, launching new UK-origin cross-border logistics services purpose-built to help UK retailers grow sales and reach consumers throughout Europe, in the US, and around the world.
“Younger US consumers and their love of British brands present a fantastic opportunity for UK-based retailers, but these buyers are cost-conscious and experienced, with high service expectations,” said Georges Berzgal, SVP International – Pitney Bowes global eCommerce. “To win their business, sellers must replicate a best-in-class domestic eCommerce experience across borders, including fully-landed costs, reliable delivery time estimates, and accurate tracking. New Designed Cross-Border™ services from Pitney Bowes will make eCommerce logistics easier for UK retailers, helping them reduce complexity and risk while delivering an outstanding customer experience.”
The BOXpoll survey reveals insights into the barriers US shoppers face at checkout when buying from UK brands. Buyers show higher expectations and lower tolerance around the cost of shipping and returns, compared with last summer’s poll:
- 59 per cent abandon their shopping cart because they do not want to pay the costs associated with returning items, up from 50 per cent in 2021
- 74 per cent of buyers are held back by high shipping costs – up from 69 per cent last year
- Almost one in every two (47 per cent) abandons their cart if duties are either not calculated or seem inaccurate, up from 44 per cent in 2021
The results highlight the delivery times that US cross-border consumers find acceptable when buying a product online from a UK eCommerce site. The majority find seven days acceptable, with 44 per cent saying they would still be happy with ten-day delivery. They are less tolerant after the ten-day mark, with 63 per cent classifying 11-14 days as slow. The key is to set expectations on delivery times upfront at the checkout and then to meet those expectations.
Pitney Bowes forecasts reveal one in every five eCommerce transactions around the world is likely to be cross-border in the next four years, with global cross-border sales expected to reach US$1.6 trillion by 2025.