Cross-border trade seen growing 19% in Hungary this year
With the constant growth of the e-commerce industry, cross-border trade in Hungary is expected to grow by 19% this year compared to the previous year, according to the third annual report released by PayPal and Ipsos, a press statement sent to the Budapest Business Journal shows.
According to the findings of the survey, Hungarian cross-border e-consumers are still looking for a good deal.
When it comes to factors that would make Hungarian online shoppers more likely to buy from a website in another country, customer support in their own language (selected by 36% of Hungarian online shoppers) and opportunities to locate items that are hard to find locally (selected by 33%) are the top factors that could drive cross-border shopping, according to the survey.
As cross-border shopping in Hungary gains popularity, Hungarians are more likely to trust websites from abroad and focus less on the country of origin, the report says. Some 48% of Hungarian online shoppers agreed it is not important whether or not an online retailer is based abroad, while 46% said they trust online stores in other countries as much as stores in their own country.
Still, some worries remain. Some 35% of online shoppers said concern about not receiving the item as described stops them from shopping online in their own country more often, while 29% of cross-border shoppers listed the same concern as something that prevents them from making purchases from websites in other countries more often. Additionally, 36% of online shoppers said that high return shipping costs prevent them from shopping online in their own country, compared to 29% of cross-border shoppers who said this is a reason for not shopping cross-border more often.
“It all comes down to seller transparency and trust: factors like product description or shipping costs should be easy to find on an affordable merchant’s site,” commented Matt Komorowski, managing director of PayPal Central Eastern Europe. “Cross-border trade can be a vital source of incremental revenue for merchants. At PayPal we want to help our customers access new international sales opportunities and this is why we actively provide our Hungarian merchants with tools such as PayPal PassPort and PayPal Refunded Returns, to help them attract more business overseas.”
The global insights research, which investigated the online domestic and cross-border shopping habits of more than 28,000 consumers in 32 countries, reveals new habits of cross-border shoppers in Hungary and highlights the most important trends in terms of global e-commerce.
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