SUMMARY
Indian merchants sold products to an average of 10 international markets on Shopify
The US, the UK and Australia emerged as the favourite destinations for Indian merchants selling abroad
The boom of online shopping during the pandemic has meant more Indian merchants are now selling to more countries and international consumers than ever before: Shopify India head
Indian suppliers sold products to more than 70 Mn international buyers in 2021, according to merchant data released by ecommerce enabler Shopify.
The data further revealed that Indian merchants sold products to an average of 10 international markets on Shopify. The US, the UK and Australia emerged as the favourite destinations for Indian merchants selling abroad.
“The boom of online shopping during the pandemic has meant more Indian merchants are now selling to more countries and international consumers than ever before,” Shopify India director and country head Bharati Balakrishnan said.
“However, with competition on the rise, expanding to new markets without a localised consumer experience means merchants leave untapped potential on the table,” she added.
The ecommerce enabler also noted that Indian merchants are “accelerating growth by tapping into new international markets to offset challenging macroeconomic pressures”.
Citing a study conducted by the ecommerce enabler in April 2021, Shopify said that international spending on its platform directed at merchants in the Asia-Pacific region grew 67.9% last year.
The Canada-based company provides tools and necessary digital infrastructure for ecommerce companies and retail users to go online. It has a presence in more than 175 countries and is used by brands such as Allbirds, Gymshark, Heinz, among others.
Shopify has been ramping up its presence in India by forging partnerships and introducing a slew of India-specific features for its clients. Earlier this month, Shopify partnered with Paytm to deploy its payments gateway at Shopify storefronts to collect payments. It also joined hands with Interakt to deploy its WhatsApp-Shopify platform for its clients.
Recently, Shopify also announced plans to cull 10% of its global workforce, around 1,000 employees, across multiple verticals.
According to Research Ocean, the global cross border sales stood at around $765 Bn in 2021. This number is expected to surge to $6.2 Tn by 2030.
