International Online Shopping Boom During Black Friday and Cyber Monday
In the wake of the Covid-19 pandemic, shelter-in-place orders, and local lockdowns, e-commerce saw a significant surge in 2020. This was particularly evident during key shopping events like Black Friday and Cyber Monday, with e-commerce sales in the US rising by 22% and 16% respectively, according to Adobe Analytics. This growth extended to cross-border e-commerce as well, with significant gains worldwide.
However, it's important to note that the specific charges for cross-border transactions can vary significantly. These charges depend on both the consumer's country and their card program. The variation in fees is considerable, with certain transactions incurring charges that exceed 10%.
The margin available for card issuers and merchants through cross-border e-commerce fees can be substantial. Yet, the countries showing the highest card fees for cross-border transactions in 2020 are not explicitly listed in the search results provided. Detailed country-specific card fee data for that year is not available in the given sources.
For those seeking more information, Valentina Vitali's LinkedIn profile can be accessed for more details. Information about how card pricing varies across countries and issuers can also be found. Moreover, a resource is available for optimising cross-border card pricing.
The growth in cross-border e-commerce has created opportunities for card issuers and merchants to capture fees at checkout. However, it's crucial for consumers to be aware of these fees to make informed decisions when shopping online.
For further inquiries, Valentina Vitali can be contacted for more information.
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