Borderfree, which was recently acquired by Pitney Bowes, has expanded its platform to reach more than 220 countries and territories, including high potential emerging luxury ecommerce markets. This expansion of scope includes an additional 120 countries and 15 currencies, maximizing global consumer reach for its clientele of leading retailers.
Borderfree removes the barriers to international cross-border ecommerce with proprietary technology and services that allow retailers to easily market and sell to consumers in every corner of the globe. Focused on increasing international sales for retailers through a variety of channels, Borderfree’s robust capabilities help to close the gap between U.S.- and UK-based merchants and international shoppers, handling everything from global marketing, website localization, compliance, multi-currency pricing, payments, fraud management, global logistics, local market intelligence and more.
“Ecommerce is inherently global, and we are leading the charge to help retailers sell from anywhere to anywhere,” said Lila Snyder, President, Global Ecommerce at Pitney Bowes Inc. “This expansion of our platform illustrates Borderfree’s consistent efforts to grow global awareness and sales for our retail partners, and to position them for success in marketplaces that are on the cusp of significant growth.”
Key emerging luxury markets Borderfree will now sell to include Nigeria – a growing economy that could more than triple in size to $1.6 trillion by 2030, becoming a top 20 economy, according to McKinsey Global Institute – and Kazakhstan, which is forecasted to reach $5 billion in ecommerce activity by the end of 2017, according to the country’s Ministry for Transport and Communications. Both markets offer strong opportunities for ecommerce expansion thanks to increasing smartphone saturation and discretionary spending.
Collectively, emerging markets like Nigeria and Kazakhstan represent a long-tail opportunity that is expected to reach $30 trillion by 2025 in retail market share. Due to limited brand choice and lack of access to luxury products, consumers in these markets tend to be more receptive to shopping from international retailers — converting at a higher rate and spending a higher average order volume than consumers in more mainstream markets – making it an important time for international retailers to establish their presence.
“The long-tail market opportunity we’ve added to the Borderfree platform presents a compelling growth opportunity retailers wouldn’t be able to tap into on their own,” added Snyder. “We are excited to provide our merchants with a turnkey way to reach a new frontier of international customers that promises to continue to grow for the foreseeable future.”