Abstract

Cross-border e-commerce (CBEC) is the online sale of goods and services to consumers in other countries through an online platform or store. It's a growing industry, and global sales are expected to reach trillions by 2027. Global e-commerce has been growing by leaps and bounds and this growth is being fueled by the massive expansion of information and communication technologies (ICT) and increasing convenience of online shopping. Today e-commerce forms an essential part of worldwide retail. Just as the case with several other industries, purchase and sale of goods has undergone a sea change with the arrival and subsequent development of the internet, and through the ongoing digitalization of contemporary life, consumers across the globe now can and do profit from the benefits conferred by online transactions. The world being a global village, CBEC has made it possible for online shoppers to purchase goods and services from other countries without having to be physically present at the marketplace. For retailers too, CBEC presents an opportunity to test overseas markets before launching their products and services. Undoubtedly there is mammoth growth potential for CBEC. This article presents an insight into the opportunities existing in the global ecommerce arena for the existing and potential new players along with the possible challenges that they are likely to face.