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Rising prices are driving customers to look for deals, not just in their own countries, but pretty much anywhere in the world.
A recent study by commerce experience platform Nosto, which surveyed 2,000 consumers across the UK and US, found that 52% of shoppers had purchased at least one item online from a store based in a different country over the past 12 months.
- Similarly, 70% of online shoppers were likely to buy fashion products from international brands, followed by sporting goods and hobbies (57%), and health and beauty (55%).
- For 41% of respondents, lower prices were the top reason for choosing to venture beyond borders.
- Meanwhile, 33% said a desire for unique or unusual items topped their list.
Overall, about 53% of respondents admitted rising prices at home spurred them to seek affordable items elsewhere.
For some, lower prices meant they’d venture beyond shopping at their favorite brands.
- In fact, 29% of shoppers said they’d even purchase fake brand items abroad if they were cheaper.
Still, not everyone shopping overseas was necessarily just looking for a good deal.
- About 23% of those surveyed said that their international purchases were influenced by social media, with 33% of Gen Z consumers citing social media as the main reason for shopping abroad.