Melbourne-based global financial platform, Airwallex, has released a report unpacking the challenges and trends in cross-border e-commerce transactions, with insights into consumer behaviour and expectations.

Titled 'The state of cross-border e-commerce', the report outlines that 61% of global consumers perceive international merchants as trustworthy, with key considerations for consumers include flexibility and transparency in payments and shipping.

In Australia, the research found that 20% of consumers are looking to decrease their international online shopping, while 39% expect to increase their international shopping in the next 6-12 months.

The primary driver for international shopping among Australian consumers was greater product options (32%) and lower prices or better deals (32%). Though, 68% of Australian consumers were unlikely to return to online stores that do not transparently disclose additional fees like currency conversion and international transaction fees.

In terms of payment, Australian consumers are most likely to use digital wallets. If their preferred payment method is not available, 78% of Australian consumers would likely abandon their cart.

Globally, 54% of consumers expect to increase their cross-border purchasing over the next six to twelve months. 59% of global consumers will likely make online purchases from international merchants through social media platforms.

Airwallex Chief Revenue Officer, Kai Wu, said: "E-commerce is more global than ever. Despite ongoing economic uncertainty and slowing global growth, it is clear that consumer spending will continue to grow. With the global cross-border e-commerce market set to reach USD 7.9 trillion by 2030, it is critical for international merchants to solve consumer pain points and deliver the best possible customer experience in order to thrive in this competitive market."