E-commerce presents enormous opportunity for businesses who want to expand into new markets. In a recent webinar, CHAMP addressed how businesses can navigate the regulatory and compliance landscape.
E-commerce is one of the fastest growing industries worldwide, backed up by some seriously impressive numbers.
Forbes reported that global e-commerce was worth 6.3 trillion dollars in 2023, which has grown to 6.9 trillion dollars in 2024. That 0.3 increase represents 300, 000, 000, 000 dollars – a figure that will continue to grow in the years to come.
China alone moved 120 billion parcels in 2023 which equates to 10 billion per month, accounting for 63% of global express products around the world. To put this to scale, this is more parcels moved per month than in the entirety of 2014.
Needless to say, this presents enormous opportunity for air cargo businesses.
E-commerce has been a game-changer for the logistics industry, accelerated by the dramatic shift in buying behavior brought on by the pandemic. Businesses no longer need to invest in a physical setup to engage with customers – they can create attractive listings online and attract customers with ease.
Online shopping allows sellers to transcend global boundaries and expand abroad, engaging with customers in a global marketplace with relatively lean investment.
This makes e-commerce a highly profitable model for global expansion, not only for sellers but for air cargo businesses looking to capitalize on a new revenue opportunity.
The surge in online shopping has led to a dramatic increase in volumes and shipments, which puts pressure on the logistics industry to work faster and more efficiently.
Air cargo businesses who want a piece of the pie will need to take control of their filing and acceptance processes to gain approval and avoid negative consequences.
Looming is the deadline for ICS2 compliance, a European advance filing initiative that requires all goods to be reported at a parcel level to be accepted into the EU territories.
This has proven challenging where businesses now need to complete extra paperwork, send large volumes of information, and provide granular detail. If rejected under the ICS2 regulations, this can lead to costly delays and potential impoundments – a consequence many are understandably eager to avoid.
Businesses who currently leverage ecommerce as a revenue stream have been eager to streamline their compliance, which has lead to widespread demand for easy software solutions.
To address this demand and support our customers e-commerce streams, CHAMP developed Traxon Global eCommerce (TGE); a purpose-built solution to help navigate the complexities of e-commerce filing and compliance.
Powered by our open and interconnected Neo platform, TGE facilitates easy ecommerce approvals and opens up the possibility of new global markets and revenue streams. By increasing visibility, ensuring items are properly declared, and getting approval for loading as required by ICS2, you’ll enjoy complete control and compliance.
You can find out more about Traxon Global eCommerce here and prepare your business to capitalize on a 6.9 trillion dollar opportunity.
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