The company reports a 25% leap over the previous quarter and the corresponding quarter last year previous quarter,
as well as a 200% increase in orders from China.
Irit Krief, the Chairwoman and CEO of GCX : “Israeli consumers are recommended to purchase goods via transactions with pre-paid tax."
The Israeli courier company GCX has published its online trade data for the third quarter of 2018,
which refers to purchases made by Israeli consumers on international websites.
The data specifies the volume of purchases carried out by private customers and distributed in Israel by GCX Ltd.
As reported by the company, the most prominent figure of the last quarter is a 25% increase in the volume of purchases compared to the corresponding quarter last year and the previous quarter, amounting to $8.65 million.
In addition, the presented data indicates an increase of over 200% in volume of orders from China.
As reported by GCX, the average transaction in the third quarter amounted to $54.84 – a 38% decrease compared to the corresponding quarter last year, which averaged $86, and a 31% decrease compared to the previous quarter, in which transactions averaged $79.19. The data indicates that 21.75% of the transactions exceeded $75, which is the tax threshold for individually imported products, as prescribed by law.
In accordance with the Tax Authority Regulations, purchases abroad exceeding $75 are subject to customs and VAT, as well as processing fees according to the rates published by the shipping companies.
The data collected by the GCX Research Department indicates a leap of over 200% in the volume of orders from China, which surpassed the United States in this quarter as a major import destination, amounting to 37% of imported goods compared to 15% in the previous quarter.
The data also indicates that 35% of the purchases were carried out via US-based trading sites, including eBay, Amazon and others. 19% of the orders were made on British websites, including the ASOS fashion brand popular with Israelis.
This indicates a decrease of approximately 57% compared to the corresponding quarter last year. Other orders are from Eastern destinations, such as Hong Kong, Turkey and Amsterdam.
Chairwoman and CEO of GCX, Irit Krief, noted that “The last quarter was characterized by Amazon’s vibrant activity – the online retail giant embarked on campaigns that propelled purchases from abroad, while creating a challenge for Israeli regulation.” According to Krief, “It is perfectly clear that 2018 is expected to be the third consecutive record year in terms of volume of online purchases made by Israelis on international sites, and we estimate that the annual growth is expected to reach 30%.”