CPTPP – Free trade pact | Trending products for 2021 | Promising prospects in Latin America

Posted on 4/02/2021 by DHL Express

UK to apply to join free trade pact – CPTPP

The UK will apply to join a free trade area with 11 Asia and Pacific nations. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership – also known as CPTPP – covers a market of around 500 million people.

In 2019, CPTPP nations accounted for a total of 8.4% of UK exports, approximately the same proportion as Germany alone. Current members of the pact include Australia, Canada, Japan and New Zealand; the UK is the first non-founding country to apply to join the CPTPP and, if successful, would be the second biggest economy after Japan.

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Trending product categories for 2021

It’s the big question for e-commerce businesses: what’s going to be top of customers’ wish lists this year? Research shows that the pandemic pushed people to try new products and services for the first time as shopping online allowed them to explore and compare new brands easily.

As the pandemic reaches its one-year anniversary, we have seen some e-commerce trends come and go. So, take a look at the product categories we predict will be hot property this year, and position your business to meet demand.

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Latin America promises to be a key new growth market for e‑commerce

With a large urban population and widespread use of smartphones, Latin America is seeing a surge in e-commerce as the pandemic pushes demand from both consumers and merchants.

According to Americas Market Intelligence, online retail sales are on track to increase at a 22% compound annual growth rate from $100 billion in 2018 through to 2021.

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