Global ecommerce market continues to flourish - report

Friday 6 October 2017 00:54 CET | News

Global online retail has registered a growth rate of 17% in 2017, according to the latest report released by Ecommerce Europe.

The Global Ecommerce Report 2017, describes the commercial opportunities and challenges the main global ecommerce markets encounter. While Asia (20%+) is booming, North America (9%+) is slowing down. South America (16.5%+), the Middle East and Africa (11%+) are growing, but not as quickly as Europe (19%+).

Global B2C e-commerce is expected to increase to USD 1.84 trillion in 2017, and Asia Pacific will have the highest share of the total B2C ecommerce turnover (50%). China continues to have the largest B2C ecommerce market, with more than USD 681 billion in turnover, followed by the US with USD 438 billion and the UK with USD 196 billion. Moreover, Australia and Turkey show the largest ecommerce turnover growth rates with 40% and 31% respectively.

Europe has the highest e-GDP of all regions with 4.91%, but is closely followed by the Asia Pacific with 4.87%. The UK has the highest e-GDP with 7.9%, then China with 5.8%, followed by France with 3.95%. Moreover, the UK has the highest share of e-shoppers, with 81% of the total population online and 98% of the online population having shopped online. In contrast, only 15% of Indonesia’s population is online, of which, only 29% shopped online. The e-shopper population is growing the fastest in Indonesia, which is experiencing an annual growth rate of 24.2%. Additionally, the average spending per e-shopper globally has increased since 2016 to $1,425 per person, per year, at a 7.4% annual growth rate.

The report also uncovers the correlation between social media and ecommerce trends. Over 53% of global consumers state that social media affects their online purchasing habits, and over 34% share their mobile purchase and online experiences via social media. Additionally, Facebook remains the most popular social media platform for consumer feedback globally (average of 46%), and is the social media platform used by all generations, including Baby Boomers (25%), Generation X (29%), and Millennials (34%).

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Keywords: global ecommerce, Ecommerce Europe, retail, B2B, B2C, e-GDP, e-shopper, social media
Categories: Payments & Commerce | Ecommerce
Countries: World
This article is part of category

Payments & Commerce