It is obvious that the Internet is making every conversation easier independent of distance. In the world of e-trading, the Online opened new doors, possibilities and certainly, among the hundreds of suggestions that search engines make, you can find the one product or service you desire from someone who delivers in your area.
Did You Know? China Is Blooming
As you might imagine, one of the biggest spending markets in e-commerce is a market that adopts new technologies in a heartbeat and smartly integrates them in the daily life. That’s right, we’re talking about China. With an e-Commerce spending rate of $562 billion, this global market leader embraces online shopping as the fastest growing online activity - the average Internet user being no more than 25 years old.
Chinese consumers cover almost half of global online retail sales with a growth rate of 33% on a yearly basis. By 2020, it is estimated to at least remain at 20%. Retail stores are starting to close some of their locations because of the lack of on-location consumerism, given the huge rise in online shopping.
It is safe to assume that this is one trend that’s here to stay. Question is: will this spread throughout the other countries?
The United States… Of Online Shopping
Although the difference is quite high, the $349 Billion e-commerce spending rate is not something to be neglected. With a yearly steady average growth of about 15%, the United States shows potential as a more stable market. Major retailers are picking up fast: a growing percentage of 43% are starting to offer pick-up delivery spots for online orders. Coffee to go? Sure, but how about shopping to go, as well?
The e-commerce scene in the U.S. is expected to hit USD 482 billion by 2018. The surprise comes in the staggering difference between second and third place in the country online market value.
British Embrace e-Commerce Trends
With only USD 93 billion e-commerce spending rate in 2012, the U.K. showcases online sales as 30% of their economy. However, it is expected to reach $177 billion in the following years. With a decreasing growth rate percentage averaging on 12% on a yearly basis, U.K. consumers spend their money mostly on clothes and travelling, with debit cards being the main form of payment.
Final Thoughts: Where Does That Leave Us?
Truth is, worldwide markets are adopting new form of payments besides credit and debit cards (Paypal, Bitcoin) but some still have unstable fluctuations. There isn’t a consensus in terms of e-Commerce and billing at a universal level, and this leaves way for an unsteady potential for investors. Laws are being drawn in order to control this new commerce environment, but it’s going to take a while until it is fully tamed and can become predictable. Good news is things are become increasingly mobile, so we can all expect further improvements. For sure, e-Commerce is a landscape dwelled by innovation and constant improvement.