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BLOG: 10 Key Facts About Global e-Commerce

Posted by in China, Digital, Latest News, Marketing, Trends

Global retail e-Commerce keeps on clicking. Here are 10 top facts about global e-Commerce you need to know:

  1. Global e-commerce sales are set to rise, although the rate of growth will slow: It is expected to rise from nearly US$1 trillion in 2015 to nearly US$1.6 trillion in 2018.
  1. Best place for e-commerce: The US just overtook China as the world’s best place for e-commerce, because it offers an irresistible mix of market size, growth potential, developed infrastructure, and its residents’ eagerness to purchase online.
  1. European e-commerce market seeing strong growth: Ecommerce is set to boom across Europe and North America this year. Online sales are forecast to grow by 16.2% in the UK, while sales across Europe are tipped to grow by 18.4%.
  1. Brits the most frequent online shoppers in Europe: Average Brit expected to spend £1,174 this year online, compared to £820 average spend by European online shoppers.
  1. Sweden’s e-commerce market is the slowest growing in Europe, although it is the most mature. Almost 7 in 10 Swedes shop on the web.
  1. Online spending in China is estimated to reach US$1 trillion by 2019. The growth will be fueled by mobile apps and improving logistics networks, which have helped e-commerce companies reach new customers in smaller cities.
  2. China’s huge role in Asia’s e-commerce market: Currently, 36% of all e-commerce sales in the world come from Asia—and 60% of that comes from China. 
  1. Mobile technology plays a big role in the Asian market’s growth: With Asia’s high mobile Internet penetration rate, 74% of Chinese said they would use their smartphones for price comparisons when making online purchases, compared with 43% from the rest of the world.
  2. Social media is the key to success for e-commerce companies in China. Noticeably, China’s upper middle class women are driving social media and online shopping, spending US$3 trillion annually in China alone.
  3. What Asian consumers buy online: Consumer electronics (69%), books (67%) and clothing and apparel (63%) are the most common types of products purchased online in Asia, with luxury goods only accounting for 6% of total purchases.

 

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Source: Euromonitor, A.T. Kearney’s global e-commerce index, Forrester, Retail Research, Go-Globe.com 

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Sally Maier-Yip is the MD and Founder at 11K. She is a seasoned cross-cultural Public Relations Strategist with a mission to help ambitious companies grow in China, Hong Kong and the UK.

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