August 8, 2014 at 14:42Promising E-Commerce Markets
The first online store appeared in America in 1994. In 1998, its turnover exceeded a billion dollars. Since then, the United States has been considered the leader in e-commerce in the world for the past 20 years. Today, the Asia-Pacific region is becoming the world's largest e-commerce market , sending North America to the background.
According to a recent study by E-Marketer B2C e-commerce, sales will grow in the world by 20.1% this year and reach $ 1.5 trillion. The growth will occur mainly due to the increasing number of mobile devices and Internet users in emerging markets, the penetration of mobile sales, the development of delivery and payment options, and the entry of international brands into new markets.
In 2014, Asians will spend more on online shopping for the first time than Americans. Thus, the new largest regional e-commerce market emerges. This year, B2C e-commerce sales are expected to reach $ 525.2 billion in the Asia-Pacific region, compared with $ 482.6 billion in North America.
China
China will receive 6 from every 10 dollars spent this year on electronic purchases in the Asia-Pacific region, and about ⅔ of all regional spending by 2017.
So far, China's e-commerce market is second only to the United States, but not for long. By 2016, China will overtake the United States in spending. Strengthening China, as well as India and Indonesia, catalyze the growth of the Asia-Pacific region as a whole
These countries, along with Argentina, Mexico, Brazil, Russia, Italy and Canada, stimulate an increase in the share of sales in the e-commerce segment around the world.
The increase in sales in emerging markets is largely due to the large population of these countries, which goes online and masters online shopping. The Asia-Pacific region claims 46% of virtual buyers worldwide in 2014, which is only 16.9% of the region’s population.
E-commerce penetration remains low in Eastern Europe, Latin America and the Middle East and Africa. But in North America and Western Europe, most residents regularly shop through digital channels.
Top 10 e-commerce markets by turnover. Average spending per buyer per year
Germany
In Central Europe, Germany remains the leader in e-commerce - it generates 25% of the total turnover in the region. E-commerce will account for almost half of German GNP by 2017. 77% of the German population is online (almost 63 million), which makes the country the most important European online shopping market. 42 million Germans - 52% of the country's population, today make purchases on the Internet. The annual turnover in 2013 amounted to 63.4 million euros.
For comparison, last year, the average annual spending on online purchases in Western Europe amounted to $ 2540, and in India 665 per person.
India
India currently has over 200 million Internet users, 89 million visit online stores. The number of people actually making purchases is much smaller - 14-15 million. Quantitatively, this is not so small when compared, for example, with the whole of Northern Europe, where 19 million people make online purchases and the growth potential has already been exhausted.
EBay came to India nine years ago through the acquisition of Baazee.com. The entire evolution of e-commerce has occurred in India in about 15 years. In developed markets such as the United States, it took 50-60 years.
The growth of the e-commerce industry here is 55-60% per year, this is from $ 2.1 billion to $ 3.2 billion in 2014.
South Korea
South Korea was the tenth largest international market in 2013 in terms of sales. The potential for moving e-commerce forward is growing here. Almost 80% of the country's population is online, making South Korea the most connected country on the planet. Top buyers who shopped for the BorderFree platform spent an average of $ 791 each last year. In retail e-commerce, spending is projected to increase from a total of $ 19.0 billion in 2013 to $ 25.3 billion by 2017, an increase of more than 33%.
Philippines
The Philippines is fast becoming one of the four “hot e-commerce markets," according to the Association of Southeast Asian Nations, and the local economy is a fertile market for online sales. Filipinos are also among the most active social media users around the world. Using Facebook is almost universal. Based on data from the International Telecommunication Union, Internet penetration in the Philippines remains small - only 36%, but as many as 35 million users are online.
In contrast, Singapore has a higher Internet penetration rate of 74%, but only 3.9 million is online. In Malaysia, penetration was 65.8%, with a population of 19 million.
Unlike the export-oriented economies of most Asian countries, more than 70% of the Philippines' GDP comes from consumption. In terms of logistics, the Philippines has loyal prices for the delivery of consumer goods thanks to foreign companies such as FedEx and DHL.
As everyone has already understood, the next online store needs to be done for Filipinos. And there are several reasons for this:
- no difficulties with localization. The Philippines is the third largest English-speaking state after the United States and Great Britain.
- The Philippines occupies 12th place among the most densely populated countries in the world, the population of this country is 90 million people.
- The mobile version of the store is a must. Almost all Philippines intercity buses have free Wi-Fi.
- And also buses - the coldest place in the Philippines. Buy & Chill.
- In the Philippines, abortion and divorce are prohibited.
- Filipinos most often do not shave their legs.
Despite the last two constraints, these considerations make the prospect of entering the Philippines e-commerce market very attractive.
According to a recent study by E-Marketer B2C e-commerce, sales will grow in the world by 20.1% this year and reach $ 1.5 trillion. The growth will occur mainly due to the increasing number of mobile devices and Internet users in emerging markets, the penetration of mobile sales, the development of delivery and payment options, and the entry of international brands into new markets.
In 2014, Asians will spend more on online shopping for the first time than Americans. Thus, the new largest regional e-commerce market emerges. This year, B2C e-commerce sales are expected to reach $ 525.2 billion in the Asia-Pacific region, compared with $ 482.6 billion in North America.
China
China will receive 6 from every 10 dollars spent this year on electronic purchases in the Asia-Pacific region, and about ⅔ of all regional spending by 2017.
So far, China's e-commerce market is second only to the United States, but not for long. By 2016, China will overtake the United States in spending. Strengthening China, as well as India and Indonesia, catalyze the growth of the Asia-Pacific region as a whole
These countries, along with Argentina, Mexico, Brazil, Russia, Italy and Canada, stimulate an increase in the share of sales in the e-commerce segment around the world.
The increase in sales in emerging markets is largely due to the large population of these countries, which goes online and masters online shopping. The Asia-Pacific region claims 46% of virtual buyers worldwide in 2014, which is only 16.9% of the region’s population.
E-commerce penetration remains low in Eastern Europe, Latin America and the Middle East and Africa. But in North America and Western Europe, most residents regularly shop through digital channels.
Top 10 e-commerce markets by turnover. Average spending per buyer per year
Germany
In Central Europe, Germany remains the leader in e-commerce - it generates 25% of the total turnover in the region. E-commerce will account for almost half of German GNP by 2017. 77% of the German population is online (almost 63 million), which makes the country the most important European online shopping market. 42 million Germans - 52% of the country's population, today make purchases on the Internet. The annual turnover in 2013 amounted to 63.4 million euros.
For comparison, last year, the average annual spending on online purchases in Western Europe amounted to $ 2540, and in India 665 per person.
India
India currently has over 200 million Internet users, 89 million visit online stores. The number of people actually making purchases is much smaller - 14-15 million. Quantitatively, this is not so small when compared, for example, with the whole of Northern Europe, where 19 million people make online purchases and the growth potential has already been exhausted.
EBay came to India nine years ago through the acquisition of Baazee.com. The entire evolution of e-commerce has occurred in India in about 15 years. In developed markets such as the United States, it took 50-60 years.
The growth of the e-commerce industry here is 55-60% per year, this is from $ 2.1 billion to $ 3.2 billion in 2014.
South Korea
South Korea was the tenth largest international market in 2013 in terms of sales. The potential for moving e-commerce forward is growing here. Almost 80% of the country's population is online, making South Korea the most connected country on the planet. Top buyers who shopped for the BorderFree platform spent an average of $ 791 each last year. In retail e-commerce, spending is projected to increase from a total of $ 19.0 billion in 2013 to $ 25.3 billion by 2017, an increase of more than 33%.
Philippines
The Philippines is fast becoming one of the four “hot e-commerce markets," according to the Association of Southeast Asian Nations, and the local economy is a fertile market for online sales. Filipinos are also among the most active social media users around the world. Using Facebook is almost universal. Based on data from the International Telecommunication Union, Internet penetration in the Philippines remains small - only 36%, but as many as 35 million users are online.
In contrast, Singapore has a higher Internet penetration rate of 74%, but only 3.9 million is online. In Malaysia, penetration was 65.8%, with a population of 19 million.
Unlike the export-oriented economies of most Asian countries, more than 70% of the Philippines' GDP comes from consumption. In terms of logistics, the Philippines has loyal prices for the delivery of consumer goods thanks to foreign companies such as FedEx and DHL.
As everyone has already understood, the next online store needs to be done for Filipinos. And there are several reasons for this:
- no difficulties with localization. The Philippines is the third largest English-speaking state after the United States and Great Britain.
- The Philippines occupies 12th place among the most densely populated countries in the world, the population of this country is 90 million people.
- The mobile version of the store is a must. Almost all Philippines intercity buses have free Wi-Fi.
- And also buses - the coldest place in the Philippines. Buy & Chill.
- In the Philippines, abortion and divorce are prohibited.
- Filipinos most often do not shave their legs.
Despite the last two constraints, these considerations make the prospect of entering the Philippines e-commerce market very attractive.