The publication cites forecasts indicating that emerging markets will lead in online sales growth rates. In some economically emerging regions of the world online retail is as low as one-digit percentage of total retail sales, so the practice of Internet purchasing has ample upward potential. The global share of B2C E-Commerce sales of the early leaders, North America and Western Europe, will fall as the other areas of the world expand their share.
The report points to the increasing Internet connectivity, particularly through mobile devices, and improved local regulations regarding online purchases, as well as better delivery and payment infrastructure as the main drivers of online commerce in the emerging markets. Still in many regions such as in Eastern Europe, Africa and Latin America, a wariness of online payments persists, holding back adoption of the practice of online shopping.
The global share of the regions where major emerging markets are located, such as Asia-Pacific, the Middle East and Africa are predicted to increase through 2019. B2C E-Commerce in the majority of these fast growing markets, with a few notable exceptions such as China, still accounts for a low one-digit share of total retail sales, signaling significant room for growth.
The main growth drivers for online retail in these markets include increasing Internet and mobile connectivity, rising online shopper penetration, as well as improving regulatory, payment and logistics infrastructure. One of the main challenges, on the other hand, is lack of trust in online payments and high cash on delivery usage rates by online shoppers in many emerging countries including Nigeria, Russia, Colombia, Thailand and others.
Furthermore, among the key findings of the new report is the fact that while rapid growth of B2C E-Commerce is a common characteristic of many emerging markets, significant differences exist among individual countries in terms of Internet and online shopper penetration rates, preferred payment and delivery methods, and favorite online product categories.
Questions Answered in this Report:
- How is online retail developing across the emerging markets worldwide?
- What is the B2C E-Commerce market size and growth rates in these countries?
- Which overarching online shopping trends have become evident?
- What are the key online product categories, payment and delivery methods in major emerging markets?
- Who are the leading E-Commerce market players in these countries?