Germany-based secondary market research specialist yStats.com has published a new market report, “North America B2C E-Commerce Market 2018”. According to research summarized in this report, online retail in North America is forecasted to evolve at double-digit rates from 2019, spurred by mobile commerce, omnichannel shopping behavior and new technologies.
B2C E-Commerce is expected to show positive dynamics in both economies of North America.
Online retail sales in North America are projected to maintain a compound annual growth rate in the double-digits between 2019 and 2021, according to market forecasts cited in this report by yStats.com. The USA is the largest market in the region and the second largest worldwide. B2C E-Commerce sale in the USA exceed by far the sales volume of Canada, however, by 2021 the online share of total retail sales in Canada is projected to catch up to the comparable figure in the USA. The key driver of E-Commerce development in both countries is the increasing adoption of E-Commerce trends such as mobile commerce, omnichannel shopping, and purchasing via voice-enabled virtual assistants.
Omnichannel shopping is one of the major trends in North America.
The rise of omnichannel commerce is one of the most significant trends in North America, as the yStats.com report reveals. More consumers in the USA and Canada engage in webrooming, researching the product online but purchasing in an offline store, than showrooming, researching in a real store but making a final purchase from a website. The principal reason for this preference is that consumers value the ability to see, touch or try a product before purchase and harbor concerns regarding unsatisfactory delivery conditions or high shipping costs. On the other hand, thanks to advanced smartphone and Internet penetration consumers have an opportunity to compare prices and to search for deals elsewhere while shopping in a real store.
Voice commerce is a rapidly growing emerging technology in the USA.
Another emerging trend highlighted in the yStats.com report is the growing popularity of voice commerce. Voice enabled sales in the USA are projected to increase rapidly, with a twenty-fold increase between 2017 and 2022. US Smart Speaker owners already use the device for many shopping activities, like product research, creating a shopping list, comparing prices or checking for deals and promotions. Nearly a quarter of Smart Speaker users have placed orders for delivery via this device. The projected double-digit growth rate of voice shoppers over the next few years indicates an opportunity for merchants to adapt this emerging technology to their business, allowing the growing number of Smart Speaker users to conveniently access goods and services.
Cross-border shopping widely practiced in Canada.
The major trend of the Canadian online retail market is cross-border E-Commerce. According to research cited in the new yStats.com report, cross-border shopper penetration in Canada almost two times higher than in the USA. Furthermore, over a quarter of online retail sales in Canada are generated via foreign E-Commerce, especially US platforms, such as Amazon, eBay, and Best Buy. Amazon also remains the unchallenged leader of the E-Commerce industry in the USA, followed by eBay in a distant second place.