The new publication by Germany-based secondary market research organization yStats.com, “Global Online Shopping Snapshot 2016,” reveals the growth prospects of global online retail, major market trends, the largest B2C E-Commerce companies, and more.
The global online shopping market has shown rapid growth rates over the past years and is predicted to maintain double-digit growth over the next several years, according to a new publication by yStats.com. Despite some advanced online retail markets showing first signs of maturity and declining growth, on the global scale, B2C E-Commerce accounted for less than 10% of total retail sales and has substantial room for further development.
Asia-Pacific has become the largest online retail market, taking over first place from North America, and is predicted to increase its share of global sales through 2019. The yStat.com report also shows that Germany, China, Japan, the UK and the USA are projected to be the world’s top countries by B2C E-Commerce sales in 2016, while emerging markets such as India are expected to show the fastest growth rates. Among the most prominent online shopping trends, pertaining to both advanced and emerging markets around the globe, are the increasing share of global online shoppers making purchases via mobile channels, the expansion of cross-border B2C E-Commerce, and the strong influence of social media on the online shopping behavior.
Some other interesting facts revealed in the yStats.com report are that alternative payment methods are challenging credit cards in usage by online shoppers and that free shipping remains the most important delivery option in online shopping, though many consumers in the BRIC countries are also eager to get faster shipping for additional delivery charges. Furthermore, E-Commerce marketplaces such as Aliexpress, eBay and others were slightly ahead of retailers’ websites in their reach of global online shoppers last year.