Description
Countries Covered: Canada, USA
Pages: 185
Publication Date: 16/05/2024
Questions Covered:
- What is the projected number of real-time payment transactions in North America by 2027?
- What percentage of consumers in North America use digital wallets?
- What is the anticipated value of BNPL transactions in the U.S. by 2026?
- What technologies are driving growth in the U.S. B2C E-Commerce market?
- What percentage of online transactions in Canada is projected to be made through digital wallets by 2025?
Key Findings:
North America’s Real-Time Payments are Expected to Skyrocket to 13 Billion Transactions by 2027, Based on the Latest Insights by yStats.com
North America’s Rise in B2C E-Commerce and Future Payment Trends
North America emerged as a significant force in B2C E-Commerce, securing the second global ranking in 2022. Digital wallets saw a surge in popularity, with over 40% of consumers using them for monthly payments. Despite this, credit cards maintained their stronghold, commanding over 50% of online transactions for large purchases. Looking ahead, real-time payments are expected for significant expansion, projected to reach 13 billion transactions by 2027.
Cross-Border B2C E-Commerce Faces Growth and Challenges in North America
Despite challenges like regulatory compliance and logistical issues, cross-border B2C E-Commerce in North America is expanding. Technological advancements in trade documentation are aiding this growth. As found in the new yStats.com report, cross-border B2C E-Commerce constituted over 20% of B2C E-Commerce sales in North America in 2023.
U.S. B2C E-Commerce Market Driven by Advanced Technologies
Advanced technologies such as AI, AR, and blockchain are propelling the U.S. B2C E-Commerce market. These innovations enhance shopping experiences and supply chain efficiency, driving growth in sectors like groceries, apparel, and consumer electronics.
Online Payment Market Shifts Toward Mobile and Real-Time Solutions
The online payment sector is increasingly adopting mobile and real-time solutions. By 2025, digital wallets are expected to account for over a quarter of Canada’s online payments market, highlighting the move towards more efficient payment methods.
1. Key Takeaways
2. Management Summary
3. North America Regional
- B2C E-Commerce Sales Value of Top 3 Global Regions, in USD trillion, 2022
- Breakdown of B2C E-Commerce Sales Value, by Global Regions, in %, 2022
- Share of Payment Methods Used at Least 5 Times Per Month, in % of Consumers, September 2022
- Breakdown of Primary Payment Methods For Online And In-Person Purchase of Large Products And Services, in % of Respondents, September 2022
- Breakdown of Primary Payment Methods For Online And In-Person Purchases of Small Items, in % of Respondents, September 2022
- Share of Internet Users Who Research Brands and Products Online, in %, Q3 2022
- Share of Cross-Border B2C E-Commerce Transactions Making Up Total Sales, in %, January 2023
- Expectations Towards Cross-Border B2C E-Commerce, in % of Organizations, January 2023
- Technology Use in Cross-Border B2C E-Commerce, in % of Organizations, January 2023
- Share of Organizations That Find the Environment for Cross-Border Trade Difficult to Operate in, in %, January 2023
- Top 5 Challenges When Sending B2C E-Commerce Goods Cross-Border, in % of Organizations, January 2023
- Share of Organizations That Say That B2C E-Commerce Goods Are Frequently Delayed Due to Incorrect Classification And Documentation, in %, January 2023
- Top 5 Cross-Border B2C E-Commerce Disruptions Expected to Worsen Over 2023 , in % of Organizations, January 2023
- Online Payment Fraud Loss Value, by Global Regions, in USD billion, 2025f
- Breakdown of Fraudulent B2C E-Commerce Transaction Value, by Global Regions, in %, 2023e
- Real-Time Payments Volume, in billions, 2022 & 2027f
- Real-Time Payments Share of Total Electronic Payments, in %, 2022 & 2027f
- Breakdown of Respondents Who Heard About the Term “Embedded Payments”, in %, April 2022
4. U.S. B2C E-Commerce Market & Payment Innovation Trends
4.1. E-Commerce Market
4.1.1 B2C E-Commerce Market Overview
- B2C E-Commerce Market Trends, April 2024 (1 of 2)
- B2C E-Commerce Market Trends, April 2024 (2 of 2)
- Retail E-Commerce Sales, in USD trillion, in % of Total Retail Sales, 2022-2027f
- Retail Marketplace E-Commerce Sales, in USD billion, in % of Total Retail E-Commerce Sales, 2023e-2027f
- B2C E-Commerce Sales Value Compared to Other Countries/Regions, in USD trillion, 2025f
- B2C E-Commerce Sales, in USD billion, Q4 2022 & Q4 2023e
- Share of B2C E-Commerce Making Up Total Retail Sales, in %, Q4 2022 & Q4 2023e
- Total vs. Online Retail Sales, in USD trillion, 2028f
- Share of Population That Shops Online, in %, 2028f
- Retail E-Commerce Sales, in USD trillion, in % of Total Retail Sales, 2022-2027f
- Year-Over-Year Growth in Online Sales, in %, 2018-2027f
4.1.2. B2C E-Commerce Product Categories
- Retail E-Commerce Sales Share of Total Retail E-Commerce Sales, by Product Category, in % of Total Retail E-Commerce Sales, 2023e & 2027f
- Breakdown of Total B2C E-Commerce Sales, by Product Category, in %, 2026f
- Share of “Food And Beverage And Health, Personal Care, And Beauty” Making Up Total B2C E-Commerce Sales, in %, 2024e & 2028f
- Share of “Health, Personal Care, And Beauty” Sales Originating From B2C E-Commerce, in %, 2024e & 2028f
- Share of “Pet Products” Purchased Through B2C E-Commerce Channels, in %, 2028f
4.1.3 B2C E-Commerce Channels
- Channels Through Which Clothing Brands Or Products Were Discovered, in % of Clothing Buyers, September 2023
4.1.4. B2C E-Commerce Players
- B2C E-Commerce Trends Online Retailers Believe Will Affect Their Business the Most in 2024, in % of Online Retailers, January 2024
- Top 10 B2C E-Commerce Sites, by Monthly Visits, in millions, November 2023
- Top B2C E-Commerce Marketplaces, by Sales Value, in USD billion, 2023e
- Amazon’s B2C E-Commerce Sales, in USD billion, in % of Total B2C E-Commerce Sales, 2020-2025f
- Total Value of Amazon Business Product Sales, in USD billion & Share of Amazon Business Product Sales, in % of B2B E-Commerce Site Sales, 2022e-2026f
- Comparison of Amazon, eBay and Walmart’s E-Commerce Marketplaces, July 2023
4.1.5. Mobile Commerce
- Retail M-Commerce Sales, in USD billion, in % of Total Retail E-Commerce Sales, 2022-2027f
- Share of Retail M-Commerce Making Up Total Retail E-Commerce Sales, in %, 2023e & 2027f
4.1.6. Omnichannel Commerce
- Proximity Mobile Transaction Value, in USD billion, in % of Year-On-Year Change, and % of Retail & Food Services, 2020-2027f
- Click-And-Collect Sales Value, in USD billion, in % of Year-On-Year Change, and % of Retail E-Commerce Sales Value, 2020-2026f
- Digital-Influenced Retail Sales Value, in USD trillion, 2022e & 2027f
- Digital-Influenced Retail Sales Value, by Channel, in USD trillion, 2027f
- Share of Digital-Influenced Retail Sales Making Up Total Retail Sales, in %, 2027f
- Retailers Spending on Omnichannel Retail Solutions, in USD billion, 2022 & 2030f*
- Retailers’ Planned Innovations For Omnichannel Retail, in % of Retailers, June 2023
- Share of Omnichannel Consumer Data Adoption, by Retail Segments, in %, June 2023
4.1.7. Social Commerce
- Social Commerce Market Overview, April 2024
- Share of Social Commerce Making Up Total B2C E-Commerce Sales, in %, 2024e
- Social Commerce Sales, in USD billion, 2020, 2023e & 2027f
- Social Commerce Sales Per Buyer, in USD, 2020, 2023e & 2027f
- Number of Social Commerce Buyers, in millions, 2020, 2023e & 2027f
- Breakdown of Social Commerce Shoppers, by Age, in %, September 2023
- Social Networks Where Adults Are Likely to Make Purchases Directly, Gen Z vs. Total, in % of Adults, Q1 2023
4.1.8. Luxury Recommerce
- Resale E-Commerce Sales, in USD billion, 2023e-2027f
- Resale Apparel Market Size, in USD billion, and Year-on-Year Change, in %, 2021-2027f
- Fashion Online Resale Marketplace Sales, in USD billion, and Year-on-Year Change, in %, 2021e-2026f
- Share of Secondhand Sales Originating From Online Resale, in %, 2024f
- Share of Secondhand Apparel Making Up an Average Adult’s Closet, in %, 2022 & 2032f
- Top 10 Online Fashion Resale Brands, by Number of Resale Shop Listings, January 2023
4.1.9. Cross Border Commerce
- Cross-Border B2C E-Commerce Market Overview, April 2024
4.2. Payment Innovation and Trends
4.2.1. Payment Innovation Trends
- Embedded Finance Transaction Value, in USD trillion, 2021 & 2026f
- Embedded Consumer Payment Transaction Value, in USD trillion, 2021 & 2026f
- Embedded Business-to-Business Payment Revenue, in USD billion, 2021 & 2026f
- Revenues via Different Embedded Finance Segments, in USD billion, 2021 & 2026f
4.2.2. Digital Payment Forecasts
- Number of Proximity Mobile Payment Users, in millions, and Share of Total Smartphone Users, in %, 2021-2026f
- Average Annual Proximity Mobile Payment Spending Value Per User, in USD, 2021-2026f
4.2.3. Online Payment Trends
- Share of Consumers Who Anticipate Increasing or Decreasing Their Use of Select Payment Method For Online Purchases in the Next 12 Months, in %, April 2023
- Mobile Peer-to-Peer Payment Users, in millions, and Penetration Rate, in % of Smartphone Users, 2020-2027f
- Share of Retailers Accepting International Payment Methods Such as Klarna and WeChat, in %, 2022 & 2023e
- Share of Merchants Who Are Planning to Accept New APMs in the Next One to Three Years, in %, July 2023
- Share of Merchants Who Recognize That Failing to Accept APMs Could Impact Sales And Revenue, in %, July 2023
- Proximity Mobile Payment Transaction Value, in USD billion, and Year-on-Year Change, in %, 2020-2027f
- Breakdown of Payment Methods Most Commonly Used For Purchases, in % of Population, 2022 & 2023e
- Breakdown of Most Used Mobile Payment App/Wallet, Online vs. In-Store, in % of Adults, July 2023
- Share of Respondents Who Use at Least One E-Wallet or Mobile Payment App For Online vs In-Store Purchases, in %, July 2023
- Share of Respondents Identifying Top Features That Would Make Them More Comfortable When Making Online Purchases, in %, Apr. 2023
- Share of Adults Who Used a Digital Wallet at Least Once in the Past Month, in %, February 2023
4.2.4. POS Payment Methods
- Share of Shoppers Who Used or Are Willing to Use Self-Checkout via Smartphone, in %, April 2023
- Top Benefits and Challenges of Self-Checkout, in % of Shoppers, April 2023
- Breakdown of Shoppers Who Used a Smartphone (Apple Pay or Google Pay) to Pay at a Retail Store, in %, April 2023
- Number of Smartphone QR Code Scanners, in millions, and Penetration, in % of Smartphone Users, 2022-2026f
4.2.5. Real-Time Payments
- Total Number of Real-Time Transactions, in billions, 2022 & 2027f
- Share of Companies That Use Real-Time Payments, in %, June 2022 & 2024f
4.2.6. AI Integration in Payments
- Overview of AI Use in B2C E-Commerce, June 2023
- Overview of AI Use in Payments, December 2023
- Share of Retail Decision Makers Who Feel Ready to Deploy Generative AI Technology in 2024, in %, November 2023
4.2.7. Buy Now Pay Later
- BNPL Payment Value, in USD billion, & Year-on-Year Change, in %, 2021-2026f
- BNPL Users, in millions, and Penetration Rate, in % of Internet Users, 2021-2026f
- BNPL User Penetration, by Generation, in % of Digital Buyers, 2022e & 2026f
- Annual Growth of Online BNPL Purchase Share & BNPL Revenue, in % of Year-on-Year Growth, 2022 vs January-February 2023
- Annual Increase of BNPL Orders, by Product Category, in %, January-February 2023
- Share of Consumers Who Have Already Used BNPL Services, in %, March 2022 & March 2023
- Share of Consumers That Used BNPL Services, by Age Group, in %, March 2023
- Most Used BNPL Providers, in % of Consumers, March 2023
- Breakdown of Respondents Likely to Use Apple Pay Later Over Other BNPL Services, in %, March 2023
- Breakdown of Respondents Likely to Use Apple Pay Later Over Other BNPL Services, by Age Groups, in %, March 2023
- Payment Methods Used for Online Purchases, in % of Current Apple Customers, March 2023
4.3. Fintech and Financial Services Landscape
4.3.1. Embedded Finance
- Share of Mobile Wallet Users Who Have Made a Purchase Via a Retailer’s Embedded Mobile App, in %, 2023e
- Share of Respondents Who Would Consider Getting Financial Services From a Non-Financial Provider, in %, 2023e
- Share of Respondents Who Would Not Consider Banking With a Non-Financial Provider, in %, March 2023
4.3.2. Fraud and Security
- Total Card-Not-Present (CNP) Fraud Loss, in USD billion, in % of Total Payment Fraud Loss, 2019-2024f
- Share of Adults Who Have Fallen Victim to Account Takeover (ATO) Attacks, in %, 2023e
- Share of Banking Customers Who Say That They Have Been Victimized by a P2P Payment Scam in the Last 12 Months, in %, May 2023
- Breakdown of Banking Customer Satisfaction With Their Bank’s Response to P2P Fraud Claims, in %, May 2023
- Share of Imposter Scams Making Up Total Reported Scams to the Federal Trade Commission, in %, Q3 2023
- Breakdown of Main Reasons Among Respondents For Not Using Mobile Payment Solutions More Often, in % of Respondents, July 2023
5. Canada B2C E-Commerce Market & Payment Innovation Trends
5.1 B2C E-Commerce Market
- B2C E-Commerce Market Overview, May 2024
- B2C E-Commerce Sales, in CAD billion, in % of Total Retail Sales, 2021-2027f
- B2C E-Commerce Sales of Canadian-Based Retailers, in CAD billion, February 2020-February 2024
- Average Number of B2C E-Commerce Orders of Online shoppers Per Month, in Total Numbers, 2019 & 2022
- B2C E-Commerce Payment Transaction Volume, in millions, 2021 & 2022
- B2C E-Commerce Payment Transaction Value, in USD billion, 2021 & 2022
- Share of B2C E-Commerce Sales Making Up Total Retail Sales, in %, 2021 & 2022
- Share of B2C E-Commerce Shoppers Making Up the Total Population, in %, 2022 & 2025f
- Weekly Online Shopping Activities, in % of Internet Users, Q3 2023
- Online Shopping Drivers, in % of Internet Users, Q3 2023
- B2C E-Commerce Market Trends that had the Largest Impact on Performance Over the Past Year, in % of Online Merchants, March 2023
- Breakdown of Businesses Likely to Use B2C E-Com. as a Tool, by Type of Business, in %, 2023e
- Share of Online Merchants who Reported Higher B2C E-Commerce Sales Compared to the Prior Year, in %, 2022
- Share of Online Merchants Who Reported an Annual B2C E-Commerce Sales Growth of 20% or More, in %, 2022
- Share of Online Merchants Who Expected Their B2C E-Commerce Performance to Be Better in 2023 Than in 2022, in %, March 2023
- Reasons Online Merchants Are Optimistic About Their Growth Prospect, in % of Online Merchants, March 2023
- Top Recessionary Responses, in % of Online Merchants, March 2023
- Top B2C E-Commerce & Shopping Websites Ranking, % of Total Traffic Share, March 2024
- Top B2C E-Commerce Marketplace Websites Ranking, % of Total Traffic Share, March 2024
5.2 Buy Now Pay Later
- Top Reasons Non-Accepting Merchants Are Not Interested in Offering BNPL, in % of Online Merchants, 2022e
- Share of Respondents Who Have Not Heard of BNPL Services Before, in %, July 2022
- Share of Respondents Who Have Not Used BNPL Due to Lack of Need for It, in %, July 2022
- Canada B2C E-Commerce Market & Payment Innovation Trends (Cont.)
5.3 Online Payment Trends
- Online Payments Market Overview, May 2024
- Payment Methods Used For B2C E-Commerce Purchases, in % of Online Shoppers, 2022
- Breakdown of B2C E-Commerce Payment Methods, in % of Online Shoppers, 2023e
- Share of Digital Wallets Making Up Total Online Payments, in %, 2025f
- Share of Consumers Who Use Prepaid Cards For Online Purchases, in %, April 2023
- Reasons for Using Prepaid Cards For Making Online Payments, in % of Respondents, April 2023
- Share of Citizens Who Are Worried About Using Their Credit Card Online, in %, April 2023
- Top Alternative Payment Methods Used When Making Online Payments, in % of Respondents, April 2023
- Satisfaction of Payment Methods Used For Making Online Payments, in % of Respondents, April 2023
- Factors That Influence Retailer Selection When Buying Online, incl. “Payments”, in % of Online Shoppers, May 2022
- Share of Food & Retail Transaction Volume, by Payment Type, in %, 2022e-2024f
5.4 Real-Time Payments
- Number of Real-Time Payment Transactions, in billions, 2022 & 2027f
- Average Number of Monthly Real-Time Payment Transactions Per Person, in Total Value, 2022 & 2027f
- Breakdown of Transaction Volume, by Payments Instrument, in % of Total Payment Transaction Volume, 2022 vs 2027f
- Breakdown of Spending Value, by Payments Instrument, in % of Total Payment Spending Value, 2022 vs 2027f
