Global retail e-commerce sales are projected to top $2.3 trillion in 2017, with expected sales of more than four trillion dollars by 2020. And retailers are finding that this e-commerce volume is making up a bigger piece of total retail spending — estimated to hit 14.6% in 2020, up from 10% in 2017.
This growth is showing no signs of slowing down, and merchants should prepare to leverage the new opportunities global e-commerce holds. But first, they must understand the latest e-commerce trends, best international markets and most popular products global consumers are buying.
[IMG]
Source: eMarketer
Research suggests that 53% of global internet users made an online purchase in 2016 – or approximately one billion people. Not to mention that 65% of consumers would purchase globally rather than locally if the price is right.
Just look at the top 10 e-commerce markets by country:
Source: Remarkety, 2016
Asia-Pacific remains the world’s largest retail e-commerce market with sales topping one trillion dollars in 2016, and it’s expected to more than double to $2.725 trillion by 2020. This region also saw the fastest rise in retail e-commerce sales, climbing 31.5% in 2016.
An expanding middle class, greater mobile and internet availability, the growing competition of e-commerce retailers and improved logistics and infrastructure all fueled this dramatic e-commerce growth.
Some markets still emerging onto the e-commerce scene include:
Source: Remarkety, 2016
Research shows that slightly more than 64% of the Chinese online population has made an e-commerce purchase, while the United States has just more than 57% of the population shopping online. Japan, in contrast, has a staggering 80% of its population doing online shopping.
Books, electronics and clothing are among the top purchases for global online shoppers. But what else are consumers buying?
|
Product |
Annual Sales |
Market Share |
|
Software, Books, Music, Flowers |
$38.05 billion |
26% |
|
Computer Hardware, Consumer Electronics, Office Supplies |
$24.8 billion |
16% |
|
Apparel, Footwear, Jewelry, Linens/Home Decor |
$22 billion |
13% |
|
Health, Beauty, Food and Beverage |
$12.4 billion |
8% |
|
Toys, Video Games, Sporting Goods |
$10.975 billion |
7% |
|
Small Appliances, Furniture, Tools, Garden Equipment |
$5.275 billion |
3% |
Source. Statistic Brain
|
Rank |
Best-Selling Internet Products |
|
1 |
Women’s Apparel |
|
2 |
Books |
|
3 |
Computer Hardware |
|
4 |
Computer Software |
|
5 |
Apparel |
|
6 |
Toys/Video Games |
|
7 |
Videos/DVDs |
|
8 |
Health and Beauty |
|
9 |
Consumer Electronics |
|
10 |
Music |
|
11 |
Jewelry |
|
12 |
Office Supplies |
|
13 |
Linens/Home Decor |
|
14 |
Flowers |
|
15 |
Sporting Goods |
|
16 |
Footwear |
|
17 |
Small Appliances |
|
18 |
Tools and Garden |
|
19 |
Gifts |
Safely Expand into International E-Commerce Markets
Global e-commerce is a huge opportunity for online retailers, but it can pose serious risks to those merchants who aren’t prepared to deal with the potential for fraud, payment issues and cultural nuances.
You can count on the experts at ClearSale to help you navigate the tricky waters of international sales. Talk with a ClearSale expert today to learn how our multilayered approach can provide peace of mind as you grow your global e-commerce business.