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Online shopping in Africa has blossomed in recent times, riding on the back of improved broadband access. Nigeria, Africa’s largest economy, is leading the way in e-commerce growth, with 65 percent of the country’s 50 million internet users having at one time or the other shopped online.
This is according to a recent study conducted in Nigeria by Ipsos, a global market research company, on behalf of PayPal. Those who have not shopped online, making up 24 percent of the country’s total internet users expect to do so in the future.
The results of the study confirm Nigeria as Africa’s leading e-commerce nation in the amount of potential and existing online shoppers, which is at 89 percent, compared to South Africa’s 70 percent and Kenya’s 60 percent.
Nigeria is Africa’s leading E-Commerce nation in the amount of potential and existing online shoppers, which is at 89%, compared to South Africa’s 70% and Kenya’s 60%. The most popular items purchased online are digital goods, apparel, footwear, and CDs.
Books, airline tickets, hotel reservations, events/concerts/sports tickets, music, and computer software are the most purchased items online.
According to eMarketer’s latest forecasts, worldwide business-to-consumer (B2C) ecommerce sales will increase by 20.1% this year to reach $1.500 trillion. Growth will come primarily from the rapidly expanding online and mobile user bases in emerging markets, increases in mcommerce sales, advancing shipping and payment options, and the push into new international markets by major brands.
In 2014, for the first time, consumers in Asia-Pacific will spend more on ecommerce purchases than those in North America, making it the largest regional ecommerce market in the world. This year alone, B2C ecommerce sales are expected to reach $525.2 billion in the region, compared with $482.6 billion in North America.
China has surpassed 649 million internet users, outnumbering the entire US population two to one. The growth of mobile Internet is largely credited for this increase, with 80% of users using smartphones and tablets to connect.
Increasingly, E-Commerce and M-Commerce in Hong Kong are becoming one and the same. While only 376,000 people in Hong Kong engaged in mobile transactions in 2011, that number grew to 1.1 million in 2012, from one to five to more than 50% of the online population.
India currently has over 300 million internet users. E-shoppers spent $16 billion in 2013, which is an 88% increase from $8.5 billion in 2012. This figure is expected to jump to $56 billion by 2023.
Japan has a population of over 127 million people; 109 million of which are Internet users. 80% of E-shoppers have an account with Rakuten, a Mamenta supported marketplace. There are also more pets than children here. They may be onto something.
Macau, situated 37 miles southwest of Hong Kong, reached a mobile market penetration of 300% in 2013.
Russian internet users have proven very fond of overseas brands. In 2013 the top 25 brands searched for on Yandex, the top Russian search engine, were all overseas fashion brands. Additionally, Russia has the third highest economic growth rate in the world
Singapore sees just under three-quarters (73%) of its 5.4 million population connected to the internet, one of the highest in the region. A recent study by Visa shows that 26% of Singaporeans shop online at least once a week, and 58% purchase online at least once a month.
With an online penetration of more than 84%, South Korea ranks as one of the most connected online marketplaces.
The online retail industry in Europe will probably increase with the same growth rate as last year. Ecommerce sales grew from €131.61 billion to €156.28 billion last year, which corresponds with a growth rate of 18.4%. And it’s expected the ecommerce industry will increase with this same growth rate in 2015, so it will be worth €185.39 billion at the end of the year.
When we look at some individual European countries, we’ll see that the United Kingdom, Germany and France are – of course – still the biggest ecommerce countries on this continent. Online sales in the UK are expected to grow by 16.2% this year, which is more than last year and probably will be more than the growth rate in 2016. The British ecommerce industry is expected to reach 61.84 billion euros this year. In Germany, the industry will be probably worth 52.79 billion euros and in France, ecommerce sales will reach 36.53 billion euros.
The hardest growth rate (year-on-year) can be found in Germany, where online sales is expected to increase by 23.1%. That’s quite surprising for such a big and mature ecommerce market. Also Poland (21%) and Italy (19%) show some lovely numbers. These are also countries where the growth rate will be even higher (respectively 22.5% and 19.7%).
Travel-related products, fashion products, and event tickets are top sellers among Belgians. Also, there are over 800 kinds of beers made here. That is art at its finest.
Croatia gives retailers opportunities to tap into new Internet adopters with high mobile engagement.
Denmark, which shares a land border with Germany and is connected to Sweden by a bridge, now holds 15th place in global retail E-Commerce.
France is ranked as the sixth biggest E-Commerce market worldwide, superseded in Europe by only Germany and the UK. Travel and tourism prove popular, with 59% of users having bought a trip or a travel ticket online. Other popular product categories are digital media and consumer electronics.
The most common online-bought products include tourism related services and tickets, clothing, shoes, and hobby related products.
The online retail market in Germany is projected to grow 12% yearly through 2017. Online fashion is the most popular product category in Germany, followed by consumer media and electronics.
In the last year, E-Commerce revenue has increased by 51%, website traffic is up by 30%, and average revenue per visit has grown by 17% compared to the same period the year before.
Italy has 61 million inhabitants, 16 million of which are online shoppers. This number is expected to increase to around 20 million by 2018. Also, have you tried the food here? Yeah, thank you Italy!
E-Commerce sales grew to $7.4 billion in the first six months of 2013, a growth of 8% compared to the same period one year ago. Slightly more than half of total online revenue consists of the sale of clothing and books. The fastest growing segment is toys.
Currently, there are nearly 3 million E-Shoppers in Portugal. This number is expected to jump to more than 9 million by 2020.
E-Commerce in Spain makes up 1.8% of total retail. This is low, but, generally, Spain boasts the highest E-Commerce turnover in Southern Europe. About 43% of transactions are cross-border online purchases.
Fashion and sporting goods are the two most popular product categories in the UK, followed by travel and household items.
The UAE has led the growth of B2C E-Commerce in the Middle East in the past several years by several measures. Apart from being the largest online market in terms of sales, it also has the best infrastructure for B2C E-Commerce, with the highest mobile, smartphone, Internet and payment card penetration. With more consumers shopping online every year, the share of B2C E-Commerce on total retail sales of goods in the UAE is forecasted to triple between 2014 and 2019.
Saudi Arabia is the second largest B2C E-Commerce market in the region. M-Commerce has an especially high potential there, with more than two-thirds of online shoppers making their latest online purchase via smartphones according to a survey done last year.
UAE-based online merchant Souq is one of the most prominent players on the B2C E-Commerce market in the Middle East. Souq is the unbeaten leader in its home country and has received over a hundred million USD of investment. International players, such as Amazon.com, eBay and Aliexpress are also among the most popular destinations for online shopping across the markets in the region.
More than 5% of total retail sales in Bahrain occur online, much higher than the regional average. As internet connections spread, and the population becomes more familiar with E-Commerce, growth rates of around 20% per year are expected for the next few years.
Israel is in fourth place in the world in internet searches for product purchases, smartphone use in Israel is very high, as is the use of smartphones to check products and make price comparisons at a store.
The total number of e-commerce users in Jordan stood at around 514,000 in 2011, accounting for a penetration rate of only 8.2%. The amount spent saw a significant increase, going from $192m spending in 2010, to almost doubling to $370m in 2011.
E-Commerce has played a vital role in the Middle East’s growth, and Kuwait has seen tremendous growth in this sector over the past 3 years. Souq, a Mamenta supported marketplace, is very popular in this location.
According to a market source, the size of the e-commerce industry in Lebanon is estimated at less than $1M. The source positively estimates that the industry’s potential is grand and can double each year for at least the coming five years
With Internet penetration growing rapidly, Oman looks to be a diamond in the rough for many investors in 2016.
In Qatar, the country with the third highest per capita GDP worldwide, less than 20% of Internet users made purchases online, despite the fact that the majority of residents already have Internet access. Consumer surveys indicate that better prices than in in-store retail could motivate consumers to shop online more.
More than 28 million people live in Saudi Arabia, of whom 15.6 million are internet users, and 3.9 million are making online transactions. The majority of these people are aged between 25 and 54. Airplane tickets are the top purchase, followed by electronics, and hotel reservations.
E-Commerce is the fastest growing business in the UAE, and is expected to be valued at $10 billion by 2018. Airline tickets, hotel reservations, clothing, electronic equipment, and books are the most popular items purchased.
Brazil is currently – and will remain – the largest E-Commerce market in Latin America: online retail sales of $18 billion in 2015 nearly triple those for Mexico and Argentina combined. It is projected that overall business-to-consumer and consumer-to-consumer online retail revenue in Brazil will grow from $15 billion in 2013 to $35 billion by 2018, a compound annual growth rate of 18.5%.
Canada is a global leader in internet usage. Canadians are the fastest adopters of smartphones, meaning electronic communication equals mobile communication, and thus that electronic commerce equals mobile commerce.
Though Mexico’s market size is smaller than other Latin America countries; it is, in particular, becoming a popular market for E-Commerce brands expanding internationally.
In 2012, U.S. retail E-Commerce sales amounted to $225.5 billion, and are projected to grow to over $434.2 billion in 2017. An Experian survey found that 55% of E-Shoppers live in households with incomes above $75,000, and 40% live in households earning $100,000 and above.
Australian E-Commerce sales were at $27 billion in 2010, and reached $37+ billion in 2013. Increasing numbers of Australians are favoring online shopping over brick and mortar stores.
There are now roughly 1.9 million New Zealanders shopping online, 56 percent of the total population. In the last year, the number of people shopping online increased by over 100,000 – a growth of 6%.
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