Global E-Commerce

With e-commerce spending performing well over the past holiday season, retailers are hoping this trend will continue into 2012.

The report forecasts that e-commerce revenue will grow to $680 billion worldwide up 18.9 percent from 2010 revenue. J.P. Morgan anticipates that global e-commerce revenue will hit a whopping $963 billion by 2013. Moreover, the number of people who shop online keeps increasing, with 38 percent buying at least once per month.

Over the next few years, the growth in online retail sales in markets such as Western Europe, Latin America and Asia Pacific is expected to surpass U.S. growth. Given this increase in cross-border e-commerce, many retailers are racing to reach new markets.

Asian nations including India and China are set to drive unprecedented levels of internet-related economic growth among G-20 countries in the next four years, although the UK will remain top dog, according to new research from the Boston Consulting Group.

China has revealed ambitious growth plans to lead the word in e-commerce, quadrupling web sales to reach 18 trillion (£1.4tr) by 2015, but laid out a strict new set of policy measures to get there.

“However, it warned that certain areas would need tightening up in order to drive growth in the industry, in particular payment systems and online security, including a clamp down on the sale of "counterfeit and shoddy goods" writes The Register.

PricewaterhouseCoopers’s latest global survey on the subject found that around 70 per cent of consumers in China shop online at least once a week, compared with 40 per cent in the US and UK and 20 per cent in the Netherlands, France and Switzerland.

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