China to drive APAC e-commerce
Consumers in Asia-Pacific will spend more on e-commerce purchases than those in North America this year.
That makes the region the world’s largest regional e-commerce market, says researcher eMarketer.
This year alone, B2C e-commerce sales are expected to reach $525.2 billion in the region, compared with $482.6 billion in North America.
China will take in more than six of every 10 dollars spent on e-commerce in Asia-Pacific this year and nearly three-quarters of regional spending by 2017. The country’s e-commerce market is second only to the US, but this is not expected to last much longer. Beginning in 2016, China will overtake the US in spending.
“Massive gains in China, as well as in India and Indonesia, will push Asia-Pacific’s growth ahead,” said eMarketer.
The research predicts worldwide B2C e-commerce sales will increase by 20.1 per cent this year to reach $1.5 trillion. Growth will come primarily from the rapidly expanding online and mobile user bases in emerging markets, increases in m-commerce sales, advancing shipping and payment options, and the push into new international markets by major brands, it says.