In the highly globalized world, today E-commerce has become an obsession with businesses and retailers all over the world. E-commerce is nothing but buying and selling of goods or services or transferring funds with the help of an electronic network primarily the internet. These transactions occur either as business to business, business to consumer, consumer to consumer or consumer to business. This process of buying and selling of goods, products and services online are often referred to as E-commerce or E-business. It has been continuously growing and developing rapidly over last few years and credit goes to the usage of internet worldwide by the techno-savvy generation. Today almost 80% of the population uses smartphones and internet to shop, search and explore the products and the services. Therefore any business has a great scope to market their products and services online and thus seek customer recognition and appreciation.
According to E-commerce foundation, online sales worldwide reached 2,300 billion US dollars in 2015 and in 2025 the annual turnover is expected to reach 250- 350 billion US dollars
Here are the top 10 E-commerce sites that are ruling over the world
China’s E-commerce market ranks first in the whole world with a turnover of 691 billion euros in the year 2015 and continues to remain the first even today. Chinese online retail is dominated by two local marketers and they are Tmall.com(Alibaba) and JD.com they are distinguished by their technological advancement in terms of mobile support. Here the people of this country are noticed to do online shopping mostly on their mobile phones through mobile applications. It was recorded that in 2015 33% of the sales were through a tablet or smartphone. Even the social network Wechat launched its online sales services in 2014 and has been very successful.
In the USA 80% of the population are into online shopping the country stands second highest in the world with a turnover of 537 billion euros in the year 2015. With an expected increase of about 56% in 2020, the country's future is very promising in the E-commerce business. The 72% of the sales in the USA are done through desktop with only 15% on a smartphone and 13 % on tablet. In terms of purchasing behaviour Americans prefer payment by Visa and master cards. If you are planning to sell your products to the US customers it is essential for you to offer card payment options on your E-commerce site.
The United Kingdom
The UK ranks third in the list of global e-commerce markets it is a home for almost 43 million online shoppers with a turnover of 157 billion euros. With a very high penetration rate of 92%, the country represents a real opportunity for increasing sales. In terms of products British mostly prefer ready to wear apparels.
Japan the country of rising sun stands 4th on the list with a turnover of 96 billion euros and more than 109 million internet users. As all know Japanese are love and posses their traditions a lot. Proper use of colours for building your online store and consistency in prices are very important if you are planning to sell your goods in this country.
France overtook Germany by 5th position in the world e-commerce market with a turnover of 65 billion euros. The e-commerce sector in France is constantly expanding every day. If you are planning to sell you goods or services online in France then free home delivery should be the important aspect of your online store. As 47% of the population declared they would rather abandon the product than paying delivery charges or gong and picking it up by themselves.
Representing a turnover of 57.9 billion euros with 52 million online shoppers Germany stands 6th in the list of top global e-commerce markets. More than half of the German retailers sell their products abroad and even the customers buy products from foreign sites. It is important to study buying behaviour of customers in Germany as the rate of returning goods is almost 41 %, adding easy return options to your online store can fetch you more customers.
The e-commerce market in South Korea is doing quite well, while people in this country are very eager to buy products online and almost 60% of the population prefers purchasing products from the mobile application. The most popular networks are Naver, Kakao, Daum and Tistory.
With 59% online shoppers and 26.6 million internet users, the country stands 8th in the list of global e-commerce markets. In terms of purchasing 46% of the population enjoys ordering from the foreign sites. The francophone region of the country delivers help to the French companies as they bypass the language barrier almost 10 million and plus Canadians speak and understand French.
Russian consumers love buying products online because it gives them the opportunity to buy things that are difficult to obtain in local markets. The largest country in the world Russia accounts for 85.8 million internet users including 30 million e-shoppers resulting in the turnover of 20.5 billion euros stand 9th in the list.
Brazil is the largest country in South America with top e-commerce market in Latin America. Most of the population in this country is purchases fashion and accessories online. Developing your business online in Brazil or offering it at local / international market in Portuguese will no doubt increase your sales in this country.
We at Global info cloud help you in providing with an e-commerce site for all those who are looking forward to taking their business online and want to explore global markets. We also help in e-commerce service providing tools which help in managing and taking your business overseas and fetching more customer recognition.