A new publication by Germany-based secondary market research leader yStats.com sheds light on the most prominent B2C E-Commerce trends worldwide. Their report titled “Trends in Worldwide Internet Retail 2016” concludes that M-Commerce, cross-border online shopping and omnichannel commerce are among the overarching trends in global online retailing.
As B2C E-Commerce continues to evolve around the world, several important market trends have emerged. These are the result of the continuous market development, technology advancement and growing interconnectedness of consumers worldwide. Although global online shoppers differ in their preferences regarding which products to purchase, and which delivery and payment methods to choose, some market trends are shared by multiple emerging and advanced markets, as the new report by yStats.com reveals.
The persistent rise of M-Commerce is one example of an overarching trend. A global consumer survey cited in the yStats.com report revealed that nearly half of online shoppers worldwide bought products via mobile platforms in 2015, a noticeable improvement on 2014. In the countries of East Asia the convenience of buying on-the-go drives M-Commerce sales up, such as in South Korea where they reached a medium-high double-digit percentage share of total online revenues. In Africa, mobile is the most common Internet access type which likewise drives up mobile commerce on that continent. Furthermore, the use of mobile devices serves as a link between the online and offline sales channels, leading to the strengthening omnichannel trend.
Another prominent B2C E-Commerce trend in the increasingly interconnected world is cross-border shopping via the Internet. Online customers no longer limit their choice of online retailers to local websites and look at overseas offers in search for better prices and product availability. Online shoppers in smaller markets, such as Ireland, Austria and Singapore, were especially likely to buy from overseas retailers in late 2015, according to the findings of the yStats.com report. Some of the large advanced online retail markets, Japan, the USA and Germany among them, on the other hand, ranked among the countries with the lowest cross-border online shopper penetration rates, but with double-digit shares nonetheless. On the global scale, cross-border B2C E-Commerce sales are predicted to grow rapidly through 2020.