We have already been writing about the huge influence of mobile devices on the advancement of the e-commerce market. However, Forrester went as far as to predict a 10% growth each year on the US e-commerce market and a fractional higher growth rate in Europe (11%). By 2017 this will result into online sales worth $370 billion in the US and $247.1 billion in Europe. This growth is mainly thanks to customers' mobile shopping activities. Despite the ongoing financial downturn there's no sign the e-commerce market suffers.
Sales in US to accelerate
In 2012 e-commerce reached $231 billion worth of e-commerce sales, until the end of 2013 it is expected to grow by 13.4% and reach $262 billion. According to Forrester research, there are a few reasons for this process to occur. Firstly, the existing shoppers are becoming more and more likely to make bigger purchases at online shops. Moreover e-commerce is also about to be joined by 4 million new users who will in most cases focus on smaller orders, such as music files and apps. The final trigger for the growth was concluded to be mobile orders.
In the report you can read:
Mobile presents an opportunity to reach out to shoppers in new ways, influencing the decision to buy at a critical moment. eBusiness execs must support their online strategies with a mobile strategy that considers mobile as more than just another transactional touchpoint. Instead, they must use features like barcode scanning and augmented reality to capture and analyze offline activity in order to more accurately personalize future online interactions and drive web sales.
The runners-up from Western Europe
It's not only the US, whose online sales are about to go over the roof, Western Europe is also about to strike a promising score with its market growth. The sales in 2012 were worth $114 billion and by 2013% they are predicted to reach $165.5 billion , which gives a 14.5% growth. The undisputed leader in this part of the world is Great Britain that contributes 13%, and by 2013 15% of total online sales in the Western European market.
Watch out on the Mediterranean area of Europe. It's no secret that countries, such as Spain and Italy struggle with economic crisis in general. In e-commerce it reflects by only 2% each, in the contribution to total online sales of Western Europe for 2012, but this will change as online shopping becomes a mainstream activity in Spain and Italy over the next five years. Spain is expected to hit €9.1 billion in 2017, equal to 18% annual growth, while Italy will rise to €8.3 billion, with 16 percent growth.
Follow me on Twitter: @PetersOpinion