B2C e-commerce product sales worldwide are predicted to reach over €1.5 trillion in 2020. The top five markets making the largest contribution to this number are China, the USA, the UK, Japan and Germany, as revealed in the new report from yStats.com.
Among them, China is projected to remain both the largest and the fastest growing, the only country from the top 5 to maintain e-commerce growth rates of above +20% over the forecast period. Overall, a common trend predicted by the majority of primary sources cited in the report are declining year-on-year growth rates as these markets mature.
Besides China, double-digit growth rates of online retail sales are also expected in Japan, the world’s fourth and Asia-Pacific’s second largest B2C e-commerce market. The UK is the leader among the top 5 in B2C e-commerce’s share of total retail sales, and is thus projected to see some of the lowest growth rates through 2020, as cited in the report by yStats.com
In addition to referring to nearly 30 online retail sales forecasts, the yStats.com report also reveals the top trends which will influence the e-commerce market development in the top 5 countries for the near future. These include the rise of m-commerce sales and cross-border online shopping, as well as omni-channel features.
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