eShopWorld has recently published its ‘Global Ecommerce Market Ranking 2019’ report. In this report, multiple countries are compared across various criteria such as logistics, average shopper spending and more. It may not come as a surprise to everyone that the United States, China and the United Kingdom form the top-three of this e-commerce market ranking. Japan and Germany follow as the numbers 4 and 5 and a lot of European countries follow.
United States is #1
The United States being the number one e-commerce market is largely due to the ease of doing business in America. The logistics infrastructure is great and there is a high demand for cross-border retailers. The US was the birthplace of the online marketplace and Americans, in general, are very trusting online shoppers. Approximately 79% of the population (258.5 million people) has made an online purchase last year. The fact that US online shoppers are very trusting and that they experience a high level of comfort while shopping online also shows in the average amount of money spent per shopper, which is $1951 per year.
China has the largest e-commerce market
The rapidly growing e-commerce market in China ranked second. China has a huge population and the general keen desire to shop online and cross-border to thank for second place. China is currently the biggest e-commerce market in the world, with a market revenue of $636.09 billion in the past year. It also has the highest number of online shoppers (approx. 1 billion) and the highest number of cross-border shoppers (149.42 million).
United Kingdom: fast fashion & bargains
The UK e-commerce market has a total market revenue of $86.45 billion. The market is largely driven by millennials who like fast fashion and bargains. Despite the desire for low prices, the average UK online shoppers spend an outstanding $1650 per year. With nearly 80% of the population shopping online, the UK has the third-highest percentage of online shoppers.
Outside of the top 30 ranking, there are multiple very promising e-commerce markets that are rapidly growing. The e-commerce markets of Thailand, South Africa and New Zealand have grown more than 13% in the past year. Also, the Romanian (11.3%) and Estonian (10.6%) e-commerce markets are experiencing extraordinary growth.
Other striking reveals
- With 84.65%, Sweden has the highest percentage of online shoppers in the world. Korea ranks second with 80.56% of the population shopping online.
- In Portugal and Latvia, 86% of the total online spend is spent on cross-border webshops or platforms. In Ireland, Croatia and Switzerland this percentage is also more than 80%.