News, Education and Events Decoding Digital Payments & Fraud

News, Education and Events Decoding Digital Payments & Fraud

Global B2C E-Commerce to Reach $1.84 Trillion in 2017: Report

Global B2C E-Commerce to Reach $1.84 Trillion in 2017: Report

Global B2C e-commerce will grow 17 percent in 2017 totaling $1.84 trillion in sales, according to a new report from the Ecommerce Foundation. Not surprisingly, Asia showed the biggest leap, predicted to grow more than 20 percent from last year to this year, while Europe, more surprisingly, will add 19 percent. North America, the most mature e-commerce region in the world, will grow around 10 percent from last year, according to the report (although other U.S.-only figures peg growth a bit higher for at least part of this year). And, researchers said, growth does not appear to be slowing down.

“The data shows that we are far from a growth plateau in the global e-commerce market,” said Sara Lone, research coordinator at the Ecommerce Foundation. “The rate of growth continues to increase, possibly due in large part to healthier economies, improvements to infrastructure and higher rates of cultural acceptance for e-commerce. As we evolve into a more connected world, with substantially more people accessing the Internet, we see new opportunities to create online shoppers, as well as increase the amount of goods/services online shoppers currently purchase.”

The report also found a link between social media use and e-commerce. More than 53 percent of global consumers said social media affects their online purchasing habits.

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