News, Education and Events Decoding Digital Payments & Fraud

News, Education and Events Decoding Digital Payments & Fraud

North American E-Commerce to Maintain Double-Digit E-Commerce Growth

North American E-Commerce to Maintain Double-Digit Growth

Despite a maturing market, North America will solidify its place as the second most valuable e-commerce region in the world, boasting double-digit growth rates through at least 2021, according to a new report. When China passed the U.S. in 2012, Asia established itself as the top e-commerce dog. That will not change as China’s growth still eclipses the U.S. and India begins to assert itself as an e-commerce power. But, according to yStats.com, innovations including the continuing advancement of mobile, shopping via voice-enabled virtual assistants and the rise of chatbots will provide enough growth in the U.S. and Canada to maintain North America’s lead over all other comers.

“Despite the advancing maturity, e-commerce revenues still outpace overall retail sales in the U.S. in year-on-year growth rate, incentivizing traditional brick-and-mortar retailers to turn to digital channels for sales expansion,” the report said. “Among them, Walmart targets a high double-digit increase in e-commerce sales for the next year following investments in marketplace and delivery offerings. With competition increasing, established online market leaders also have to find new ways to attract digital shoppers.”

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