Great Britain is the most developed online retail market
Cushman & Wakefield compared retail market size and infrastructure in more than 100 countries to identify the most developed online retail markets. The United Kingdom was recognized as the most developed market for online shopping in the world, thanks to the volume of online sales per capita, a significant share of the online shopping market in total retail trade, the ease of starting an online business and access to social networks.
The US online market was named the largest, accounting for a third of all online purchases in the world - 187 million dollars, according to the international research "Global Perspective on Retail".
The first places in the ranking are occupied by developed countries in Europe, Asia and North America, however, the development of m-commerce may shift focus to emerging markets, especially in Asia, where mobile penetration is more active, the study said.
The report identified countries that could take the lead in terms of online commerce in the future. China is seen as the main potential leader. However, Cushman & Wakefield believes that Malaysia could become a "rising star" in online shopping (currently ranked 34th in the overall ranking), which is associated with both a developed infrastructure and a large buying potential.
Russia, which occupies 26's ranking position, may become one of the leading players in the online trading market, the report said. Russia ranks 9 in the world in terms of online sales of 12 million euros (Euromonitor data), while online trading accounts for only 2,2% of total retail sales. The development of online retail in Russia is hindered by long delivery times and low credit card distribution.
Brazil, which occupies the 21 place in the ranking, is ahead of Mexico (36 place) in terms of consumer spending, due to the developed infrastructure and the active use of credit cards.
The online trading market within countries may be heterogeneous and will concentrate in large cities where infrastructure exists. Such unevenness in the domestic online trading market will be characteristic of China (18 place) and Turkey (27 place).
The volume of international online trade has been growing annually by 18% for the past three years, which is significantly higher than the growth rate of retail trade in other channels (1,3% per year). A growing number of retailers are trying to expand their market share through the use of the Internet as a sales channel. Gradually, a multi-channel promotion strategy will become dominant in both mature and emerging markets.
Cushman & Wakefield compared retail market size and infrastructure across more than 100 countries to identify the most developed online retail markets. The most developed market ...
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Retail Arithmetic
Before you begin to solve specific problems, you need to find out how accurately all the leaders of your company understand the basic terminology of retail.
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