World’s top five markets, namely China, US, UK, Japan and Germany are likely to start witnessing a decline in the growth rate in e-commerce sales by the year 2020, even as e-commerce sales across the world reach Euro 1.5 trillion in the same year, according to the report titled ‘Top 5 Country B2C E-commerce Sales Forecasts: 2016 to 2020’ by yStats – a Germany-based e-commerce and online payment market research company.
The report points out that China is likely to remain the largest and the fastest growing market in the e-commerce sector. It is also expected to be the only country among the top 5 nations to have a growth rate of over 20 per cent over the forecast period.
As per the report findings, Japan also expects double-digit growth rates of online retail sales which is the world’s fourth and Asia-Pacific’s second largest e-retail 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. However, majority of primary sources cited in the report predicts that year-on-year growth rates will decline as these markets mature.
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Highlighted in the report, there are various factors that will influence the development of the e-retail sector in these countries in the near future, which include the rise of m-commerce sales, omni-channel features and cross-border online shopping.
