According to the findings included in the white paper, in Brazil, online shopping is in its early stage but ahead of other Latin American countries. Overall online spending has jumped by 40 percent in 2010 and Forrester Research estimates that the Brazilian market will reach USD 22.0 billion in 2016.
In Russia, total B2C e-commerce sales are estimated to reach approximately USD 7.0 billion by the end of 2011. This number is predicted to grow by 40 percent each year over the next five years. Currently, Russians predominantly rely on cash payments.
In India, 20 percent of internet users make online purchases, while 80 percent of internet users search for products online. Cash is the preferred payment method for the majority of the population. Nevertheless, the online payment industry has witnessed strong growth in recent years.
China’s total e-commerce revenue is expected to reach USD 95 billion by the end of 2011 and to grow to USD 421 billion by 2015. With a penetration rate of 36 percent, China has the world’s largest internet population.
The Paypers had the chance to conduct an interview with Koen Vanpraet (CCO) and John Snoek (VP, Global Marketing) about the most important aspects outlined by the white paper, including e-commerce opportunities in the region, challenges in terms of payments (per country) and specific ingredients for decision making on a payments strategy. The interview will be published on our website soon.
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