In a turning point in global ecommerce in 2015, China surpassed the US to become the largest ecommerce market in the world, but its economy also dipped below 7% for the first time since 2009, according to the Asia Pacific Online Retail Forecast 2015 To 2020 report issued by Forrester research company, fibre2fashion.com reports.
India is the fastest growing ecommerce market in the region, although it is the smallest ecommerce market in Forresters forecast. But Indias online sales will grow by more than five-fold by 2020 as the number of online buyers and per capita online spending increase rapidly. However, in addition to underdeveloped logistics and challenging last-mile connectivity, Indias cash-based culture still poses a challenge for ecommerce firms.
Japan, South Korea and Australia are mature ecommerce markets. Each of these countries has all of the characteristics of a mature ecommerce market: high Internet and broadband subscriber penetration, a large percentage of online shoppers, and high per-capita online spending.
But each market has unique characteristics that ecommerce leaders operating in these markets, or thinking about doing so, need to know and consider when crafting their offerings, the source cites.
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