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eCommerce is booming all over the world. With each passing day, new eCommerce markets emerge, while established markets keep on reaching new heights. Here, we've examined the world's largest eCommerce markets by country, as well as the current state of the eCommerce industry in each one.
China is now the world's largest eCommerce market, driven by companies under the Alibaba Group such as Taobao, Alibaba.com, Tmall, and others. China is also one of the fastest-growing eCommerce markets, with annual online sales reaching $672 billion and a 35 percent annual growth rate.
The United States is currently the world's second-largest eCommerce market, with annual online sales of roughly $340 billion, after dominating the industry for more than a decade. The United States, led by eCommerce behemoths Amazon and eBay, has had solid eCommerce growth across the board and, for the most part, has been the epicenter of new eCommerce trends.
The United Kingdom is a major eCommerce participant, with online sales of around $99 billion per year, and it comfortably holds third place on this index. The major eCommerce websites in the United Kingdom include Amazon U.K., Argos, and Play.com. Not to mention, the country has one of the highest percentages of overall retail sales in eCommerce, at 14.5 percent.
Japan is the world's biggest eCommerce and mobile commerce (mCommerce) player, ranking fourth on the list with $79 billion in annual online sales. Rakuten is Japan's largest eCommerce platform, having bought other eCommerce sites around the world over the years.
After the United Kingdom, Germany is Europe's second-largest eCommerce market. Amazon also has a stronghold in Germany's market. Other prominent eCommerce players in Germany include eBay and Otto, a local online store. Germany earns $73 billion in annual online sales.
With these top performers depending heavily on local eCommerce giants, the biggest eCommerce trend right now is extending product availability across numerous channels. Companies will expand their sales channels to include sites like Amazon, eBay, and even social media sites, rather than selling exclusively through a specific brand website.
To keep up, you'll need to develop a complete eCommerce strategy that involves everything from setting goals, optimizing categories, to deciding which channels to target.
Visit Bliss Drive today and check out our competitive analysis services to see how you stack up against other eCommerce businesses in your market and figure out how to get ahead of the competition.
