I came across figures from insights provider eMarketer revealing that, by the end of 2013, global online retail sales will surge to more than $1.2 trillion. E-commerce businesses in Western Europe will likely show a double-digit growth, despite the market’s greater maturity compared to other regions.
According to eMarketer’s predictions, the spike in e-commerce will be fuelled by the improved performance of online retailers in the Middle East and North Africa (MENA), which are forecast to see the fastest growth in sales.
Overall, business-to-consumer (B2C) e-commerce sales will go up at an average global rate of 17% in 2013, with those operating in MENA seeing nearly double growth of 31%. Online retailers operating in Asia-Pacific are expected to display the second fastest growth rate in online sales. The region currently contributes nearly a third to global e-commerce sales, but according to eMarketer it will outstrip North America and emerge as the world’s top e-commerce market next year.
North America, albeit a mature market, will see a 12% increase in online retail sales this year. Western Europe, where many consumers are also digital buyers, will record a slightly higher rise, at 14%, with sales reaching $291 billion.
In addition, Latin America is predicted to deliver above-average growth in e-commerce sales (22%), whilst central European countries are forecast to see a 20.9% increase.