Though the US is an undisputed global leader in eCommerce; it’s no longer the global leader.
According to eMarketer, last year eCommerce spending in China was 60% higher than in the US, and in 2017 it will be double. When looking at consumers’ likelihood to spend online, there are at least 7 countries where online spending as a percent of total retail is higher than in the US. Source: http://www.emarketer.com/Article/ Retail-Sales-Worldwide-Will-Top-22-Trillion-This-Year/1011765
While the cultural purchasing trends implied by these statistics provide good initial direction, ultimately you need to look at demand for specific products in specific countries.
To do this, we recommend asking:
- How available is your product in your potential target countries?
- Can you find a wholesale importer?
- Are local eCommerce sites selling it? Remember, Google Translate™ is your friend.
- Are you getting inquiries from potential customers in foreign countries?
- Do you have a unique product that could be customized for a target country, e.g. silkscreened apparel?
Note: Includes products or services ordered using the internet via any device, regardless of the method of payment or fulfillment; excludes travel and event tickets; *forecast from Sep 2014; **excludes Hong Kong. Source eMarketer, Dec 2014
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