2014: Global B2C e-commerce sales to reach USD 1.5 trillion
Wednesday, 5th February 2014
According to this, global B2C e-commerce sales are expected to reach USD 1.5 trillion in 2014 driven by growth in emerging markets.
"Worldwide business-to-consumer (B2C) e-commerce sales will increase by 20.1% in 2014 to reach USD 1.5 trillion. Growth will come primarily from the rapidly expanding online and mobile user bases in emerging markets, increases in m-commerce sales, advancing shipping and payment options, and the push into new international markets by major brands."
"Results predict that in 2014, for the first time, consumers in Asia-Pacific will spend more on e-commerce purchases than those in North America, making it the largest regional e-commerce market in the world. This year alone, B2C e-commerce sales are expected to reach USD 525.2 billion in the region, compared with USD 482.6 billion in North America."
"China will take in more than six of every USD 10 spent on e-commerce in Asia-Pacific in 2014 and almost three-quarters of regional spending by 2017. The country’s e-commerce market is second only to the US, but this is not expected to last much longer. Beginning in 2016, China will overtake the US in spending. Massive gains in China, as well as in India and Indonesia, will push Asia-Pacific’s growth ahead."
"These countries, along with Argentina, Mexico, Brazil, Russia, Italy and Canada, will drive e-commerce sales growth worldwide. E-commerce markets in other countries are nearing maturity."
"The strength of sales in emerging markets is due to their large populations coming online and buying there for the first time. Asia-Pacific will claim more than 46% of digital buyers worldwide in 2014, though these users will only account for 16.9% of the region’s population. Penetration will also be low in Central and Eastern Europe, Latin America, and the Middle East and Africa. For now, North America and Western Europe are the only regions where a majority of residents will make purchases via digital channels."
India's first e-Commerce store to accept Bitcoin only as a payment method
Wednesday, 5th February 2014
According to this , an online retail marketplace HighKart.com will be the first e-commerce website in India to accept 'Bitcoin payment' for products.
"Their objective is to make purchasing easy and secure for anybody who has internet access. Today, they are present across various categories including mobiles, cameras, and computers with a lot more to come"
"The concept originated from high level of customer service and high discount Pricing using pathbreaking cryptocurrency Bitcoin. (...) With Bitcoin the number of benefits associated are many, including very low / nil transaction fees, no chargebacks and no delays for starting to accept with an unprecedented security factor. (...) There is no need to look it at as a barrier as with technology up-gradation, advancement and acceptability it will have a much larger user base than usual payment systems. We are working very hard and with great community support looking forward to make the cryptocurrency as mainstream currency and not just virtual currency. (...) We do not store Bitcoin with us and with great support from our payment processor we are able to encash it on same day, which reduces any kind of risk involved due to volatility of Bitcoin."
840 mln contactless transactions with Visa cards in Poland
Wednesday, 5th February 2014
The Paypers published an article about contactless transactions in Poland.
"The number of contactless transactions with Visa cards reached nearly 840 million in 2013 in Poland."
"The figure makes Poland the number one country for Visa contactless payments in Europe, with the monthly number of contactless payments reaching 20 million."
"The growth in contactless payments, which stood at 11.3 %, was almost twice as large as the increase in the number of payments in general (including cash withdrawals from ATMs), which grew by 6.8 %."
For e-Commerce web performance, milliseconds matter
Monday, 3rd February 2014
CenturyLink published last year an article, how web performance influences e-commerce.
"You can have the most beautiful e-commerce site in the world, but if the page doesn't load fast enough, people will leave!"
"Kissmetrics found 40 percent of visitors abandon websites taking more than three seconds to load, and 79 percent of shoppers dissatisfied with website performance are less likely to buy from the same site again.
"This same study also found a one-second delay in page response can result in a 7 percent reduction in conversions. This means if your e-commerce site makes $100,000 per day, a one-second page delay could potentially cost you $2.5 million in lost sales every year. (...) People will visit a website less often if it is slower than a close competitor by more than 250 milliseconds (a millisecond is a thousandth of a second)."
"Right now, studies find mobile users a little more forgiving, with many willing to wait 6 to 10 seconds before abandoning a page. But as the mobile web becomes the norm, it won't be long before user expectations change. Currently nearly 75 percent of mobile users say they've encountered a website that was too slow to load."
eCommerce Beyond the Cities: How to Reach Rural Consumers and Navigate Logistics
Sunday, 2nd February 2014
According to this, rising Internet penetration and adoption of online shopping among the masses across the India, force companies selling products and services through websites to look at smaller cities in order to expand their business.
"According to eBay India Census 2012 report eCommerce is here to stay. The research findings were based on an analysis of all online buying and selling transactions by Indians on eBay between July 1, 2011 and December 31, 2012. The marketplace had around 4500 eCommerce hubs during the time of study, of which over a thousand hubs were located in rural India, indicating that consumers in the smaller towns of India are a major force in this online growth story."
"eCommerce companies face a number of operational hurdles, especially in rural areas - given the poor infrastructure available in those parts of the country. The low literacy rate in the country is the another problem for the growth of eCommerce, as even the educated people in rural areas are not able to handle cyber technology."
“In recent years, rural markets have acquired significance, as the overall growth of the Indian economy has resulted in the substantial increase in the purchasing power of the rural communities. In fact estimates show rural markets are growing much faster than urban markets. But there are a number of factors hindering the growth of eCommerce in the country, biggest of which are low Internet penetration, payments and distribution logistics.”
"eCommerce companies struggle to reach the unreachables in many remote areas including many states in Northeast India due to poor transportation facility."
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