Asia – Pacific region is predicted to become the world’s largest B2C E-Commerce market. As per a report by YStats, between 2013 and 2018 it is forecasted to grow by over 20% annually and surpass North America to become the number one region worldwide in terms of B2C E-Commerce sales.
The three largest companies based in the region are China-based Alibaba and JD.com, and Japan’s Rakuten. While Alibaba and JD.com shine on the global stage through IPO offerings, Rakuten pursues customers around the globe by launching marketplaces beyond the home region.
China is the largest online shopping market in the Asia-Pacific region and second largest worldwide. The number of online shoppers, at over 300 million in 2013 continues to grow as Internet penetration continues along with development of mobile and social channels for online shopping and the rise in purchases of luxury goods online.
B2C E-Commerce is growing fast in India also, with rates of above 50% and further strong growth projected for the next five years. Mobile commerce especially has great potential for development, as over 90% of Internet users access the web through mobile connections. More foreign players may invest into the market’s growth if the country’s government decides to ease the FDI restriction in the B2C E-Commerce sector.
To access the full report, click here.Category Business Ecommerce