China’s e-commerce market is growing rapidly, thanks in no small part to Alibaba, the e-commerce giant with annual transactions greater than both Amazon and eBay combined. However, the US has just taken over as the most ‘attractive’ market for e-commerce.
According to global management consulting firm A.T. Kearney’s biennial global e-commerce index, the US has jumped ahead of China since 2013 because of a heady mix of market size, growth potential and developed infrastructure, and an the readiness with which residents purchase online.
China’s slip is mostly due to a slowdown in growth. However, the report went on to say that a lack of local infrastructure makes it difficult for retailers to deliver packages in less developed areas. Retailers have also been slow to process returns and refunds, Quartz reported.
The US has been boosted by “continued growth and an improving economy”, as Americans get back into shopping. While online shopping makes up less than 10 per cent of all purchases, the American e-commerce market is still the largest in the world. It grew by 15 per cent in 2014 to reach $238 billion.
Most online purchases in the US consist of clothing, electronics and books.
India is still missing from A.T Kearney’s top 30 – despite its massive population, rapidly growing economy and the introduction of new financial services, the firm said that only about 3 per cent of Indians shop online.
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