A recent study conducted by card processing specialist Merchant Marine has identified China, the US, and the UK as the world’s largest B2C online markets. While China leads in absolute online spending with a staggering total of $1.276 trillion last year, the US and UK boast higher per capita spends. The US ranked second with a spending of $830.7 billion and a per capita spend of $3,680, followed closely by the UK with a total spend of $233 billion and a per capita spend of $4,516.
Interestingly, the list of top five online shopping countries also included Denmark and Norway, indicating the strong e-commerce culture in certain European nations. The study revealed that the countries with the highest overall spend did not necessarily have the largest percentage of their income allocated to online purchases. Turkey topped the list with 20% of their income spent online, followed by China, Nigeria, Morocco, and Russia.
Furthermore, the research delved into the product categories that witnessed the most significant growth and decline in the previous year. The COVID-19 pandemic caused a shift in consumer behavior, leading to increased sales of disposable gloves, bread-making machines, and certain food items. Conversely, key segments in the fashion sector such as luggage, suitcases, men’s swimwear, bridal clothing, and men’s formal wear experienced declines ranging from 62% to 77%.
This study offers valuable insights into the changing consumer landscape of online shopping markets worldwide. It underscores the importance of understanding regional trends and preferences to effectively tap into the vast potential of the B2C online market.
For more information on global e-commerce trends, check out Statista’s online shopping statistics and the latest updates from eMarketer on global e-commerce trends.
