With the release of its 2015 Global E-Commerce Index, retail management consultancy firm A T Kearney have revealed some interesting facts about the state of global and cross-border e-commerce. Compiled every year, the index is the product of an in-depth study into the workings of the global e-commerce market, and hopes to help retailers identify new e-commerce opportunities, devise successful global online retail strategies, and identify market investment opportunities. In addition, it also ranks the countries of the world according to the size, growth and success of their national e-commerce market, and takes a closer look at what's happening in cross-border e-commerce.
So what does the 2015 E-Commerce Index tell us about the e-commerce market right now? The major revelation was that the USA, after falling behind China in 2013, saw 15% growth in its e-commerce market in 2014, with much of that stimulated by cross-border sales, moving it back up to first in the overall world rankings. Europe also did well in the rankings, with the UK 3rd, Germany 5th, and France 6th, all moving up at least one place from last year. Whilst many experts expect the countries of the Asia-Pacific region to dominate global e-commerce in years to come, many of those countries actually fell in this year's rankings.
The report also identified four key areas where e-commerce needs to develop in the future: internationalisation, the need for omnichannel strategies, the continuously connected consumer, and the rise of e-commerce IPOs. Of these four it is the first, internationalisation, which is of the most interest to those involved in cross-border and global e-commerce. How exactly will e-commerce react to the increasing internationalisation of the marketplace? The report seems to think that growing internationalisation will present significant challenges to many e-commerce websites, so now is the time for major players and small businesses to begin working on their global and cross-border e-commerce strategy. However, this should be seen as an opportunity for growth, rather than a harbinger of doom for e-commerce businesses.
The full report is available from A T Kearney here.