E-Commerce in the world in 2014
yStats.com (a German company) is a business intelligence organization and in their new report, titled “Global B2C E-Commerce and Online Payment Market 2014”, they mention that worldwide, emerging markets such as China, Indonesia, Mexico, India and Russia outpace advanced B2C E-Commerce markets in terms of growth, as Internet user and online shopper penetration in these countries continue to increase every year.
M-Commerce is transforming the retail industry worldwide, as mobile traffic to retail sites surges and the variety of products purchased on mobile grows. In markets such as North America and Europe, the share of M-Commerce on total online retail already reaches a minimum of 10%.
Payment by credit card continues to predominate worldwide, however alternative payment methods such as E-Wallets are on the rise. In emerging markets, as Middle East and Africa, cash on delivery (COD) dominates over credit card payments.
E-Commerce in Africa
Ndubuisi Ekekwe (founder of the African Institution of Technology) shares in an article written for the Harvard Business Review the challenges facing e-commerce startups in Africa.
In a nutshell, those challenges are: distrust to online shopping, due to online fraud; high cost of broadband; logistics because of nonfunctioning postal systems; the African open market or overabundance of markets; fragmented markets, with cross-border payments, languages, cultural differences; and literacy rates.
These challenges are not only African, as they can affect to Latin America and also some countries in Asia.