Global ecommerce remains a tremendous opportunity for enterprising entrepreneurs. A new report from the Ecommerce Foundation shows global B2C ecommerce will grow by 17% in 2017, reaching $1.84 Trillion by year's end.
The Ecommerce Foundation, an independent non-profit with a mission to foster global digital trade, has released a report showing the global ecommerce market is continuing to grow at an astounding rate. According to the report, global ecommerce sales will reach $1.84 Trillion in 2017, up 17% from 2016.
Asia represents the fastest growing segment in the report, rising 20% year-over-year. Europe comes in at a close second, up 19% from 2016. In the United States, which is the world's most advanced ecommerce market, the growth rate in 2017 will reach 10%, according to the report.
“The data shows that we are far from a growth plateau in the global e-commerce market,” said Ecommerce Foundation research coordinator Sara Lone. “The rate of growth continues to increase, possibly due in large part to healthier economies, improvements to infrastructure and higher rates of cultural acceptance for e-commerce. As we evolve into a more connected world, with substantially more people accessing the Internet, we see new opportunities to create online shoppers, as well as increase the amount of goods/services online shoppers currently purchase.”
As the amount of goods and services online shoppers purchase continues to grow, so too does the opportunity for ecommerce merchants to expand their businesses. With international locations in Asia (Shanghai, China) and Europe (where Payscout is now a licensed Financial Institution), Payscout is uniquely positioned to help entrepreneurs leverage the growth of global ecommerce.