E-marketers around the global have some real good news coming this year as their looks jam packed with business activities. The B2C (Business to Consumer) segment of the e-commerce trade is looking upward as heavy growth rates are expected in the industry. Since the evolution of Internet, trade is possible in different forms and ecommerce is the most successful formats which is quick and profitable. The global industry under the business to consumer (B2C) segment is expected to be worth $1.5 trillion by the end of 2014. Experts from the business see this figure as a lower range as profits are set to race beyond for the section.
The global B2C ecommerce segment is predicted to grow as the emerging economies play a decisive role. The usage of smartphones and Internet users is creeping up big time in these countries. The graph of ecommerce business is speedily climbing in these countries and advance payment options, shipping facilities along with extensive push of brands from the international markets is penetrating the ecommerce business in these developing countries. Though for all these years, North America has been the leading spender on ecommerce business around the globe, 2014 is likely to change the trend as it is more likely to end up as the first year where the lead position will be taken by a new country. Asian countries like China, India, Malaysia and Indonesia are rated to be the front runners among the Asian group. The region is set to record a yearend business of $525.5 billion as compared to the North American number $482.6 billion, this is seen as a game changing occurrence for the B2C ecommerce business globally.
China is set to become the largest earner in the business as it is likely to earn more than 6 dollars of every 10 dollars spent in the business. As per market research, these earnings are projected to go up by three quarters of the total spending in the Asia-Pacific region by the end of 2017. Presently, the Chinese market is just next to the US ecommerce industry but it is seen as more potential market as it is expected to last longer. By the year 2016, China is forecasted to overtake US as the leader in the B2C global industry in terms of spending as well as profits. Neighboring countries such as India, Indonesia and Malaysia are contributing heavily to convert the Asia Pacific region as the global leader in the business to consumer segment of ecommerce trade.
Along with the Asian nations, there are several small or mid size growing economies which are expected to perform well in the business. These countries are Mexico, Brazil, Italy, Russia and others are achieving maturity levels in the business to emerge as future powers in the industry. The growth in E-commerce business especially the business to consumer (B2C) segment is driven due to massive population and the growing numbers of online buyers; these are many first time buyers who like the experience and repeat and habituate themselves to the online purchase style.
The Asian Pacific region will consist about 46% of the global digital buyers with a penetration of around 16.9% of the total population in the region. Going by the projection; this rate of penetration is sure to climb further as there will be future addition of online users.