Comparing the consumer giants produces interesting information about the e-commerce industry
A look into the European and US online markets has revealed that there is, overall, very good news for online retailers in both Europe and the US in that, in both, the numbers are rising and with new innovations in mobile and tablet technology, the growth rate is expected to continue.
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The reasons for the rise in online shopping has to do with three main factors
- Online shopping can be done form anywhere, whenever, which is convenient for obvious time saving reasons.
- Because the e-commerce industry is growing, and more goods and services are becoming available via the internet, people are taking advantage of the fact that their consumer need are being met in the online space.
- With the Payment industry constantly working at meeting the needs of merchants and end users alike, online payment is becoming easier and more user-friendly. Top credit card brands namely Visa, MasterCard and China UnionPay as well alternative payment methods like e-wallets are assisting the growth of e-commerce worldwide and particularly in Europe and the US.
Studies have shown that Europe is beating the United States of America when it comes to the public’s online purchasing habits and spending appetites. However, it is also important to acknowledge that Europe is a continent, consisting of 47 countries while the United States is a single country.
While Europe’s overall spend exceeds that of the US at $302 billion in 2012 with US numbers reaching $225 billion, each individual American citizen is, in fact, spending more money than the average European. The numbers are $715 per person in 2012 compared to $408 per person in Europe.