Global e-retail will grow 17.4% this year
June 28, 2013 02:56 PM
Global e-commerce spending will reach $963.0 billion next year, up 17.4% from $820.5 billion in 2012, according to the spring 2013 Siemer eCommerce Report. In 2012, e-commerce spending increased 20.6% from 2011. Through 2016, the firm says global e-commerce should have a 14.7% compound annual growth rate.
The financial advisory firm Siemer & Associates, which focuses on Internet and digital marketing businesses, defines e-commerce spending as money spent on any goods or services sold on the Internet, including travel bookings. The projection from Siemer compares with an estimate released this week by eMarketer that global online shoppers this year will spend $1.22 trillion in goods and services—including travel—up 17.1% from last year.
An increasing base of online shoppers will help drive the growth, Siemer says. In 2008, 4% of global consumers shopped online. In 2012, that grew to 6.5%. By 2016, Siemer predicts that 9.3% of consumers worldwide will engage in e-commerce.
Following is the report’s breakdown for select countries of the percentage of online shoppers out of all consumers in 2012, and as predicted for 2016:
- United States: 10.1%, 13.3%;
- Brazil: 3.4%, 4.5%;
- United Kingdom: 10.1%, 11.8%;
- Italy: 1.3%, 2.8%;
- Germany: 5.0%, 7.7%;
- France: 5.1%, 6.6%;
- Russia: 1.9%, 5.1%;
- China: 5.1%, 9.1%;
- Japan: 9.3%, 11.8%;
- Australia: 5.9%, 10.3%.
Within global e-commerce, mobile commerce represents the fastest-growing online sales channel, the report says. It will account for more than half of all online sales—56.2%—by 2016, Siemer says. In 2012, mobile commerce accounted for 20.9% of total global e-commerce sales, or $171.5 billion. The firm predicts mobile commerce will increase 259.7% from 2012 to 2016, when it will generate $617.0 billion.
The report also says:
- Daily-deal site operators, led by Groupon Inc. and LivingSocial Inc. (which claim 53% and 22% of the U.S. daily-deal market, respectively), will generate $5.5 billion in 2016, up 52.8% from $3.6 billion in 2012.
- Social e-commerce sales, or revenue generated directly through a social network like Facebook, will bring in about $35 billion in 2016, up 250% from $10 billion in 2012.
- Subscription services, which are still a nascent e-retail category, so far led by a few companies including streaming video provider Netflix Inc., raised $195.0 million in investment funding in 2012, up 81.1% from $107.7 million in funds raised in 2011.
Groupon is No. in the 2013 Internet Retailer Top 500 Guide. LivingSocial is No. 119 and Netflix is No. 9.