Market research firm International Data Corporation (IDC) has projected that global e-commerce sales for physical goods, like clothes and consumer electronics, will grow 18 percent annually on average from 2012 to 2017, outpacing U.S. growth of 7 percent in the retail industry.
According to Michael DeSimone, CEO of international e-commerce strategy firm Borderfree, U.S. retailers have been slow to capitalize on the overseas e-commerce market and he estimates that over a third of U.S. retailers are failing to tap that market. Russia and Australia are two attractive markets, alongside the Middle East, according to Borderfree.
Mobile technology will also puch e-commerce sales according to DeSimone. “Mobile commerce might be one of the largest factors for e-commerce growth,” said DeSimone, highlighting Indian, Chinese and Brazilian consumers who may lack traditional terminals. “They have a relationship with a mobile carrier who has to get paid, and that increasingly gives them the power to buy online,” even if they lack credit cards, he said. To read more, click HERE.