The country also appears to be adopting the shift to mobile at a faster rate than other countries
April 1,2015: The United States continues to lead e-commerce among the most Internet-friendly markets surveyed in North America and Europe, according to an international study commissioned by RetailMeNot, the world’s largest marketplace for digital offers. The study, carried out by the Centre for Retail Research, reveals that despite having a smaller population than the eight combined European countries surveyed and one of the smallest projected year-over-year growth rates, the United States still leads e-commerce sales with an expected revenue of $349 billion (compared to $254 billion in projected sales in surveyed European countries).
United States consumers also have the highest average order value (AOV) of $115 per purchase online, a 26% increase over all eight countries surveyed in Europe ($85); 21% greater than consumers in Sweden ($91); 22% greater than consumers in the United Kingdom ($90); and 15% greater than the average Canadian purchase ($98). That growth in online sales, across the 10 countries surveyed, is largely being driven by consumers’ collective adoption of mobile commerce.
The country also appears to be adopting the shift to mobile at a faster rate than other countries surveyed. Mobile commerce is projected to represent 27% of total e-commerce sales in the United States ($93.6 billion) in 2015 versus 20% of e-commerce in the eight countries surveyed in Europe ($61.5 billion).
“New generations of smartphones are changing the game in mobile commerce. Consumers in North America and Europe are growing increasingly comfortable transacting over these devices, thanks to increased connection speeds and bigger screens that make anywhere, anytime shopping effortless,” said Josh Harding, vice president of global operations at RetailMeNot. “As the United States continues to lead e-commerce growth, and mobile commerce maintains its momentum, retailers globally should reevaluate the prioritisation of impending technology investments to ensure that they have an optimized mobile experience and fully capture this meaningful revenue opportunity.”
The International Opportunity for Retailers
Outside the United States, where e-commerce sales are projected to grow by 14% in 2015, other markets in North America and Europe continue to be attractive for retailers interested in a bigger international base of customers.
In particular, Germany, France and the United Kingdom combined represent 82% of all e-commerce sales among the eight countries surveyed in Europe.
Credit Cards, Online Payments Enable Sales
In a world where credit card adoption and online payments have fueled the e-commerce opportunity, Canada does hold one distinction: it leads the United States and other countries surveyed with online purchases made via credit cards. Credit cards are used for 64% of transactions versus 42% in the United States. Alternative online payment methods, such as PayPal, seem most dominant in the United Kingdom and Poland, where they make up 20% of online payments.