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The 5 Countries Where E-Commerce Growth is Surging
Whoever coined the acronym ‘BRIC,’ which refers to the emerging markets of Brazil, Russia, India and China, was on to something. Three of the BRIC countries – China, India and Russia – were listed among the countries with the highest e-commerce growth in 2013. China, led by e-commerce giant Alibaba, topped the list with 79 percent sales growth in 2013 while Indonesia was a close second at 71 percent. Mexico e-commerce grew 42 percent last year while in India, whose consumers shop mainly from their mobile phones, e-commerce increased 35 percent. In Indonesia, a country that has the fourth-largest population worldwide, e-commerce grew 22 percent in 2013 while Russian e-commerce grew 19 percent.
Alibaba Leads Chinese E-Commerce
Anyone perusing the business section of newspapers and online news websites recently has seen the impact Chinese e-commerce giant Alibaba is having – not just on Chinese consumers, but consumers worldwide. It is estimated China will surpass the US in e-commerce transactions within the next two years.
Why E-Commerce is Growing?
For India, Russia, Mexico and Indonesia, e-commerce growth comes down to two words: Internet usage.
India is unique. Access to the internet has grown dramatically over the last three years, not because many citizens of India have desktops and/or iPads. In fact, many citizens don’t even have bank accounts or credit cards. What they do have, however, are mobile phones. And the preferred payment method? Cash on delivery.
Internet usage has also grown dramatically in Russia, a country where its citizens are hesitant to adapt to online payments for fear of being hacked. Nearly 75 percent of all transactions on Ozon (Russia’s version of Amazon) are paid for with cash on delivery. Moreover, of the 50 million internet users in Russia, only 10 million are online shoppers – a figure that has nowhere to go but up.
Mexico has a population of 120 million. It is estimated that only 46 million citizens get online regularly, which, similar to Russia, illustrates plenty of room for growth.
Indonesia is expecting to add 20 million more internet users by 2015. Online shopping with smartphones is the trend du jour as, ironically, millions of Indonesian commuters shop in their cars while in traffic.
E-Commerce Merchant Accounts
Instabill, located in Portsmouth, N.H., USA, has provided credit card processing for online businesses since the e-commerce boom. Our merchant account managers not only help businesses get started; they serve as consultants for the life of the merchant account. Instabill merchant account managers are on hand Monday through Friday from 8:00 a.m. until 6:00 p.m. eastern time. Speak one-on-one at 1-800-318-2713 or select the button below to chat live.
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ECS World provides credit card processing services to online and MOTO businesses with its PCI compliant payment gateway solution. Whether you want to process onshore, offshore, or internationally, they have a solution for you!