The U.S. still leads e-commerce sales with an expected revenue of $349 billion in 2015. U.S. consumers also have the highest average order value (AOV) of $115 per purchase online. A new survey finds credit cards are used for 42% of transactions.
Austin-based RetailMeNot commissioned a study by the Centre for Retail Research which found the U.S. 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).
United States consumers AOV is 26% higher than 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.
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. Projected growth rates are as follows:
• Germany: 23% projected year-over-year e-commerce growth, and ranked second in sales among EU studies surveyed
• France: 17% projected year-over-year e-commerce growth, and ranked third in sales among EU studies surveyed
• United Kingdom: 16% projected year-over-year e-commerce growth, and ranked first in sales among EU studies surveyed
• Honorable mention goes to Poland, which despite a smaller base of sales expects a 21% projected year-over-year e-commerce increase among countries surveyed in Europe
• Bringing up the rear among all countries surveyed in Europe and North America, Canada represents the slowest e-commerce growth rate (13%)
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.
RetailMeNot experienced nearly 700 million visits to its websites, and during the three months ended December 31, 2014, monthly mobile unique visitors totaled 21.2 million. In 2014, RetailMeNot, Inc. estimates $4.4 billion in paid retailer sales were attributable to consumer traffic from digital offers in its marketplace.
A full version of the study is available at: rmn.com/crr15
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