Aite Group estimates that cross-border e-commerce in Northern America will grow from US$53.6 billion in 2015 to US$122.6 billion in 2020.
Boston, December 6, 2016 - The digital commerce volume in Northern America is large and growing larger, but Aite Group finds that in 2015, digital commerce sales accounted for just 7% of total retail sales. However, digital commerce is expected to reach 11% of sales by the year 2020. Within the digital commerce realm, cross-border e-commerce is growing at a fast pace, with an average compound annual growth rate of 18%. As the global market has become increasingly open to trade and developments in the digital economy have created unprecedented opportunities for cross-border trade worldwide, there are expanding opportunities for cross-border e-commerce. The internet allows foreign sellers to establish global storefronts and enables consumers to act directly with them—in effect enabling the individualization and personalization of trade.
“Technology has expanded today’s consumer marketplace to a record degree and will continue to do so for the foreseeable future,” says Aite Group senior analyst Talie Baker.
Aite Group’s latest report, Digital Commerce in Northern America: Growth and Opportunities, sizes the digital commerce space in Northern America and identifies some of the trends that will guide its explosive growth for the next decade. It is based on Aite Group interviews with executives from 23 leading organizations—including digital commerce platform providers, payment service providers, and alternative payment schemes—over the three-month period from August to October 2016.
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About Aite Group:
Aite Group is a global research and advisory firm delivering comprehensive, actionable advice on business, technology, and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, insurance, wealth management, and the capital markets, we guide financial institutions, technology providers, and consulting firms worldwide. We partner with our clients, revealing their blind spots and delivering insights to make their businesses smarter and stronger. Visit us on the web and connect with us on Twitter and LinkedIn.