As it seems with most trends these days, the U.S. market for e-commerce will be big but China’s will be bigger.
If the European Commission can create a “digital single market,” our cousins across the Atlantic could give us a run on online spending, considering their love of smartphones makes America’s own addiction seem downright healthy. And the growth of online retailing in Australia is sending shudders through the bricks-and-mortar sector, as a new study shows the country will lose 118,000 jobs over the next three years because of the trends.
The opportunity is largest in China, largely because of government investment in high-speed Internet access and the inefficiency of traditional retailers, according to the Economist. There are roughly 145 million Chinese e-commerce buyers and another 30 million shoppers will join them each year, according to a Boston Consulting Group study.
The shift in online shopping means that retailers, particularly those in Europe, are going to be scrambling to catch up with the likes of Amazon.com and Staples. Many will find that running a “multi-channel” supply chains is best outsourced, while others will sit idly by and watch their stores become showrooms for online retailers.
Shippers looking for some insight into how to get into the online game, or hopefully, expand their current offerings, would be wise to check out white papers provided by Jones Lang LaSalle, Excel and Saddle Creek.