Technologies, including internet connectivity, are driving unprecedented changes across all aspects of society. With more consumers shifting to digital platforms, companies must rethink where to deploy resources in order to compete in the digital era.
But which geographic markets offer the best opportunities for digital investment? Euromonitor International created the Digital Consumer Index to help organisations prioritise digital initiatives and make informed decisions.
2019 will mark the first time that half of population will be connected
For the first time a majority of the global population will be connected in 2019, which equates to four billion users. The highest levels of connectivity are found in the developed world, including regions such as North America and Western Europe. More than 80% of developed market consumers are connected.
The billion-people markets of China and India are expected to add the highest number of internet users in coming years. More than 100 million will come online from those two countries in 2019. To put this expansion into perspective, China and India will add more internet users over the next three years than currently exist in the US – the third-largest internet base.
Australia tops Digital Consumer Index due to mobile-first mindset
High levels of tech investment and consumer adoption of tools to execute digital commerce propelled Australia to the top spot in the Digital Consumer Index. Digital commerce in Australia has experienced double-digit growth rates in recent years as these consumers opt to browse and buy an extensive range of goods and services online.
Australians are digitally-savvy shoppers and are not only preferring to browse and research online, but also making their purchases digitally. The computer remains the preferred device for purchases, but its position is increasingly threatened by the portability and ease of use of mobile. In a quest for ultimate convenience, these consumers are shifting digital purchases to the on-the-go mobile device.
South Korea: A leader to watch in the forecast Digital Consumer Index
South Korea has some of the fastest and most extensive networks enabled by a competitive landscape, proactive regulations and robust infrastructure investments. That strong digital backbone is leading consumers to use more devices in commerce transactions, with South Korea posting one of the highest ratios globally when it comes to consumer payments made through a digital device.
Euromonitor’s Digital Consumer Index assists companies with identifying which geographic markets are the most digitally attractive by pinpointing a country’s relative digital standing with 5-year forecasts to help inform decisions.
To learn more about the top digital trends that will continue to influence how consumers browse and buy, watch our on-demand webinar, ‘Top 5 Digital Consumer Trends 2018’.