North America stands out as a global leader in digital commerce. With some of the market’s top players located in the region, innovation continues to spur growth in remote, proximity, and voice purchasing. Government legislation in both the US and Canada works to ensure the security of digital commerce in the region. In the future, North America will remain at near the top of international digital commerce rankings, as it makes strides in connected commerce and digital connectivity.
Both the US and Canada rank among the top-tier countries in terms of digital commerce and connectivity. The ubiquitous nature of mobile phones in North America has allowed faster development of the proximity and remote payment markets to stimulate digital commerce to see year-on-year growth of 12% in 2018. Digital commerce pervades North American society, where it is now commonplace to purchase everything, from weekly groceries to a new car, digitally.
Retailing leads digital commerce, with a high adoption rate of technological innovations such as remote payments in both the US and Canada. As North American consumers increasingly shift towards online shopping, bricks and mortar stores have started to challenge their business models, and venture into a more diversified portfolio aiming to become a 1-stop shop for their consumer base.
North American consumers increasingly browse products and services through their mobile devices, incentivised by seamless checkout experiences and added transaction security. Digital wallets reduce the friction associated with checkout experiences for both remote and proximity payments. The growth of mobile connectivity is expected to continue this momentum as the smartphone has become the primary connected device in many households.
Forecasts show that North American digital commerce will continue growing with a CAGR of more than 10% over 2018-2023. North America will maintain the second-highest digital commerce index score globally, behind Australasia, with the US surpassing Australasia in connected commerce.
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