Technological advances are forever altering the way that consumers all around the world browse and buy all types of products and services. Learn how this increased connectivity is underpinning a commerce revolution and discover new markets to explore based on the consumers and industries propelling this digital storyline forward in each respective market.
The world is more connected than ever before. An estimated 43.9% of the population uses the internet as of 2016. This rapid uptake of digital services has underpinned generational shifts in how consumers browse and buy all types of products and services.
While the computer remains the dominant device when executing commerce, the mobile phone is quickly grabbing device share. For example, Chinese consumers spent more through mobile devices for the first time in 2015. Consumers in the UK and the US are expected to cross that threshold by 2020.
Remote mobile payments are currently the biggest slice of the mobile purchase pie, but they have a growing complement in the form of proximity payments. For many in the commerce space, the next frontier for commerce is the proximity environment given the potential to bridge the digital and physical environments for a more enhanced commerce experience.
As compared with other industries, foodservice is just gaining its digital footing. On the other hand, online bookings have been a well-established channel for many years in the travel industry. Of course, the retailing industry should not be ignored either due the industry's size and how mobile is fundamentally shaping the way consumers shop in store and on the go for goods.
Markets such as China, India, the UK and the US are undoubtedly important markets to watch due to the sheer size of the consumer market and pace of digital development. However, there are also lesser-known markets such as Canada, Indonesia, Mexico, Poland and the United Arab Emirates that companies should not overlook when exploring promising digital commerce opportunities.
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