Global e-commerce to increase by 17.5% in 2013
Global e-commerce sales are expected to jump 17.5 percent in 2013, reaching USD 963 billion, up from USD 820.5 billion in 2012, recent findings indicate.
According to a study by Siemer & Associates, a global boutique merchant bank that serves digital media, software and internet companies, online sales currently account for only 6.5 percent of all retail sales worldwide, but is growing four times faster than traditional retail. E-commerce sales are expected to amount to 9.3 percent of retail sales by 2016.
Research also finds that online commerce has been most disruptive to consumer electronics retailers. Results show that technology and audio/video electronic products as a percentage of total e-commerce revenue have risen to 24.5 percent in 2012 from 19.8 percent in 2007.
The same survey unveils that retailer Nordstrom has revealed plans to invest USD 1 billion, or one-third of its capital expenditures, into online efforts over the next five years. Walmart has developed a new computing platform which collects information from social media streams to determine which trending products they should feature in online marketing.