The North American B2C e-commerce market’s turnover continued to grow by double digits in 2014. However, at a turnover growth of 12.2%, North America was still the slowest growing region in the world, as a result of which the gap with Asia-Pacific and Europe increased. For 2015, the growth rate of the North American online sales is expected to increase a little to 12.6%, but this will not be enough to catch up with the other two main B2C e-commerce regions.
In 2014, the North American B2C e-commerce turnover surpassed the mark of $ 500.0bn and eventually amounted to $ 522.9bn. In comparison, the online sales of the Asian-Pacific market reached $ 770.0bn and those of Europe $ 562.0bn. Within North America, the United States of America was clearly the most important e-commerce market as its online sales amounted to $ 482.7bn last year, which represents more than 87% of the total North American B2C e-commerce turnover. With $ 27.8bn, Canada is the second-largest B2C e-commerce market, followed by Mexico with $ 12.4bn.
Mexican e-commerce on the rise
Naturally, it is not really a surprise that Mexico is the smallest B2C e-commerce market of the three countries mentioned. Economically speaking, Mexico is significantly lagging behind the US and Canada, which is clearly shown by the Gross Domestic Product (GDP) per capita of $ 10,361, versus $ 50,271 for Canada and $ 54,629 for the US.
Even though the Internet penetration is relatively low in Mexico, with only 44% of the population being connected to the Internet, the importance of e-commerce is growing tremendously. This is evidenced by the share of e-commerce in the total GDP of the country. In 2014, this so-called eGDP nearly reached 1.00%, which represents a growth of more than 400% compared to 2009.
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