Despite consumer fears over privacy issues, eCommerce sales continue to grow, according to research by eMarketer.
Sales in the Asia Pacific region are predicted to grow 25% in 2019 to $2.27 trillion in spending representing 64.3% of global eCommerce expenditure.
Meanwhile, Latin America and Middle East/Africa are poised to grow by 21.3% whilst North America (+14.5%) and Western Europe (+10.2%) are showing signs of stalling growth.
Americans are forecast to spend $586.9 billion in retail eCommerce this year, driven by a 2.6% rise in digital buyers and 11.1% rise in average buyer spending online.
“The data suggests that the US eCommerce market is nearing a saturation point as it grows more in line with that of the total internet population,” said Andrew Lipsman, eMarketer principal analyst and lead analyst. “To keep growing at double-digit rates, future channel growth will increasingly rely on continued strong gains in the spending rate per buyer.”
The US market appears to be reaching a saturation point with more than 80% buyer penetration. Penetration among buyers aged 25 to 34 years are showing the highest saturation rates at 89.6%.
Younger and older buyers remain underrepresented when it comes to eCommerce. This is largely due to teens not having the disposable income to make online purchases and older generations preferring to shop in-store.
When it comes to individual shopping channels, Amazon Prime leads with user growth predicted at 8.6% to 121.2 million in the US this year. That means 65.5% of all digital buyers will be Amazon Prime shoppers. However, growth is declining overall.