In 2015, e-commerce in Ukraine began to transform. The summer that year, the Ukrainian government worked with the Central Bank to implement a series of measures designed to liberalize and regulate e-commerce, both within the country and across borders.
France is now the 5th largest e-commerce market worldwide. According to 2016 figures, France soared past Germany, knocking that country out of the top 5 in online sales volumes and becoming the 2nd biggest market in Europe (behind only the UK).
Europe's largest e-commerce market, the UK is a major power in the global digital economy. 82% of Britain's internet users regularly make e-commerce purchases, a larger proportion than any other country in the European Union.
E-commerce is alive and well in Latin America. It is the region with the second fastest growing e-commerce sector globally, behind only Asia-Pacific, with a developed digital economy despite relatively low internet and credit card penetration, and a large unbanked population.
Today, the largest e-commerce market in Latin America is Brazil, but when it comes to long-term investment for cross-border merchants, Mexico is the market to beat. Though cross-border commerce is low compared to Brazil, Mexico's e-commerce market is growing at a rate of over 21%, nearly double the global average.
Despite Brazil's recent economic downturn, the country's e-commerce market continues to grow. Though not immune to the effects of the economy, Brazil's 2016 e-commerce market was still the largest in Latin America and since 2014 has been one of the top-10 e-commerce markets in the world.
Country Spotlight Country Spotlight: Understanding Consumers and Cross-Border E-Commerce in Bangladesh
After the five BRICS countries, economist Jim O'Neill identified a second group of eleven countries with a high potential of becoming among the world's largest economies in the 21st century. One of these "Next Eleven" is Bangladesh, a South Asian country of 161 million people.
Russia, the world’s biggest country and among the 10 most populous, is unique. Though it has always had a relatively mature payments infrastructure compared to other global powers, internet penetration developed much more slowly than in most other developed nations.
Canada is like a blue chip stock. Even though it’s the world’s second largest country, Canada is sparsely populated and its e-commerce market is still relatively small at just over USD 22 billion. Nonetheless, with a stable and affluent population, the Canadian market offers a solid, low-risk, long-term investment.
Country SpotlightIndustry Trends Country Spotlight: Understanding Consumers and Cross-Border E-Commerce in China
One day in China’s e-commerce market is bigger than a year in Brazil’s. That’s as of November 11th, also known as Singles’ Day, which this year was the most successful 24-hour online shopping sale of all time, racking up $17.8 billion in total sales.