- Danielle Wightman-Stone |
Indonesia, Mexico and the Philippines are the most in-demand markets as the fastest rising e-commerce countries, according to new research by card and account comparison service Merchant Machine.
The e-commerce market grows larger every year with the help of technological advancements, and this new research reveals that Indonesia with an online population of more than 103 million people has topped the ranking for the country with the fastest growing e-commerce industry.
The data reveals that Indonesia recorded growth of 78 percent, with travel and clothing being the dominant sectors for spending, with 17.7 percent and 11.9 percent, respectively, and that the average online spend is 228 US dollars.
For years Mexico has been seen as a burgeoning powerhouse in the online sphere and with 16.22 billion US dollars in e-commerce spending and with its 59 percent overall growth, the research ranks the country in second place noting its “continuing remarkable growth”. Mexicans spend on average 819 US dollars, mainly on travel, electrical goods and clothing.
Philippines, the second of three Southeast Asian countries in the top 10, came third with overall growth of 51 percent helped by growth across their consumer electronics and clothes retail sectors, with consumers spending on average 53 US dollars online.
Other notable countries that have found themselves in this year's top 10 are South America’s Colombia, as well as the UAE, Vietnam, Saudi Arabia, Israel, India and China.
Clothing was reported as a major sector for e-commerce growth, with the clothing and footwear market making the top 2 sectors for all 10 countries.