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Online Consumer Payments: Sizing the Opportunity

Online Consumer Payments: Sizing the Opportunity

  • March 2017
  • 33 pages
  • ID: 3375869
  • Format: PDF
  • By GlobalData

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Online Consumer Payments: Sizing the Opportunity

Summary

This report examines the online consumer payments market in 28 global markets, considering the overall market size and its development, as well as the importance of mobile devices as opposed to desktop and laptop computers. The report also breaks down the online market by the type of goods consumers buy and the tools they choose to pay with, considering how consumer buying behavior has changed and the drivers of this change.

Online consumer payments remain the biggest growth market in payments, and will continue growing strongly as more consumers gain access to the internet and to tools that can be used online. Developing countries - particularly China - are expected to be at the forefront of this growth, although even the most developed online commerce markets will grow strongly over the next five years.

- Sizes the online consumer payments market in 28 countries.
- Analyzes the breakdown of online commerce by channel in all 28 markets.
- Identifies the major barriers to consumer engagement with the online channel and how to overcome these
- Considers consumer spending patterns on goods and services online and how these have changed in recent years.
- Explores the online payment market by payment tool and assesses the position of traditional payment tools such as cards against alternative tools in key geographic markets.
- Provides key strategic recommendations for merchants and payment providers based on the prevailing trends in the online payments market.

Scope
- China overtook the US as the world’s largest online commerce market in 2015, with Chinese consumers spending a total of $699bn online that year.
- 20% of the total value of online commerce transactions across all markets will be accounted for by m-commerce by 2020, with the market recording a compound annual growth rate of 17% from 2015 to 2020.
- Consumer spending patterns online have shifted over the past three years to a wider range of merchant categories. The market is no longer dominated by high-ticket goods categories to the same extent it has historically been.

Reasons to buy
- Understand the key facts and figures in the global online consumer payments market.
- Learn how much of online consumer spending is done through mobile devices and how the composition of the market is likely to change in the future.
- Find out what is keeping consumers from using the online channel and how to boost consumer engagement.
- Discover key consumer spending dynamics online in terms of goods purchased and payment tools used.

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