Which nation will lead ecommerce deployments?
In the past several years, ecommerce has become a more significant and imperative aspect of myriad industries, including retail, payment processing, banking and beyond. Those organizations that have balked on embracing this technology are likely already experiencing several competitive disadvantages, even if they are not apparent in the annual financial analyses completed that compare one year's performance to another.
Now, it appears as though nations are getting a bit more competitive in this arena, with certain governments trying to stimulate more ecommerce activity in the private sector in hopes of boosting gross domestic product. Although the United States has been a leader in this category since the outset of the platforms, it is losing ground to some of its premier competitors on the global stage, namely China.
Middle Kingdom, high results
Reuters recently reported that China's State Council released a statement regarding increased backing of ecommerce retailers, appearing to be a direct result of the nation's latest economic hardships. According to the news provider, it makes sense that the government there is becoming a bit more focused on building solid ecommerce performances, as it has long depended on foreign trade to get by, but is ready to now enjoy improved economic performances throughout its own consumer landscape.
The source pointed out that China has an annual online shopping day similar to Cyber Monday in the United States, when consumers flock to websites to make purchases on good deals from ecommerce retailers. This year, Singles' Day took place on Nov. 11, and consumers purchased more than $9.3 billion of items and services in the digital arena, Reuters noted.
With one of the biggest economies in the world, one can only assume that China, as well as other nations with such massive populations, will continue to gain ground on Western counterparts in the ecommerce arena before long.
A good balance
Now, just because other nations are enjoying stronger performances in the ecommerce sales segment does not mean that the trend is passing in the United States. Rather, the opportunities to be even more financially successful will only go up as more nations become globalized in the economic sense, allowing domestic retailers to break into new markets through the use of digital commerce platforms.
By focusing efforts on the establishment and optimization of ecommerce capabilities, the sky is the limit for sales increases going into the new year, regardless of which nation the business is operating within.
