Global online shopping has become a billion-dollar industry. The Global Online Shopping Index scores 152 nations on various factors, including their postal services, secure internet servers, infrastructure, and percentage of the population with internet access and accounts. In 2018 the world surpassed $4 trillion in online sales. A country’s score improves as its internet infrastructure and postal services improve. In 2018, developing countries showed the most improvement in index scores, primarily led by improvements in postal reliability.
Angola
Internet access in Angola is low, and most of the population is not connected to the internet. Even with this low-tech infrastructure, the country offers enormous potential for eCommerce. While the market is small and lacks official data, it is still a promising prospect. However, a few limitations prevent e-commerce companies from making a profit in this market. The biggest is the lack of credit cards for online purchases. In Angola, only a tiny percentage of people have access to international credit cards. However, debit cards are becoming more common. In addition, cash on delivery is still the preferred method of payment.
In addition, Angola has a growing number of private sector-led business associations actively working to improve the business climate and promote cross-border trade. One such association is the West Angola Enterprise Network (WAENet). Founded in 1993, this association has more than 300 members from 12 countries. It has been an important vehicle to help promote the Angolan business community, and it plans to expand its services shortly.
The government has also taken steps to improve the business environment in Angola. Angola can diversify its economic base by improving trade relations with neighboring countries. For example, investing in new products or services can be significant. Its growing private sector can play a vital role in regional economic growth and development.
In Angola, it is possible to set up a representative office for your business. While this office is limited in size, it allows you to conduct market research and promote your business. It also allows you to import goods and rent office space. However, you are prohibited from engaging in production activities unless you are a resident.
UAE
The UAE is one of the fastest-growing markets for eCommerce services. Its booming e-commerce industry is attracting major e-commerce players from all over the world. One of the main reasons for this growth is the country’s business-friendly laws. Another critical factor is the country’s low cost of doing business.
The UAE has a growing population and high demand for eCommerce services. More eCommerce companies are leveraging their online presence as more people connect to the internet through mobile devices. Setting up an eCommerce business in the UAE can be a complex process, but the UAE has made the process easier for entrepreneurs. Business setup consultants are available for those looking to set up their eCommerce company in the UAE.
The UAE’s high internet and smartphone penetration have driven the e-commerce market’s growth. Despite its history as a cash-centric society, UAE consumers have begun to embrace digital payment options, including smartphones. The country’s high internet penetration rates, growing incomes, and presence of global players have all contributed to the country’s rapid e-commerce growth in recent years.
Several eCommerce service providers, including the renowned Noon, are available in the UAE. Noon, a UAE-based eCommerce giant, has expanded its regional presence and is quickly becoming the country’s leading eCommerce platform. The company offers an extensive selection of products, from on-demand items to fashion and beauty services.
The UAE is a cosmopolitan country with a diverse population. The median age is 30 years, and more than half of the population is below 24. There is also a large immigrant population, with about 50% of the population being South Asian. Emiratis make up only 20 percent of the people.
South Korea
South Korea is one of the largest markets in the world for eCommerce services. The country’s population is over ninety percent online, according to GlobalData’s E-Commerce Analytics. South Korea’s top e-commerce segments include fashion, travel, and electronics. The country is also one of the world’s most technologically advanced and business-friendly economies.
Quick delivery is one of the most effective ways to attract more customers to your online store. The country’s eCommerce website Coupang has invested US$ 1.3 billion in a logistics infrastructure that allows it to ship products on the same day. It also has a “rocket delivery” system that can get orders to customers in less than two days.
In South Korea, eCommerce companies should be ready to adapt to the country’s unique nuances. Its mobile-centric society means it’s essential to have suitable payment options. It’s also necessary to learn the preferences of local customers. For example, many South Koreans prefer to use their smartphones for shopping and entertainment. And since they’re so connected, they’re more likely to trust a local brand than an international one.
South Korea ranks sixth in the world regarding smartphone penetration, with a penetration rate of 77.7%. Official statistics estimate the number of smartphone users to be at least 47 million. Local companies dominate the country’s search engine market. Naver, Daum, and Google each have more than ten percent market share.
The country’s most advanced digital infrastructure makes it an ideal place for an eCommerce business. Coupang is one of the largest online retailers in the country, with annual revenues of USD six billion. Its highly developed distribution network means that customers can expect their orders to arrive the same day or the next day. It employs 37,000 people and is aiming for an IPO in 2021.
China
If you’re considering launching an eCommerce service, China might be the best place to start. The country has a large internet population and a robust logistics network, making it the ideal place to launch an eCommerce service. Over 800 million people have access to the internet, which is more than the combined population of the US, Europe, and Japan. Furthermore, China’s mobile penetration is incredibly high, with over 81% of the people using mobile payment systems. In comparison, only 27% of internet users in the US use mobile payments. And many European countries are not even close to this level of adoption.
Social media is also becoming an integral part of eCommerce services in China. More than 30% of Chinese consumers now use social media to purchase. These platforms have become indispensable for marketing, with retailers showcasing their online stores and using push messages. If you’re looking to launch an eCommerce service in China, you should consider hiring a local partner who can help you reach the Chinese consumer market.
The Chinese population is the largest in the world, and its online market is growing at a breakneck pace. There are more Internet users in China than in any other country. By 2024, internet users will reach 75% of the population. As a result, the Chinese eCommerce market is expected to reach USD 15 trillion.
Ecommerce services are widely available in China, and many consumers have access to smartphones. As a result, Chinese consumers can easily find products and compare prices online. Cost comparison has been one of the key factors driving Chinese consumers to use eCommerce platforms. Ecommerce services in China also allow consumers to receive products faster than in other parts of the world. In addition, Chinese e-commerce platforms are increasingly user-friendly and are embracing digital payment methods.
Mauritius
Mauritius is a good choice if you’re looking for a country that offers a high degree of internet penetration and an easy online shopping experience. The government has taken a few steps to promote online businesses in Mauritius, and a new fiber-broadband network should increase internet penetration and expand the customer base. In addition, new online payment solutions have boosted the eCommerce industry. The introduction of MCB MasterCard debit cards in February 2016 has increased the availability of eCommerce services in Mauritius.
According to UNCTAD’s 2018 Business-to-Consumer E-commerce Index, Mauritius ranks 55th out of 152 countries. The index measures how healthy countries are prepared for e-commerce, including access to secure internet servers, postal services, and infrastructure. However, there are still challenges in advancing eCommerce in Mauritius. Poor internet connectivity and infrastructure are significant challenges.
The banking sector is also well-developed, with online banking services offered by almost every bank. Some local authorities have also gone online, including the Revenue Authority, which provides customs transactions online. Companies can also file documents online and pay various fees. The Mauritius Revenue Authority also offers online incorporation and online filing of documents.
Mauritius and China are working on a free trade agreement (FTA) covering over forty service sectors. This agreement will allow Mauritius nationals to open businesses in China and set up joint ventures with Chinese operators. The two sides have committed zero tariffs on over 93.3 percent of their traded items, which account for 92.8 percent of Mauritius’ import volume. The FTA has been in the works for the past three years and will likely be part of the government’s three-year development plan.
According to the Business-to-Consumer eCommerce Index, Mauritius retains its top spot in the region. The other leading countries in the continent are the Netherlands, Switzerland, and Singapore.
