Dec 182014
 

world's largest e-commerce market

Asia is set to surpass North America to become the world’s largest e-commerce market this year, according to the Economist Intelligence Unit (EIU).

According to a report in Beijing by the EIU, an advisory company under the Economist magazine group, it is estimated that retail sales in Asia will grow by an average 4.6 per cent on a volume basis to $7.6 trillion, compared with 2.5 per cent in North America and 0.8 per cent in Europe in 2015.

Report editor Laurel West said the Asian consumer market was largely driven by the rising independence and economic power of Asia’s women, and female consumers in Asia are showing an unprecedented enthusiasm for online shopping, the state-run Xinhua news agency reported.


Contributed By Sonia Narula

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