E-commerce is growing year-over-year with a rate of 16% in Europe, while in the markets covered by this report, the average is 33% a year. So, in this report, PPRO studied 13 of the highest-growth markets in terms of the recent economic performance, the state of the online marketplace, the drivers for e-commerce growth, and local payment preferences.

Let’s take a sneak peek at these countries ranked in descending order:

#10. Argentina

• Online population in Argentina: 30,131,628.
• Internet penetration in Argentina: 69.4%
• Smartphone penetration in Argentina: 49.3%.
• B2C e-commerce in Argentina: $6.97 billion with an average online spend $318.
• B2C e-commerce growth in Argentina equals 25%.
• Top e-commerce segments are airlines & hotels (25%), electrical goods (11%) and homeware (10%).
• 44 % in Argentina use cards and 44% use cash with 47 % use Visa and 26.6% use a Credit card.
• E-commerce completed on a mobile device equals 21%.

#9.1 Malaysia

• Online population in Malaysia: 21,553,214.
• Internet penetration in Malaysia: 71.1%.
• Smartphone penetration in Malaysia: 64.1%.
• B2C e-commerce in Malaysia: $1.78 billion with an average online spend $127.
• B2C e-commerce growth in Malaysia equals 26%.
• Top e-commerce segments are airlines & hotels (17.9%), clothing & footwear (11.5%) and food & drink (10.5%).
• 39 % in Malaysia use bank transfer, 33% use cards and 13% use cash with 42 % use Visa and 20.2% use a credit card.
• E-commerce completed on a mobile device equals 45%.

#9.2 Singapore

• Online population in Singapore: 4,544,237.
• Internet penetration in Singapore: 82.1%.
• Smartphone penetration in Singapore: 82%.
• B2C e-commerce in Singapore: $3.94 billion with an average online spend $1,022.
• B2C e-commerce growth in Singapore equals 26%.
• Top e-commerce segments are airlines & hotels (17.3%), clothing & footwear (10.3%) and food & drink (10.2%).
• 79% in Singapore use cards with 25% use Visa and 35.4% use a credit card.
• E-commerce completed on a mobile device equals 26%.

#8.1 China

• Online population in China: 689,723,660.
• Internet penetration in China: 50.3%.
• Smartphone penetration in China: 51.7%.
• B2C e-commerce in China: $865 billion with an average online spend $1,800.
• B2C e-commerce growth in China equals 27%.
• Top e-commerce segments are clothing & footwear (13.2%), airlines & hotels (12.3%), and food & drink (12.1%).
• 25 % in China use cards with 96 % use local schemes and 15.8% use a credit card.
• E-commerce completed on a mobile device equals 20%.

#8.2 India

• Online population in India: 456,245,583.
• Internet penetration in India: 34.8%.
• Smartphone penetration in India: 29.8%.
• B2C e-commerce in India: $30.98 billion with an average online spend $265.
• B2C e-commerce growth in India equals 27%.
• Top e-commerce segments are airlines & hotels (14.9%), clothing & footwear (10.3%) and food & drink (9.3%).
• 32 % in India use cards and 21% use cash with 46% use Visa and only 4.2% use a credit card.
• E-commerce completed on a mobile device equals 35%.

#7 Israel

• Online population in Israel: 6,482,182.
• Internet penetration in Israel: 77.4%.
• Smartphone penetration in Israel: 74%.
• B2C e-commerce in Israel: $3.60 billion with an average online spend $1,361.
• B2C e-commerce growth in Israel equals 31%.
• Top e-commerce segments are airlines & hotels (20%), clothing & footwear (10%) and information technology (7%).
• 80 % in Israel use cards and 17% use E-wallet with 41% use Visa and only 76.2% use a credit card.
• E-commerce completed on a mobile device equals 14%.

#6.1 Saudi Arabia

• Online population in Saudi Arabia: 21,957,219.
• Internet penetration in Saudi Arabia: 77.4%.
• Smartphone penetration in Saudi Arabia: 74%.
• B2C e-commerce in Saudi Arabia: $4.50 billion with an average online spend $625.
• B2C e-commerce growth in Saudi Arabia equals 32%.
• Top e-commerce segments are airlines & hotels, clothing & footwear and information technology.
• 34 % in Saudi Arabia use cards and 66% use cash with 34% use Visa and only 11.5% use a credit card.

#6.2 Vietnam

• Online population in Vietnam: 48,351,252.
• Internet penetration in Vietnam: 52.7%.
• Smartphone penetration in Vietnam: 61.7%.
• B2C e-commerce in Vietnam: $2.60 billion with an average online spend $625.
• B2C e-commerce growth in Vietnam equals 32%.
• Top e-commerce segments are airlines & hotels, consumer electric and furniture & appliances.
• 51% use cash with 91% use local schemes and only 1.9% use a credit card.
• E-commerce completed on a mobile device equals 28%.

#5 United Arab Emirates

• Online population in UAE: 8,355,125.
• Internet penetration in UAE: 91.2%.
• Smartphone penetration in UAE: 91%.
• B2C e-commerce in UAE: $5.10 billion with an average online spend $1,380.
• B2C e-commerce growth in UAE equals 33%.
• Top e-commerce segments are airlines & hotels (13.7%), clothing & footwear (11.4%) and food & drink (9.2%).
• 30 % in UAE use cards and 19% use cash and 18% use E-wallet with 65% use Visa and 37.4% use a credit card.
• E-commerce completed on a mobile device in UAE equals 25%.

#4 Colombia

• Online population in Colombia: 26,962,244.
• Internet penetration in Colombia: 55.9%.
• Smartphone penetration in Colombia: 58%.
• B2C e-commerce in Colombia: $5.20 billion with an average online spend $500.
• B2C e-commerce growth in Colombia equals 45%.
• Top e-commerce segments are clothing & footwear, airlines & hotels and electrical goods.
• 54 % in Colombia use cards with 38 % use Visa and 13.7% use a credit card.
• E-commerce completed on a mobile device in Colombia equals 27%.

#3 Philippines

• Online population in Philippines: 52,967,882.
• Internet penetration in Philippines: 52.6%.
• Smartphone penetration in Philippines: 40%.
• B2C e-commerce in the Philippines: $1.60 billion with an average online spend $53.33.
• B2C e-commerce growth in the Philippines equals 51%.
• Top e-commerce segments are consumer electric, clothing & footwear and furniture & appliances.
• 65 % in Philippines use cash with 19% use MasterCard, 17% use Visa and just 3.2% use a credit card.
• E-commerce completed on a mobile device in Philippines equals 30%.

A Graph Shows the Payment Methods and Card Scheme Breakdown in UAE – 2018