UTRECHT - Online retailers, banks and intermediaries devise creative payment methods to support B2C ecommerce growth
B2C ecommerce in Mexico, which relies heavily on travel purchases, took a big hit in 2009 with the economic downturn and the swine-flu outbreak. Since then, however, travel spending has rebounded, and B2C ecommerce has posted robust double-digit growth rates in each of the past three years. eMarketer estimates B2C ecommerce will register a 20.7% compound annual growth rate (CAGR) over the entire 2010–2015 period.
While B2C ecommerce revenues are projected to increase steadily in the forecast period, some challenges lie ahead. Two hurdles preventing even greater growth of B2C ecommerce sales in Mexico are an underdeveloped internet ecosystem and a low credit card penetration rate.
According to the International Telecommunication Union (ITU), in 2010, Mexico ranked 75th among 152 countries in the 2011 Internet and Communication Technology Development Index. ITU defines this index as a composite combining “11 indicators into one benchmark measure that serves to monitor and compare developments in information and communication technology across countries.”
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