World's Largest Online Spenders Identified

Our proper research and review result in funding for readers through affiliate commissions at no extra cost to them. The cybersphere has evolved from being only an information center into a virtual mall since the invention of the internet. Although the internet continues to be a useful resource, its applications have greatly expanded over time. Social networks have made the world infinitely more connected, and every day, trillions of dollars are traded digitally.

Did Sir Tim Berners Lee ever envision the World Wide Web having as many applications as it does? Did he consider the enormous sum of money that (figuratively) flows through the countless kilometers of fiber optic cables that power the internet?

Online money transfers are no longer just for sophisticated financial operations carried out by dealers and investors. Everyone who has access to it may now send money soaring through cyberspace (and does so quite frequently!). Consumers in Generation X are driving the internet buying trend (born 1966-1981). This runs counter to the widespread perception that the tech-savvy Millennial generation (born between 1982 and 2001) is responsible for the explosive expansion of e-commerce.

Actually, Generation X consumers spend 20% more online on digital items than do their younger colleagues. The Baby Boomer generation (born 1946–1965) is just now realizing the convenience of online purchasing, while the Millenial generation has grown up with it. This indicates that e-commerce spending will only increase going forward.

But how much money do people really spend online? Global e-commerce revenues are predicted to reach a staggering $4.5 trillion by 2021. Accordingly, the $2.2 trillion in revenues from 2017 will have virtually doubled in just three years. Now that you are aware of the global statistics, let’s look further to determine which nation has the highest online spending propensity.

Which countries spend the most money in the online market?

                  Country   Ecommerce Spend Per Capita

  • In the United Kingdom $4,201
  • The United States $3,428
  • South Korea $2,591
  • France $1,946
  • China $1,855
  • Australia $1,764
  • Canada $1,746
  • Japan $1,488
  • Israel $1,361
  • Germany $1,283

Brits are the top internet spenders in terms of pure money, with an average of $4,021 spent each year. Surprisingly, this exceeds that of China, a well-known eCommerce powerhouse. When we compared these numbers to the average pay of each study nation, we discovered more interesting information. This allowed us to determine which nation’s residents spent the most of their income online.

This is an area where China’s reputation in e-commerce precedes it. Despite not being the most expensive nation overall, they spend more of their income online than any other nation on the globe. They spend over a fifth of their income online rather than in the real world.

While the UK spends the most all at once, more than twice as much as China, the Chinese spend 19.34% of their salary online, almost twice as much as the UK does (11.14 percent ). Mexico is in second place, spending 17.31% of their income online while being very near the bottom of the list for lump sum spending (7th lowest, $819).

Interestingly, there is no relationship between LEDCs and MEDCs in terms of the percentage of wages spent online. Mexico, Indonesia, and India are in the top 5 countries for the percentage of wages spent online. South Africans are the most frugal online shoppers, spending only $171, or the lowest percentage of their income (1.04 percent ). mSee where your nation stands by reviewing our complete data collection!

Largest Online Spenders in the World in 2018: Research by a Website Builder Expert

Country              Ecommerce Spend Per Capita                 Average Salary                          % of Salary

                                        (US Dollars)                                       (US Dollars)                               spent Online    

China                                $1,855.00                                           $9,593.25                                       19.34%

Mexico                             $819.00                                             $4730.58                                         17.31%

Indonesia                        $220.00                                              $1,738.22                                        12.66%

UK                                    $4,021.00                                            $36,106.28                                      11.14%

Methodology

To determine the e-commerce spend per capita for each nation, we used openly accessible information from the Global B2C Ecommerce Report from the Ecommerce Foundation.

We then accessed the average pay for each researched country using the CNN Money Davos Global Wage Calculator. To determine the percentage of salary spent online, we converted this from the local currency to US dollars and compared it with the e-commerce spend per capita.

Conclusion

Despite first barely cracking the top 5 biggest online spenders, China’s e-commerce prowess became clear upon deeper inspection. China had more online shoppers in 2017 than the whole US population, at over 550 million!

Additionally, those 550 million internet consumers spend, on average, 5% of their annual income online.

It doesn’t appear as though China’s e-commerce supremacy will diminish anytime soon, given the country’s growing population and internet penetration rates.