What is the Average Consumer Spend per eCommerce Transaction in 2023? Infographic

What is the Average Consumer Spend per eCommerce Transaction in 2023?

The latest study by the payment experts at Juniper Research predicts that the eCommerce market will be worth over $8 trillion by 2027, up from $5 trillion in 2023. This infographic illustrates how the average transaction spend on remote physical and digital goods varies across several markets, including the US and UK, China, and India.

This study, which can be found here, cautions that the increasing variety of payment options available to consumers means eCommerce vendors must offer the most attractive payment methods for their customers. Given the cost and complexity of integrating a large number of payment options, merchants must strategically select which payment methods best support their objectives, such as BNPL (Buy Now Pay Later), to increase average order value.
 

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Our complimentary whitepaper, How Alternative Payments are Disrupting eCommerce, examines key trends within the eCommerce payment sector, including the benefits of providing a range of frictionless payment options to users, and in turn how this impacts eCommerce merchants and causes the reduction in cart abandonment rates.
   
“Juniper Research’s eCommerce Payments research report provides a detailed evaluation of the market, including the rise of alternative payment types, their future prospects, and barriers to future growth with online sales. In addition, this report covers market opportunities; providing strategic insights into the development of new technologies and key drivers that are important for both retailers and payments platforms. The report also positions 19 eCommerce Payments vendors in our Juniper Research Competitor Leaderboard; providing an invaluable resource for stakeholders seeking to understand the competitive landscape in the market.”