The eServices market in BRICS is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this growth. Customer preferences in the eServices market in BRICS are shifting towards convenience and efficiency. With the increasing penetration of smartphones and internet connectivity, customers are looking for services that can be accessed and utilized easily from their mobile devices. This has led to a rise in demand for mobile payment services, online shopping platforms, and on-demand services such as ride-hailing and food delivery. Trends in the market show that eServices are becoming more integrated into everyday life in BRICS countries. Online shopping platforms have gained popularity due to their wide range of products, competitive prices, and convenient delivery options. Mobile payment services have also seen a surge in usage, with customers preferring to make transactions using their smartphones rather than traditional payment methods. Additionally, on-demand services such as ride-hailing and food delivery have become an integral part of urban life, providing convenience and efficiency to customers. Local special circumstances in BRICS countries also contribute to the growth of the eServices market. For example, in China, the government has been actively promoting the development of e-commerce and digital payment systems as part of its economic growth strategy. This has led to the rapid expansion of online shopping platforms and mobile payment services in the country. In India, the government's push for digitalization and financial inclusion has resulted in the widespread adoption of mobile payment services. Brazil has also seen a significant increase in e-commerce and digital payment usage, driven by a growing middle class and increasing internet penetration. Underlying macroeconomic factors play a crucial role in the development of the eServices market in BRICS. The rapid urbanization and increasing disposable income in these countries have created a large consumer base for eServices. Additionally, the growing middle class and rising internet penetration have further fueled the demand for convenient and efficient online services. Furthermore, the COVID-19 pandemic has accelerated the shift towards digital services, as people are increasingly relying on eServices for their daily needs. In conclusion, the eServices market in BRICS is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The shift towards convenience and efficiency, the integration of eServices into everyday life, government support, and favorable macroeconomic conditions all contribute to the growth of the eServices market in BRICS.
Data coverage:
The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.Modeling approach / Market size:
Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.Additional notes:
The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.
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