2. Trust
Consumer trust and confidence in eCommerce must be strengthened.
Online trust is necessary for growth in online trade - especially across borders. Developments in eCommerce, cloud computing and open data creates both opportunities and challenges. The current legislation needs to be followed closely and updated when new technologies offer better tools for online confidence, such as electronic identification and signatures.
- Consumers spend EUR 1.5 trillion annually on digital information and entertainment worldwide
- If eCommerce reach 15 percent of retail sales in Europe, consumer benefits from more options and lower prices is estimated at EUR 200 billion (1.7 percent of European GDP).