HOUSTON--(BUSINESS WIRE)--GankIt.com (OTCQB: GANK), one of the fastest growing online auction sites in the U.S., is exploring Asia as an expansion market. This year, for the first time, consumers in the Asia-Pacific region will spend more on e-commerce purchases than those in North America, making it the largest regional e-commerce market in the world, according to eMarketer’s forecasts and a prime target for overseas expansion.
This year, B2C e-commerce sales are expected to reach $525.2 billion in the Asia-Pacific region, compared with $482.6 billion in North America. The strength of sales in this emerging market is largely due to increasing online purchasing by large populations in the region. Asia-Pacific will claim more than 46% of digital buyers worldwide in 2014.
“As the Asian market is forecast to strengthen and with more than 44% of the world’s Internet users located in the region, the prospect of expanding our e-commerce business in the area looks promising,” says John Arnold, President of GankIt. “As we take GankIt to the next level, we will initially target China and Japan, Asia’s two largest economies.”
China-based e-commerce giant Alibaba, one of the world’s largest Internet companies, claims more than $150 billion worth of merchandise changes hands on its online platform each year, more than Amazon and eBay combined.
GankIt offers the latest electronics and sought-after items from Apple (NASDAQ:AAPL) and others in an e-commerce setting alongside eBay (NASDAQ:EBAY) and Amazon (NASDAQ:AMZN).
About GankIt Corporation (OTCQB: GANK)
GankIt Corporation is a publicly traded company on the OTC Market under the ticker symbol GANK. Headquartered in Houston, Texas, GankIt combines the excitement of the online auction in an e-commerce framework. GankIt.com is an entertaining, strategic and competitive online auction site where users have a chance to win brand new, factory-sealed merchandise. Consumers have fun while they vie for deep discounts on the hottest products, shipped directly to their doorstep.
To learn more about GankIt, visit www.gankit.com.
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