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Taking as a benchmark the major European markets (UK, Germany, France and Spain), the USA, and the major Far Eastern markets (South Korea and Japan), these show markedly higher penetration rates for e-commerce than Italy, and slightly lower growth rates. Compared to the emerging markets (Brazil, India and Russia), Italy has a somewhat higher penetration rate and a generally lower growth rate. Italy occupies an anomalous position, having a growth rate in line with more mature markets, but a penetration rate only slightly above that in emerging markets. In other words, a market that is neither very dynamic nor very mature, but holding as yet untapped potential.