Tag: B2C e-commerce Market

B2C E-commerce Market Size Worth $6.2 Trillion By 2027

The global B2C e-commerce market size is anticipated to reach USD 6.2 trillion by 2027, registering a CAGR of 7.9% over the forecast period, according to a new report by Grand View Research, Inc. The increasing disposable income level, escalating usage of internet and smartphones, and an increasing number of online shoppers are expected to drive the market growth. Online goods and service providers offer various options to its customers, such as vast product portfolio, discounted price rates, convenient payment methods, same-day delivery, and easy return policies while purchasing any goods or services, resulting into growing customer preference toward e-commerce platforms.

The General Agreement on Trade in Services (GATS) provides the rules and regulations governing international trade in services, with significant implications for e-commerce. The anti-Spam Law is placed to protect consumers from receiving unsolicited marketing material. Although online businesses collect information from consumers, they are legally prohibited to spam people’s inboxes without their consent. Technological advancement supported by increasing usage of artificial intelligence (AI) is providing customers with the real-time shopping experience. For instance, augmented reality (AR) technology offers customers ‘virtual changing rooms’ wherein customers can try a product virtually.

The rapid evolution of e-commerce has brought numerous opportunities to both nascent as well as established players in the market. However, online payment processes have witnessed few challenges in the recent past. The interconnected and instantaneous nature of online payment channels have increased vulnerability towards cybercrime, digital frauds, and other malpractices. To overcome these cyber security concerns, it is essential to emphasize service security and protection of consumer’s data.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/b2c-e-commerce-market

Further key findings from the report suggest:

  • Clothing and footwear segment accounted for the largest market share in 2019, owing to increasing penetration of retail sales over online channels, accessories, and footwear spending
  • Asia Pacific dominated the market in terms of revenue in 2019 and is expected to register significant growth over the forecast period. The growth is attributed to the presence of a large number of B2C e-commerce providers in the region
  • Partnership, collaboration, and business expansion remain the major strategies adopted by the leading market players

B2C e-commerce Market Worth $7,724.8 Billion By 2025

The global B2C e-commerce market size is anticipated to reach USD 7,724.8 billion by 2025, growing at a CAGR of 11.7%, according to a new report by Grand View Research, Inc. The rising disposable income level, increasing middle-class population and increasing internet & smartphones penetration is likely to spur the market demand over the forecast period. The increasing acceptance of technology is allowing the e-commerce sector to be more efficient and reachable. The growing middle-class population and intense use of social media is also aggravating the demand of online purchasing of various products and services.

MEA region have a dynamic young population with one of the highest global per capita income. In addition to it, high level internet penetration is rapidly evolving online shopping market in the region. Chinese market is going through a consumer revolution, international products taking benefit of innovative marketing, research techniques and advertising. Brand consciousness is getting more importance in attracting Chinese consumers. Luxury goods and service providers are experiencing great growth in China.

The General Agreement on Trade in Services (GATS) provides the rules and regulations governing international trade in services, with great implications for e-commerce. Anti-Spam Law is placed to protect consumers from receiving unsolicited marketing material. As online business collects information of consumers, it cannot legally spam people without having them consent to it. Technological advancement is driving the global market. Retailers and e-commerce players are using augmented reality (AR) technology to enhance the shopping experience. This allow customers to try a product virtually.

The market is very volatile in nature and is experiencing a fierce competition, therefore, marked by an extensive presence of mergers and acquisitions. The key players in the market include Amazon, Alibaba, Jindong, Flipkart, and PayPal. E-commerce market players are focusing on unique changes to their business models in order to enable sellers & consumers to transact online. The big retailers in the market are trying to complement their traditional retailing with online commerce and tying up with other big e-commerce players.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/b2c-e-commerce-market

Further key findings from the report suggest:

  • The escalating middle-class population and technological advancements are expected to drive the market.
  • The travel & tourism segment is expected to portray high growth rate with a CAGR of 15.8% over the projected period
  • Increasing internet penetration and growing acceptance of smartphones are expected to be the drivers of the market over the forecast period.
  • The Asia Pacific region dominated the B2C e-commerce market in terms of revenue in 2016 and is expected to have significant growth over the forecast period.
  • The key players of the market include Alibaba (China), Amazon.com, Inc.(U.S.), and eBay Inc. (U.S.)