Business-to-Consumer (B2C) E-commerce Market

Business-to-Consumer (B2C) E-commerce Market

Market Synopsis

Global Business-to-Consumer (B2C) E-commerce Market is valued at 3.50 USD Trillion in 2021 and is projected to reach a value of 6.38 USD Trillion by 2028 at a CAGR of 8.67% over the forecast period. The major factors driving the growth of the Global Business-to-Consumer (B2C) E-commerce Market in the forecast period are, a user-friendly website, multiple payment modes available, multiple EMI options, a wide range of products, home delivery, and an easy and secure return and refund policy. Moreover, the factors like hectic lifestyles, inflating per capita incomes, increasing penetration of the Internet, growing utilization of smartphones, and the growing trend of fast fashion will escalate the demand for the B2C market in the upcoming years. In addition, with the increasing number of people moving to e-commerce and connecting to the internet using their smartphones and computers, they are getting connected to E-commerce markets, driving the growth of the market in coming years. The COVID-19 pandemic has resulted in the growth of this industry because people prefer to stay safe at home and order all the essential items from their home, these factors have boosted the growth of the Global Business-to-Consumer (B2C) E-commerce Market during the forecast period. The rising technological adoption associated with the easy availability of smartphones and the integration of the B2C market with Artificial Intelligence will spur the growth of the market in the forthcoming years. The increasing use of social networks is further driving the demand for online purchasing of various products. Furthermore, the advantages of Business-to-Consumer (B2C) E-commerce services, such as convenience, 24/7 delivery, easy return policies, easy availability of a diverse variety of products, multiple payment options, and easy navigation of product categories, are increasing their adoption in the electronics, automotive, and travel and tourism industries worldwide.

Market Segmentation:

The Business-to-Consumer (B2C) E-commerce Market is segmented on the basis of type, application. On the basis of type, the market is segmented as B2C Retailers, Classifieds, Others. On the basis of application, the market is segmented as, Automotive, Beauty & Personal Care, Books & Stationery, Consumer Electronics, Clothing & Footwear, Home Décor & Electronics, Sports & Leisure, Travel & Tourism, Media & Entertainment, Information Technology (Software), Others.

Based on type, the B2C Retailers acquired the largest share of the market in the forecast period.

The B2C retailers segment accounted for the largest revenue share over the forecast period. The rising mobile transactions and internet banking is expected to drive retailers’ segment over the forecast period. In addition, urbanization and smart city development in developing countries have contributed to the westernized lifestyle, which is further changing the shopping pattern from traditional to online. The ease of doing business online due to globalization, potent logistics infrastructure, and high demand across the borders are attributed to the growth. The classifieds segment is expected to expand at a rapid pace over the forecast period. The segment includes multiple classified services for real estate, recruitment, automotive, and matrimony at one place as per users’ requirements. The growth is attributed to an increase in mobile-based advertising, low cost of online advertising, and decreasing the print advertising market.

Based on application, the clothing and footwear acquired the largest share of the market in the forecast period.

The clothing and footwear segment dominated the market over the forecast period. This is because of the rapid growth of the online clothing marketplace, through which retailers and manufacturers sell their goods. Shopping through fashion websites is advantageous as it facilitates multiple payments options and a wide range of product variety, home delivery, and easy return. The simplified and user-friendly website user interface allows easier navigation of various product categories with the help of the search system, thereby increasing the interest of the consumer in the product as well as the website, boosting the growth of the online businesses. The clothing websites reduce rush at stores, increase the reach of retailers, and allow the customers to shop from anywhere with a hectic work schedule. In addition, the virtual changing rooms, door-step delivery, and return have reduced transportation or traveling trouble while websites remain active 24*7 for shopping. All the above factors are propelling the growth of this segment in the coming years. The consumer electronics segment is anticipated to register significant growth over the forecast period. The growth is due to rising internet usage and the growing interest of consumers towards the new electronics products as per the social trends. The growing use of artificial intelligence (AI) and in-app augmented reality is providing customers with the real-time shopping experience of consumer electronics, which contributes significantly to the decision-making process. In addition, factors such as social media advertising, same-day delivery, custom packaging are boosting the growth of this segment.

The Asia Pacific acquired the largest share of the market in the forecast period.

In 2021, the Asia Pacific accounted dominated the market and is projected to grow extensively over the forecast period. The region holds nearly two-thirds of the global population which acts as a major driver for the growth of the market in the region. The economic development, rising population, growing penetration of smartphones in China and India is one of the key reason for regional growth. In addition, the increasing internet connectivity in second-tier cities & rural areas, the untapped market which acts as a popular option for international brands and web shoppers around the world, drives the growth of the market in the region.North America is estimated to witness steady growth over the forecast period. This growth is attributable to an increase in spending, expansion of e-retailers in new applications like grocery, and growth in e-commerce sales. In addition, the region having the highest rates of internet penetration in the world will boost the growth of the market in the coming years. In countries like the U.S, where consumers are more specific about product quality, composition and price, it is anticipated to fuel the adoption of foreign brands and products through e-commerce websites.

Competitive Landscape-

Some of the major key players in the Business-to-Consumer (B2C) E-commerce Market are ALIBABA GROUP HOLDING LIMITED

Business-to-Consumer (B2C) E-commerce Market is segmented as follows:

Business-to-Consumer (B2C) E-commerce

Market is tabulated as follows: