Cross-Border B2C E-Commerce Market

Cross-Border B2C E-Commerce Market

Cross-Border B2C E-Commerce Market- By Category, Payment Method, Offering, and End-user

Market Synopsis:

Cross-Border B2C E-Commerce Market is valued at USD 793.7 Billion in 2021 and is projected to reach a value of USD 3,042.2 Billion by 2028 at a CAGR of 25.1% over the forecast period;

The growth of Cross-Border B2C E-Commerce market is anticipated due to the increasing social relationships between various countries, increasing purchases, and mergers across various sectors which are expected to increase the demand for Cross-Border B2C E-Commerce globally. Moreover, the growth of online stores is also fueling the selling of high-end products during the forecast period. E-commerce allows a simple purchase of goods which is manufactured in remote locations and has widely contributed to the growth of the global cross-border e-commerce market industry during the forecast period. Due to the increase in globalization, cross-border e-commerce business activities have increased momentum owing to sales of online goods to consumers in countless countries, and thus gained incredible growth of e-commerce businesses globally and is projected to drive the growth of the Cross-Border B2C E-Commerce market in the coming years. Furthermore, the e-commerce business is constantly growing and undertaking transformations due to the spread of coronavirus globally, thus increasing the consumer's online shopping and observing severe changes in buying behavior of consumers. However, e-commerce is based on modern internet information technology and conducts paperless transactions, breaks downtime, and increases the growth of business networks which is expected to increase its demand in the upcoming years. Whereas, the growing international trade between nations associated with the rising acquisitions and mergers in the industry is predicted to provide substantial growth opportunities for the growth of Cross-Border B2C E-Commerce market in the upcoming years. Besides, issues related to logistics like return logistics, import regulations, high shipping costs, and long-distance delivery are some of the factors hampering the growth of Cross-Border B2C E-Commerce market during the forecast period.

Market Segmentation:

The cross-board B2C e-commerce market is segmented on the basis of Category, Payment Method, Offering, and end-user. Based on category, the market is segmented as Entertainment & Education, Apparel & Accessories, Consumer Electronics, Home Furnishing, Personal Care & Beauty, Healthcare & Nutrition, Footwear, Food & Beverage, and others. On the basis of payment methods, the market is segmented as Digital Wallets, Credit/Debit Cards, Internet Banking, and others. Based on offerings, the market is segmented as In-House Brands and Assorted Brands. On the basis of end-user, the market is segmented as Adults, Teenagers/Millennials, Senior Citizens, and others.

The digital wallets segment is projected to grow at the highest CAGR in the coming years

By Payment Method, the digital wallet segment is projected to grow at the highest CAGR during the forecast period. The growth of digital wallets is attributed to the maximum utilization of online payments. Maximum consumers are going cashless and using their digital wallets for payments purpose. The coronavirus pandemic had a positive influence on the digital wallet segment as people were mostly making use of wallets for numerous applications. Moreover, digital wallets can be used by youngsters as well as the geriatric population and thus drives the growth of the digital wallets segment in the cross border B2B e-commerce market.

The assorted brand's segment is projected to grow at the highest CAGR during the forecast period

Based on offering segmentation analysis, the assorted segment is predicted to grow at the highest CAGR during the forecast period in the Cross-Border B2C E-Commerce market. The rising demand for various products during the covid-19 pandemic has increased the demand for assorted brands. The assorted brands will continue to grow in coming years as the public is preferring online shopping of various products, food and beverage, and clothes and thus drives the growth of the assorted brand segment during the forecast period.

Asia Pacific is projected to grow at a considerable CAGR during the forecast period

The Asia Pacific region is predicted to grow at a considerable CAGR during the forecast period and will continue to dominate the Cross-Border B2C E-Commerce market in the coming years. The growth of Asia Pacific is attributed to the unique online shopping ecosystem available in emerging countries such as China. According to the research, the transaction volumes of imported goods purchased online reached $245 billion, and in five years approx. 200 million local consumers will be cross-border shipping which is expected to boost the growth of the Cross-Border B2C E-Commerce market in the coming years. Additionally, Asia Pacific gains profit in terms of cross-border e-commerce revenue and thereby driving the growth and market value of the Asia Pacific region during and after the forecast period. Furthermore, the rich and middle-class population is rapidly adopting online shopping techniques and growth in the e-commerce businesses in the most popular products categories such as clothing and apparel, toys, personal care, and cosmetics, and books and media is gaining traction in Asia Pacific region during the forecast period.

Competitive Landscape:

In order to gain a competitive edge over the business rivals, each market player is trying to capture the maximum share of the market. Some of the major key players in the market are Amazon.com Inc., Etsy Inc, eBay Inc, Alibaba Group, Wish Inc, VeePee, Cnova, Asos Plc, Fruugo, JD.com (JingDong), Apple Inc, DHL Group, eCommerce, BoxMe, Paypal, Asia Commerce, SingPost, Shipping Cart, Anchanto.

Segmentation of Cross-Border B2C E-Commerce Market:

By Category -(Revenue- USD Million, 2016-2028)

· Entertainment & Education

· Apparel & Accessories

· Consumer Electronics

· Home Furnishing

· Personal Care & Beauty

· Healthcare & Nutrition

· Footwear

· Food & Beverage

· Others

By Payment Method -(Revenue- USD Million, 2016-2028)

· Digital Wallets

· Credit/Debit Cards

· Internet Banking

· Others

By Offering -(Revenue- USD Million, 2016-2028)

· In-House Brands

· Assorted Brands

By End-User (Customizable)-(Revenue- USD Million, 2016-2028)

· Adults

· Teenagers/Millennial

· Senior Citizens

· Others

By region- (Revenue- USD Million, 2016-2028)

North America-

• The US

• Canada

• Mexico

Europe-

• Germany

• The UK

• France

• Italy

• Spain

• Rest of Europe

Asia-Pacific

• China

• Japan

• India

• South Korea

• South East Asia

• Rest of Asia Pacific

Latin America

• Brazil

• Argentina

• Rest of Latin America

Middle East & Africa-

· GCC Countries

· South Africa

· Rest of Middle East and Africa