Global B2C E-commerce Market to be Driven by the Growing Internet Penetration in the Forecast Period of 2023-2028
The new report by Expert Market Research titled, ‘Global B2C E-commerce Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global B2C e-commerce market assessing the market based on its segments like types, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2021): USD 3.7 trillion
• Forecast CAGR (2023-2028): 9.8%
• Forecast Market Size (2027): USD 6.40 trillion
The market growth of B2C e-commerce can be attributed to the increasing internet penetration, rising disposable incomes, and growing smartphone ownership. With the surging brand consciousness and the rising focus on product quality, price, and composition, consumers are increasingly preferring to purchase products from B2C e-commerce platforms. Consumers in developing countries are also utilising B2C e-commerce platforms for hassle-free purchases, especially in the wake of the COVID-19 pandemic. Moreover, the rising sales of clothing and consumer electronics products in countries such as India and China are increasing the reliance on B2C e-commerce platforms, which is providing impetus to the growth of the market.
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B2C E-commerce Industry Definition and Major Segments
B2C e-commerce, variously known as retail e-commerce, is a digital sales model that involves direct sales between online sellers and consumers. It enhances the global reach of small businesses and lower overhead costs. Moreover, B2C e-commerce eases business operations while bolstering the overall consumer experiences.
The market, by type, can be divided into:
• B2C Retailers
• Classifieds
Based on application, the market is categorised into:
• Automotive
• Beauty and Personal Care
• Books and Stationery
• Consumer Electronics
• Clothing and Footwear
• Home Décor and Electronics
• Sports and Leisure
• Travel and Tourism
• Media and Entertainment
• Information Technology (Software)
• Others
The regional markets of B2C e-commerce are:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
B2C E-commerce Market Trends
With the rapid digital revolution, consumers are preferring sales channels offering direct interaction between consumers and sellers, hence propelling the market for B2C e-commerce. The ease of usage, convenience, diverse product availability, and cost-effective alternatives offered by online platforms are also increasing their popularity and driving the growth of the market. Rapid technological advancements and the growing affordability of smartphones are expected to provide lucrative growth opportunities to the market growth. In addition, the market is anticipated to be bolstered by the surging usage of social media platforms for B2C purchases, the increasing ease of doing business, and the growing logistics infrastructure.
Key Market Players
The major players in the market are Alibaba Group Holding Limited, Amazon.com Inc., eBay Inc., Flipkart Group, and Myntra, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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