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The global B2C e-commerce market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 9% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Business-to-consumer (B2C) e-commerce refers to the process of selling goods and services between a business and end users over the Internet. It offers global reach, enables trackable marketing, reduces physical overheads, and assists in gathering real-time data. Consequently, companies worldwide are shifting towards e-commerce platforms for selling goods and attracting more consumers. Besides this, due to rapid digitization and the rising demand for medical services, B2C e-commerce is also finding applications in the healthcare sector for providing remote access to medical services and helping healthcare professionals make more informed decisions.
Factors like hectic lifestyles, inflating per capita incomes, increasing penetration of the Internet, rising utilization of smartphones, and the growing trend of fast fashion are escalating the demand for premium clothing and cosmetics through online portals. This represents one of the main factors influencing the market positively. Moreover, the advantages of B2C e-commerce services, such as convenience, 24/7 delivery, easy return policies, multiple payment options, and easy navigation of product categories, are increasing their adoption in the electronics, automotive, and travel and tourism industries worldwide. Apart from this, with the sudden coronavirus disease (COVID-19) outbreak, governments of numerous countries announced a complete lockdown. This resulted in the temporary closure of brick-and-mortar stores and the increasing need for B2C e-commerce solutions across the globe. Additionally, various brands are adopting innovative marketing strategies, such as contests, giveaways, free add-ons, and loyalty and reward programs, to attract a wider consumer base. Furthermore, with the increasing influence of social media channels, B2C e-commerce is anticipated to witness growth as it allows small stores to collaborate with popular online portals.
IMARC Group provides an analysis of the key trends in each sub-segment of the global B2C e-commerce market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, type and application .
Breakup by Type:
Breakup by Application:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Alibaba Group Holding Limited, Amazon.com Inc., ASOS plc, Booking Holdings Inc., eBay Inc., JD.com Inc., Macy's Inc., Makemytrip Limited, Otto GmbH & Co KG, Rakuten Inc. and Walmart Inc.
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