According to the latest report by IMARC Group, titled “B2C E-commerce Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global B2C e-commerce market size reached US$ 4.1 Trillion in 2021. Business-to-consumer (B2C) e-commerce refers to the process of direct exchange of products and services between a business and consumers over the internet. It employs various technologies, such as electronic funds transfer, internet marketing, supply chain management, online transaction processing, electronic data interchange (EDI), and automated data collection systems. B2C e-commerce also adopts search engine optimization (SEO), online advertisements, and virtual marketing techniques to expand consumer reach. Apart from this, it offers global reach, enables trackable marketing, reduces physical overheads, and assists in gathering real-time data.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global B2C E-commerce Market Trends:
The growth of the global B2C e-commerce market can be attributed to inflating disposable incomes, increasing sales of smartphones, rapid digitization, and the availability of high-speed internet connections. This has enabled online platforms to be more reachable and efficient. In line with this, rising awareness regarding its associated convenience, multiple payment options, easy return policies, and diverse product categories are further catalyzing the market growth. Additionally, key players are providing monetary benefits to consumers in the form of discount coupons, referrals, contests, giveaways, and loyalty reward programs, which is acting as a growth-inducing factor. Due to the lockdown implemented in response to the outbreak of coronavirus disease (COVID-19), the need for B2C e-commerce platforms intensified significantly across the globe, which, in turn, is creating a positive outlook for the market. Looking forward, the market is expected to grow at a CAGR of 5.4% during 2022-2027.
- Based on the type, the market has been bifurcated into B2C retailers and classifieds.
- On the basis of the application, the market has been divided into automotive, beauty and personal care, consumer electronics, clothing and footwear, books and stationery, home decor and electronics, travel and tourism, and others.
- Region-wise, the market has been segmented into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined, with some 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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