B2C E-commerce Market 2020 and Forecast 2021-2027

  • TBI94862
  • November 28, 2020
  • Global
  • 135 pages
  • IFF Market Research
                                              

Report Overview: B2C E-commerce Market

The global B2C e-commerce market size was valued at USD 2.24 trillion in 2020 and looks set to grow at a compound annual growth rate (CAGR) of 6.8% from 2021 to 2027. It is expected to witness a surge in demand, owing to the increase in disposable income, global per capita income, and expanding internet penetration. The increasing technological adoption accompanied by the easy availability of smartphones has enabled the e-commerce sector to be more reachable and efficient. The increasing use of social network is further aggravating the demand of online purchasing of various products and services. The market is expected to witness high growth over the forecast period mainly due to growing digital dependency and convenience of shopping on online platforms. It has evolved amid a busy lifestyle and an overabundance of options available to shop from the comfort of home. Convenience is the major factor driving growth of the overall online shopping industry. Customers can find their interested products by visiting the website and gain additional insights on various products. The market is witnessing a paradigm shift toward m-commerce from e-commerce, as customers increasingly use smartphones to purchase goods and services online. Lack of organized offline retail sector is also driving the growth at a global scale. The industry is relatively stable in nature and the competitive rivalry continues to be intense due to mergers and acquisitions. Key players in the B2C e-commerce market include Amazon.com, Inc.; ALIBABA GROUP HOLDING LIMITED; JD.com, Inc.; Flipkart.com; and PayPal Holdings; Inc. The companies continue to show tremendous growth and attract big investors, in tandem with the global giants, thereby, leveling up the competition. Besides, the companies are distinguishing themselves by providing niche product offering along with innovative services. In light of the recent coronavirus (COVID19) pandemic, B2C e-commerce platforms experienced a steep demand for essential goods products such as groceries, personal care products, and bathroom essentials. However, the rising severity of COVID-19 across the globe has forced governments across various countries for complete lockdown, thereby disrupting supply chains and impacting e-commerce sales in a negative way. Moreover, U.S. and China-leading contributors to e-commerce growth-have been hit hardest by the COVID-19 pandemic.

Application Insights: B2C E-commerce Market

The clothing and footwear segment accounted for the largest revenue share of 24.01% in 2019 and is expected to continue its dominance over the forecast period 2021-2027. This is attributed to the massive expansion of online apparel marketplace, through which retailers and manufacture markets their goods. Shopping through fashion websites is beneficial, including multiple payments and goods options, home delivery, and easy return. The simplified and user-friendly website interface allows easier navigation of various product categories with the help of the search system, thereby increasing the indulgence of the consumer. Apparel websites aided in reducing rush at stores, increasing the reach of retailers, and allowing shop from anywhere to the consumer with a hectic work schedule. Additionally, the virtual changing rooms, door-step delivery, and return have further eradicated transportation or traveling trouble while websites remain active 24*7 for shopping. The consumer electronics segment is anticipated to register a considerable growth rate over the forecast period. The growth is attributed to increasing internet usage and growing interest of consumers towards the new electronics products and trends. Increasing usage of artificial intelligence (AI) and in-app augmented reality are providing customers with the real-time shopping experience of consumer electronics, which contributes significantly to the decision-making process. Similarly, factors such as social media advertising, same-day delivery, custom packaging are attracting a greater number of customers.

Type Insights: B2C E-commerce Market

The B2C retailers segment accounted for the largest revenue share of 99.47% in 2019 and is expected to continue its dominance over the forecast period. Increase in the mobile transactions and internet banking is expected to drive retailers segment over the forecast period. Furthermore, 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. Factors such as ease of doing business due to globalization, potent logistics infrastructure, and high demand across the borders are attributed to the growth. The classifieds segment accounted for a revenue share of 0.53% in 2019 and is expected to expand at the highest CAGR of 9.9% over the forecast period. The growth is attributed to increase in mobile classifieds advertising, low cost of online advertising, and decreasing the print advertising market. The segment includes multiple classified services for real estate, recruitment, automotive, and matrimony at one place as per users requirements.

Regional Insights: B2C E-commerce Market

Asia Pacific accounted for the largest revenue share of 36.30% in 2019 and is expected to retain dominance over the forecast period. The region accounts for nearly two-thirds of the global population and economic development-with China and India at the forefront-remain key regional growth drivers. The growth is attributed to the increasing internet connectivity in second-tier cities & rural areas. The untapped market in this region acts as a popular destination for international brands and web shoppers around the world. North America and Europe regions are positioned to witness steady growth over the forecast period. North America has one of the highest rates of internet penetration in the world. U.S. consumers are specific about product quality, composition and price, thereby fueling their adoption of foreign brands and products. MEA and Latin America regions are expected to register considerable growth during the forecast period. Middle East region has a dynamic young population with one of the highest global per capita income. In addition to it, expanding internet penetration is driving the rapidly evolving shopping e-commerce industry in the region.

Key Companies & Market Share Insights: B2C E-commerce Market

B2C e-commerce players are involved in strategies such as partnerships, business expansions, new product developments, and contracts to expand their market share. For instance, in March 2018, Amazon.com, Inc. announced a partnership with FICCI, a non-government, not-for-profit organization. The partnership aimed at enabling Indian exporters to expand product sales internationally. Also, both the companies will conduct workshops and training events in India to educate manufacturers and exporters on B2C exports and help them sell products via Amazon Global Selling in international marketplaces. Some of the prominent players in the B2C e-commerce market include:

Key companies Profiled: B2C E-commerce Market Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Trusted Business Insights has segmented the global B2C e-commerce market report into type, application, and region:

Type Outlook (Revenue, USD Billion, 2016 - 2027)

  • B2C Retailers
  • Classifieds

Application Outlook (Revenue, USD Billion, 2016 - 2027)

  • Automotive
  • Beauty & Personal Care
  • Books & Stationery
  • Consumer Electronics
  • Clothing & Footwear
  • Home Decor & Electronics
  • Sports & Leisure
  • Travel & Tourism
  • Media & Entertainment
  • Information Technology (Software)
  • Others
b. The global b2c e-commerce market size was estimated at USD 3,356.02 billion in 2019 and is expected to reach USD 3,667.04 billion in 2020.

What is the b2c e-commerce market growth?

b. The global b2c e-commerce market is expected to grow at a compound annual growth rate of 7.9% from 2020 to 2027 to reach USD 6,235.43 billion by 2027.

Which segment accounted for the largest b2c e-commerce market share?

b. North America dominated the b2c e-commerce market with a share of 31.32% in 2019. This is attributable to openness of U.S. consumers to foreign brands and products, awareness about overconsumption, environment, product quality, its composition and price.

Who are the key players in b2c e-commerce market?

b. Some key players operating in the b2c e-commerce market include Alibaba (China), Amazon.com, Inc. (U.S.), and eBay. Inc.(U.S.)

What are the factors driving the b2c e-commerce market?

b. Key factors that are driving the market growth include increasing acceptance of technologyalong with the growing middle-class population and intense use of social media is also aggravating the demand of online purchasing of various products and services.  

Table of Contents
Chapter 1. Methodology and Scope
    1.1. Research Methodology
    1.2. Research Scope and Assumptions
    1.3. List of Data Sources
    1.4. List of AbbreviationsChapter 2. Executive Summary
    2.1. Market Summary
    2.2. B2C E-Commerce Market, 2016 - 2027Chapter 3. Market Variables, Trends, and Scope Outlook
    3.1. Market Segmentation
    3.2. Market Size and Growth Prospects, 2016 - 2027       
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