B2C E-commerce Market Trends & Growth Analysis
The global B2C E-commerce Market size was estimated at $3.32 Tn in 2019 and it is expected to reach a market size of $5.47 Tn by 2027. The market is projected to grow at a CAGR of 7.26% over the forecast period as per the new research report published by UpGraph Research.
B2C E-commerce is the business model where the transactions are completed between the companies who are the seller of products or services and the customers, who are the end-users of that product or services by using online platforms. B2C E-commerce is the trending technology in the current years as people are more familiar with the B2C E-commerce technology. Major people aware of the e-commerce services are buying stuff such as clothing, Smartphones & electronics, subscriptions, and services online. In the case of B2C e-commerce already established, players will not be the competition to the new participants, so they have massive potential in the niche and local markets. For the participants the formula for success will vary, it is based on the potential of their international distribution network, aggregators, specialty stores, etc.. However, when we talk about the key challenges of B2C E-commerce it is similar for all online stores. Shopify, Magneto, Bigcommerce, are the few platforms of B2C E-commerce where you can establish your online store by using these platforms.
In the past few years, Europe has generated worth about 500 billion euros via the B2C e-commerce platform. Also, Apac is the dominant player in case of revenue in 2019 and revenue will be increased in the forecast period. When we talk about the product who has a large market share in B2C e-commerce, that products are shoes and clothing.
Benefits of B2C e-commerce-
- There is no need for a physical presence in B2C e-commerce, as all the process is done online.
- You can gather the data from your customers online.
- As you are not bound to any physical place, you can increase your business in various locations.
- You can personalize your business.
B2C commerce challenges-
- The main challenge in such a model is consumer traffic
- Payment processing is another challenge as customers are hesitant to share their financial details on the online platform due to the trust issue.
- Client support
- Product findability
B2C E-commerce Market Segmentation
UpGraph Research has segmented the global B2C e-commerce market based on type, application, and region:
B2C E-commerce Type Outlook (Revenue, USD Billion, 2016 – 2027)
- B2C Retailers
B2C E-commerce Application Outlook (Revenue, USD Billion, 2016 – 2027)
- Home Décor & Electronics
- Beauty & Personal Care
- Travel & Tourism
- Books & Stationery
- Consumer Electronics
- Information Technology (Software)
- Clothing & Footwear
- Media & Entertainment
- Sports & Leisure
B2C E-commerce Regional Outlook (Revenue, USD Billion, 2016 – 2027)
- North America
- The U.S.
- The U.K.
- Asia Pacific
- Latin America
- The Middle East and Africa (MEA)
List of Key Players of B2C E-commerce Market