B2C E-Commerce Market – in-Depth Industry Analysis, New Trends, and Future Growth Potential 2021 – 2028 | Grand View Research, Inc.

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According to a new report published by Grand View Research, The growth can be attributed to the rising 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.

B2C E-commerce Market Growth & Trends

The global B2C e-commerce market size is anticipated to reach USD 7.65 trillion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 9.7% over the forecast period. The increasing disposable income level, escalating usage of internet and smartphones, and an increasing number of online shoppers are expected to drive the market growth. Online goods and service providers offer various options to their customers, such as vast product portfolio, discounted price rates, convenient payment methods, same-day delivery, and easy return policies while purchasing any goods or services, resulting in growing customer preference toward e-commerce platforms.

The General Agreement on Trade in Services (GATS) provides the rules and regulations governing international trade in services, with significant implications for e-commerce. The anti-Spam Law is placed to protect consumers from receiving unsolicited marketing material. Although online businesses collect information from consumers, they are legally prohibited to spam people’s inboxes without their consent. Technological advancement supported by increasing usage of Artificial Intelligence (AI) is providing customers with a real-time shopping experience. For instance, Augmented Reality (AR) technology offers customers ‘virtual changing rooms’ wherein customers can try a product virtually.

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The rapid evolution of e-commerce has brought numerous opportunities to both nascent as well as established players in the market. However, online payment processes have witnessed few challenges in the recent past. The interconnected and instantaneous nature of online payment channels has increased vulnerability towards cybercrime, digital frauds, and other malpractices. To overcome these cybersecurity concerns, it is essential to emphasize service security and the protection of consumer’s data.

B2C E-commerce Market Report Highlights

The market is anticipated to witness substantial growth during the forecast period, owing to the augmented use of smartphones and the increasing use of social media, among others
The clothing and footwear segment accounted for the largest market share in 2020, owing to increasing penetration of retail sales over online channels, accessories, and footwear spending
Asia Pacific dominated the market in terms of revenue in 2020 and is expected to register significant growth over the forecast period. The growth is attributed to the presence of a large number of B2C e-commerce providers in the region
Partnership, collaboration, and business expansion remain the major strategies adopted by the leading market players

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B2C E-commerce Market Segmentation

Grand View Research has segmented the global B2C e-commerce market based on type, application, and region:

B2C E-commerce Type Outlook (Revenue, USD Billion, 2016 – 2028)

B2C Retailers
Classifieds

B2C E-commerce Application Outlook (Revenue, USD Billion, 2016 – 2028)

Automotive
Beauty & Personal Care
Books & Stationery
Consumer Electronics
Clothing & Footwear
Home Décor & Electronics
Sports & Leisure
Travel & Tourism
Media & Entertainment
Information Technology (Software)
Others

B2C E-commerce Regional Outlook (Revenue, USD Billion, 2016 – 2028)

North America
U.S.
Canada
Europe
Germany
U.K.
France

Asia Pacific
China
India
Japan

Latin America
Brazil
Mexico

Middle East and Africa (MEA)

List of Key Players of B2C E-commerce Market

ALIBABA GROUP HOLDING LIMITED
Amazon.com, Inc.
ASOS
eBay Inc.
Flipkart Internet Private Limited
JD.com, Inc.
MakeMytrip Pvt.Ltd.
OLX
PayPal Holdings, Inc.
Craigslist, Inc.

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About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

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