B2C E-commerce Market - Size, Industry Trends, Competitive Landscape, and Opportunities and Forecast 2022 - 2030
The Global B2C E-commerce Market size accounted for USD 5 Trillion in 2021 and is anticipated to reach USD 15 Trillion by 2030 with a CAGR of 13.6% from 2022 to 2030.
Business to Consumer e-commerce is abbreviated as B2C E-commerce. It is a digital copy of the conventional brick-and-mortar retail outlet as we know it. The term refers to the process of selling goods and services from businesses to consumers through online platforms. The B2C E-commerce industry sells finished goods that are suitable for the intended consumption. Electronic commerce from business to consumer is one aspect of the electronic commerce spectrum. Another type of electronic commerce is business-to-business commerce. B2B online trade focuses on businesses at various stages of the production value chain.
B2B eCommerce is an online business model that allows two businesses to conduct online sales transactions, whereas B2C eCommerce refers to a process of selling directly to individual customers.
A B2C transaction would be someone booking a pet hotel for their dog or purchasing a pair of shoes online. Most people are probably familiar with this model. Some businesses are both B2B and B2C in nature. For example, an events management business may organise weddings and provide conference services to businesses to other businesses.
The most significant advantage of B2C eCommerce is its global reach. Even small home-based businesses can sell to consumers on the other side of the globe. The ability to sell to anyone, anywhere ensures that success is unavoidable.
B2C has traditionally dominated by in-store purchases, in which consumers must visit a physical store to purchase something from a brand. Management can reduce overhead costs by incorporating an eCommerce component into their business.
B2B eCommerce software will not only help you reach a larger customer base and entice more buyers, but it will also help you enhance sales by implementing automated cross-sell and up-sell programmes. For example, a large wholesaler who used our B2B eCommerce solution saw an average sales increase of 10.5%.
Programs can be used to provide relevant suggestions, inspire customers to purchase additional, similar products, or upgrade their picked products to higher-spec models. They also offer personalized promotions and price mapping to ensure that the right consumers see the right prices at the right time.
The global expansion of the coronavirus has resulted in a shift toward digital alternative solutions to cash in retail locations as well as payment for online orders. Some customers avoid using cash as a COVID-19 vector, while others simply switch to plastic or virtual payments as a result of ordering online. However, the report suggests that, while the number of online funds transfer has increased, the total importance of online payments will probably be lower for the current financial year as consumers purchase fewer big ticket items and fewer travel arrangements.
Product, Device, network type, chipset, platform, and region are the six categories of the global B2C e-commerce industry. Based on the product sector, the segmentation includes electronics, apparel and accessories, books and music, travel, health, and others. Based on our analysis, the small cell segment is expected to dominate the B2C E-commerce market during the predicted years.
The Device segment is divided into PCs, Smart Phone, Tablet, and Others. Based on Device model, the smartphones segment achieved a significant market share in 2021.
Global B2C E-commerce Market Geographical Competition
North America, Europe, Latin America, Asia-Pacific, and the Middle East & Africa are the segmentation of the worldwide B2C E-commerce industry. North America has the greatest market share among all regions in 2021. The early adoption in the major economies of the region including the US and Canada is contributing to the regional market value. However, the Asia-Pacific region is anticipated to witness the fastest growth rate from 2022 to 2030. The continuously developing sales in prominent economies of the region including China, India, Indonesia, Vietnam, and Singapore are supporting the fastest growth of the region.
Global B2C E-commerce Industry Segment Analysis
Market By Product
· Apparel and Accessories
· Books, Music
Market By Device
· Smart Phone
B2C E-commerce Market Leading Companies
This section of the study honors the market's top vendors Amazon.com, Inc., Alibaba Group Holding Ltd., Jd.com, Inc., Best Buy Company, Inc., Cnova N.V., eBay Inc., Rakuten, Tesco PLC, Otto GmbH & Co. KG, WalMart Stores, Inc.
B2C E-commerce Market Regions
· Rest of Europe
· Rest of Latin America
· South Korea
· Rest of Asia-Pacific
Middle East & Africa
· South Africa
· Rest of Middle East & Africa