07 May 2021
Visiongain has published a new report on Business-to-Consumer (B2C) E-commerce Market Report to 2031: Forecasts by type (B2C Retailers, Classifieds), by application (Beauty & Cosmetics, Grocery Shopping, Home Goods & Furniture, Apparel Fittings, Others). PLUS Profiles of Leading B2C E-commerce Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
B2C E-commerce market was valued at US$ xx billion in 2020 and is projected to reach at a market value of US$ xx billion by 2031. Business-to-Consumer (B2C) e-commerce is the online sale of a product & service from a business to an end-consumer. It offers ab inside the store product lines, provide an instant payment options, and real-time product awareness in the market. Moreover, B2C customers usually make smaller orders & quicker buying decisions on the B2B e-commerce platforms. In addition, B2C e-commerce involves transaction through a company website featured with online catalog via e-commerce platforms.
Factors such as major benefits offered by e-commerce platform and surge in adoption of online channel for purchases are driving the market growth. On the contrary, rapid growth in digital dependency & convenience of online shopping and untapped potential in emerging economies are some of the major factors expected to create an immense opportunities to the market in the upcoming years.
COVID-19 Impact on B2C E-commerce Market
In the wake of COVID-19 pandemic which has affected several industrial verticals globally. The B2C e-commerce market has a significant growth in the midst of COVID-19 health crisis. As in order to maintain physical distancing and lower usage of cash, consumers have switched towards online purchases & payments. Therefore, this increased digitalized options are boosting the growth of B2C e-commerce platforms in the market.
Major benefits offered by e-commerce platform
Benefits such as faster buying process, product & price comparison, reduced returns of products, effective purchasing decision ability, among others are propelling the market growth. Therefore, with these major benefits & solutions for end consumers via B2C e-commerce platform is expected to maintain its dominance during the forecast period.
Surge in adoption of online channel for purchases
Consumers in their day-to-day lives are experiencing advance technologies for executing payments and are continuing to adopt online e-commerce channels for shopping. Moreover, as coronavirus pandemic has accelerated the growth of adoption of smartphones & tablets, and other devices for conducting payments and therefore, increased adoption of online channels for purchases are driving the market growth.
Rapid growth in digital dependency & convenience of online shopping
With having huge access to online shopping via smartphones, easier availability of internet, consumers are heavily depending on online shopping. Therefore, continuing dependency on online shopping is expected to provide an immense opportunity to the market in the upcoming years.
Untapped potential in emerging economies
Rising awareness for online B2C e-commerce shopping platforms, growing disposable income, increasing demand for beauty & cosmetics, home goods & furniture, grocery shopping, and others in the emerging economies are expected to boost the growth of B2C e-commerce market in the coming years.
Some of the companies profiled in the report include ALIBABA GROUP HOLDING LIMITED, Aliexpress.com, Amazon.com, Inc., Craigslist, Inc., eBay Inc., Flipkart Internet Private Limited, JD.com, Inc., PayPal Holdings, Inc., Rakuten, Inc, and Walmart.
In December 2020, CEVA Logistics, which is a global logistics & supply chain company has signed a contract with one of the leading companies in the publishing sector, Mondadori Group. In addition, extending partnership with Mondadori Group for another five years and covers a wide range of activities, including warehouse management, transport, order picking for eCommerce and returns.
In November 2020, Tacton, which is a global leader in Smart Commerce solutions for manufacturers has announced a partnership with an e-commerce solution platform provider, Intershop. Moreover, Tacton CPQ will be selling highly customizable product portfolio through an unprecedented enterprise-grade customer portal by offering a 100% self-serve e-commerce experience.
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Factors such as major benefits offered by e-commerce platform and surge in adoption of online channel for purchases are driving the market growth.
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