As stated by our extensive report, providing insights on Type and Application; the GlobalBusiness-to-Consumer (B2C) E-commerce Marketaccounted for3.50 USD Trillionin 2021.
Business to Consumer is an online selling platform where the retailer can sell any type of product directly to the targeted consumers. In this platform, the retailer can sell their product just by creating their own website & posting their product catalog so that users can easily purchase it. The business-to-consumer eCommerce platform provides five popular types of business options such as direct sellers, online intermediaries, advertisement-based, community-based, and fee-based.
Factors such as rising per capita income, enhanced internet penetration, and growing disposable income are expected to augment the growth of Business-to-Consumer (B2C) E-commerce Market in coming years. In addition, rising use of smartphones, growing social framework, increasing digital dependencies, and convenient solution to shopping online in these busy schedules are some other factors that influence the growth of Business-to-Consumer (B2C) E-commerce Market over a projected time period. However, the emergence of fraudulent websites and data security concerns are some factors that impede the growth of Business-to-Consumer (B2C) E-commerce market during the forecast period. On the other side, high technological advancement in the eCommerce industry will create lucrative growth opportunities for Business-to-Consumer (B2C) E-commerce Market in near future.
Since from last few years, online shopping is booming the market. Due to changing lifestyles, many consumers are shifting towards eCommerce platforms. These platform provides various potential benefits such as lower prices, direct communication with buyers, wider reach, increased accessibility, attractive product images, informative product descriptions, no hidden costs, free or flat rate shipping, one-day or two-day delivery, optimized product pages, and deploy the best support. All these potential benefits of B2C eCommerce sites are accounted to flourish the growth of Business-to-Consumer (B2C) E-commerce Market in recent years. In addition to this, various eCommerce sites are started focusing on their strategic growth by providing advanced options to the retailer. For instance, Amazon Inc. is an American multinational technology company, announced a partnership with FICCI, a non-government, not-for-profit organization to enable Indian exporters to expand their product portfolio on an international platform.
Asia Pacific is accounted to mention the fastest growth of Business-to-Consumer (B2C) E-commerce Market during the forecast period. This growth is majorly accounted due to the presence of major world's population in the countries such as India and China and availability of large economic development in this region. In addition, increasing popularity for international brands, increasing web shoppers, changing lifestyle trends, increasing use of social media networks, and growing internet network are some major factors that influence the growth of Business-to-Consumer (B2C) E-commerce Market over projected years in this region.
Some of the prominent players operating in the Global Business-to-Consumer (B2C) E-commerce Market areALIBABA 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..