As stated in our extensive report, providing insights on Product and Procedure the Global Cross-Border B2C E-Commerce Market accounted for USD 793.7 Million in 2021.
Cross border e-commerce refers to a new type of international business activity, which is a transaction entity that belongs to different countries. It can deal through e-commerce platform, and use cross border logistics to distribute commodities. From the meaning of cross-border e-commerce, it is concluded that cross-border e-commerce is similar to the traditional international trade, but also has its own unique place. It has the characteristics of global, anonymity, immediacy, paperless and rapid evolution. In short, cross-border e-commerce is the international application of e-commerce, that is, the implementation of network transactions in foreign trade. Based on the modern Internet information technology, the cross-border e-commerce carries out paperless transactions, breaks through the barriers of time and space, and broadens the development channels of enterprises.
The launch of e-commerce technologies which are advanced in nature and easy availability of secured payment options online & transactions has increased scope of Cross-Border B2C E-Commerce Market. In addition to this, free trade activities & globalization along with favorable Foreign Direct Investment policies adopted by most of the developed as well as emerging nations across the globe will facilitate Cross-Border B2C E-Commerce Market growth in the years ahead.
With the pandemic spreading swiftly across the world and consumers preferring business transactions online, e-commerce industry is witnessing an outstanding growth and is fastest developing retail activity worldwide. Furthermore, pandemic froze every activity whether essential or non-essential in first quarter of the year 2020, but cross-border B2C e-commerce business observed huge growth in the same year. Apparently, in the second quarter it recorded double-digit growth owing to use of e-commerce technologies which are advanced, secured, safe, and supported by high speed of internet. Moreover, e-commerce technologies also augmented swift online transactions. For instance, UPS and PayPal witnessed double-digit development during mid of 2020 in their shipment business cross-border through use of novel and safe ecommerce systems. All these factors are likely to drive the Cross-Border B2C E-Commerce Market growth.
As e-commerce industry is set to become a key channel for doing business activities across several categories such as computers, software, clothing & apparel, books & media, music, home & garden decorations, beauty & cosmetics, sports, toys, and movies, the Cross-Border B2C E-Commerce Market is likely to reach highest verge of growth in coming ten years.
Asia Pacific is expected to dominate the Global Cross-Border B2C E-Commerce Market in 2021 and is likely to continue the same trend during the forecast period. This can be attributed to unique ecosystem for online shopping which is available in nation like China. Apart from this, the region is expected to account for more than 40% of cross-border B2C ecommerce revenues in the coming years, thereby fuelling the value of regional market.
The market is oligopolistic in nature, which means only few market players are occupying a very large portion of share in the market and each player wants to hold maximum share in the market, hence, gaining competitive advantage over its business rivals.
Major players of the Global Cross-Border B2C E-Commerce Market such as Amazon.com Inc., Etsy Inc, eBay Inc, Alibaba Group, Wish Inc, VeePee, Cnova, Asos Plc, Fruugo, JD.com (JingDong), Apple Inc, DHL Group, aCommerce, BoxMe, Paypal, Asia Commerce, SIngPost, Shipping Cart, Anchanto.