The latest market report published by Credence Research, Inc. “Global Cross-Border B2C E-Commerce Market: Growth, Future Prospects, and Competitive Analysis, 2017 – 2030”. The global cross-border B2C e-commerce market generated around USD 789.1 billion in 2022 and is anticipated to grow a CAGR of over 25.70% during the forecast period from 2023 to 2030 to reach around USD 3912.72 billion in 2030.
Growing demand for multinational trade and police influence market development. Cross-border e-commerce media give small and medium-sized businesses (SMEs) access to a domestic and global customer base, which delivers growth opportunities. Due to the popularity of social media applications, a broad range of marketing options are now available, assisting in the growth of the international B2C e-commerce industry. The growing importance of internet marketing tools like Google and Facebook advertisements boosts the growth. Increasing Payment fraud, consumer data, and production costs hamper the market growth.
The global cross-border B2C e-commerce market is bifurcated into Categories, End Users, Offerings, Payment Methods and Geography. Based on category, the market is categorized into apparel and accessories, personal care and beauty, entertainment and education, healthcare and nutrition, food and beverage, and others. On the basis of end users, the global market is segmented into adults, teenagers/millennials, senior citizens, and others. On the basis of offering, the global market is segmented into assorted and in-house brands. On the basis of payment methods, the global market is segmented into digital wallets, internet banking, others, and credit/debit cards. Based on geography, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
In 2021, North America dominated the global cross-border B2C e-commerce market and accounted for a major market revenue share in value. The growing competition in market players and emerging new market players are increasing the market demand also, the high price level in North America contributes to market growth and allows customers to shop at affordable rates, which will highly impact the cross-border B2C e-commerce market.
Cross-Border B2C E-Commerce is one of the fastest growing sectors in the ecommerce industry. The main drivers for this growth are the ever increasing number of internet users and the rising purchasing power of consumers. In addition, the availability of a wide range of products and services online and the ease of cross-border transactions have also contributed to the growth of this sector.
The key drivers for the growth of cross-border B2C ecommerce are:
1) Increasing Number of Internet Users: The number of internet users has been constantly increasing over the past few years. This is due to the fact that more and more people are getting access to high-speed internet connections. As a result, they are able to browse and shop online with ease.
2) Rising Purchasing Power of Consumers: The purchasing power of consumers has also been on the rise in recent years. This is due to factors such as inflation, rise in income levels and increase in disposable incomes. As a result, consumers are able to spend more on items that they desire, including items that are available online.
Why Buy This Report-
· The report provides a qualitative and quantitative analysis of the global cross-border B2C e-commerce market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2017-2021, base year- 2022, and forecast period 2023-2030.
· The report contains information related to the competitive landscape, like how the key players in the market are operating at a global, regional, and country level.
· In-depth analysis of the global cross-border B2C e-commerce market segmentation based on category, end-use, offering and payment method.
· The global cross-border B2C e-commerce market report also includes analyzing the global, regional, and country levels, key market trends, significant players’ analysis, market growth strategies, and key application areas.
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