New York, NY, Aug. 20, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Cross-Border B2C E-Commerce Market By Category (Apparel and Accessories, Entertainment and Education, Consumer Electronics, Home Furnishing, Personal Care and Beauty, Healthcare and Nutrition, Footwear, Food and Beverage, and Others), By Payment Method (Credit/Debit Cards, Digital Wallets, Internet Banking, and Others), By Offering (Assorted Brands and In-House Brands), and By End-User (Teenagers/Millennials, Adults, Senior Citizens, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2027”. According to the report, the global cross-border B2C e-commerce market was USD 562.1 billion in 2018 and is expected to reach around USD 4,856.1 billion by 2027, growing at a CAGR of 27.4% between 2019 and 2027.
The term cross-border e-commerce is nothing but international online trade, in simple words. It entails selling and purchasing of products via online shops across national and international borders. Cross-border e-commerce refers to the online trade between a retailer/business/brand and customer (B2C); it can also take place between two businesses, across two countries.
Browse through 71 Tables & 37 Figures spread over 532 Pages and in-depth TOC on “Global Cross-Border B2C E-Commerce Market Trends 2018: Industry Size, Share, Types, Growth, Segments, Analysis and Forecast, 2018–2027”.
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Trade liberalization has raised the export volume of products and services and made it reach newer and farther markets, for example, the establishment of the China Free Trade Area and the European Free Trade Agreement. Globalization has accelerated the variety and volume of cross-border transactions in products and services via widespread and rapid diffusion of technology. This is the primary factor driving the cross-border B2C e-commerce market globally. Advanced e-commerce technologies deduct administration expenditures and marketing costs, thereby enabling organizations to reach dispersed markets. The fast-paced internet technologies have tremendously boosted the online shopping customer base and expanded the international business market. Therefore, the rising demand for cross border online shopping and various policies are majorly contributing to the cross-border B2C e-commerce market globally.
On the basis of category, the cross-border B2C e-commerce market includes entertainment and education, apparel and accessories, home furnishing, consumer electronics, healthcare and nutrition, personal care and beauty, food and beverage, footwear, and others. The apparel and accessories segment is expected to hold the highest market share, whereas the healthcare and nutrition segment is expected to grow faster in the upcoming years. By payment method, the market includes internet banking, digital wallets, credit/debit cards, and others. The digital wallets segment is projected to hold the highest share and internet banking segment is anticipated to grow significantly over the estimated time period. By offering, the market includes assorted brands and in-house brands. The assorted brands segment is expected to hold the largest market share while the in-house brands segment is projected to grow rapidly in the future. Based on end-user, the market is classified into senior citizens, adults, teenagers/millennials, and others. The adults segment is expected to hold the highest market share and senior citizens segment is expected to grow notably in the years ahead.
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The North American cross-border B2C e-commerce market is anticipated to grow modestly over the forecast time period, owing to improved infrastructure in major countries like the U.S. and Canada. Moreover, significant internet usage and regional inclination toward online payment are other factors contributing to this market. The rising use of smartphones and high internet penetration have expanded the cross-border B2C e-commerce market in the region.
Europe is expected to hold a considerable share of the cross-border B2C e-commerce market globally, owing to the rising number of online buyers. The UK is expected to make notable contributions to the cross-border B2C e-commerce market in Europe in the years ahead. The unavailability of goods domestically has further fuelled the cross-border e-commerce market. The most online traffic is received with Amazon, Alibaba, and eBay while the most preferred product categories are apparels and electronics followed by entertainment.
Browse the full “Cross-Border B2C E-Commerce Market By Category (Apparel and Accessories, Entertainment and Education, Consumer Electronics, Home Furnishing, Personal Care and Beauty, Healthcare and Nutrition, Footwear, Food and Beverage, and Others), By Payment Method (Credit/Debit Cards, Digital Wallets, Internet Banking, and Others), By Offering (Assorted Brands and In-House Brands), and By End-User (Teenagers/Millennials, Adults, Senior Citizens, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2027” Report at https://www.zionmarketresearch.com/report/cross-border-b2c-e-commerce-market
The Asia Pacific holds the third spot in the cross-border B2C e-commerce market globally. Most customers are mainly from China, India, and Japan. Chinese online buyers prefer platforms that are hosted by local providers like Kaola, Tmall Global, and JD Global. Moreover, consumer electronics, clothes, and accessories are the most preferred product categories in the region, owing to the regularly emerging fashion trends. Growing mobile usage is another factor driving this regional market. Moreover, digital buyers in India and China are more likely to use foreign websites via smartphones and tablets instead of desktops.
The Latin American cross-border B2C e-commerce market is still in its emerging stage, owing to the rising adoption of mobile payment options and increasing smartphone penetration. Brazil will show positive growth in the cross-border B2C e-commerce market; Brazilian consumers majorly use mobile devices for gathering any product’s information, such as clothes, electronic devices, and prepared foods.
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The Middle East and Africa is expected to grow due to the rising consumer electronics demand. Electronics, beauty, and grocery are the three main product categories preferred across the Middle East. Consumer electronics is the largest and highly preferred product category led by smartphones, owing to an active phone upgrading culture. The fashion and beauty segment is also witnessing rising demand, due to the growth in consumer confidence in the authenticity of products and the growing popularity of regional influencers.
Some noticeable players in the cross-border B2C e-commerce market are ACES, AirBridgeCargo Airlines, AliExpress.com, Amazon.com, ASOS, BigCommerce, eBay, Eunimart Multichannel, Jagged Peak, JD.com, Pitney Bowes, Tmall, Vipshop, and Zalando.
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This report segments the global cross-border B2C e-commerce market into:
Global Cross-Border B2C E-Commerce Market: By Category
- Apparel and Accessories
- Entertainment and Education
- Consumer Electronics
- Home Furnishing
- Personal Care and Beauty
- Healthcare and Nutrition
- Footwear
- Food and Beverage
- Others
Global Cross-Border B2C E-Commerce Market: By Payment Method
- Credit/Debit Cards
- Digital Wallets
- Internet Banking
- Others
Global Cross-Border B2C E-Commerce Market: By Offering
- Assorted Brands
- In-House Brands
Global Cross-Border B2C E-Commerce Market: By End-User
- Teenagers/Millennials
- Adults
- Senior Citizens
- Others
Global Cross-Border B2C E-Commerce Market: By Region
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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