New York, United States, Sept. 22, 2022 (GLOBE NEWSWIRE) -- E-commerce shopping is another name for home shopping. Direct-to-consumer purchases are made from the comfort of one's home, utilizing goods featured in online or television advertisements. Home shopping has gained popularity in recent years due to the emergence of the Internet and sophisticated supply chains that allow things to be sent directly to customers at an affordable price.
In a nutshell, home shopping refers to purchases made through door-to-door sales, interactive television, the mail, and the phone. Consumers obtain product information at their homes through direct mail campaigns, catalogs, print advertisements, broadcast media, and outbound phone calls. In-home purchases are motivated mainly by convenience; however, impulsiveness and amusement are also factors.
Customers worldwide may find the home purchasing industry appealing, particularly during widespread pandemics like the coronavirus. Additionally, the Internet is gradually becoming a vital tool for companies trying to grow their products in the virtual market because of the tremendous rise in internet users, improved internet connections, and developments in security and encryption. The Internet has dramatically increased consumer reliance on internet shopping and confidence, which has exaggerated industry growth.
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Growing Dependence on the Internet Propels the Home Shopping Market
Due to the rapid advancement of technology, business organizations have switched from the traditional method of selling goods to the electronic method. Online shops can display a massive range of products because there are no physical storefront size limitations. The Internet is the primary method of conducting business. Analytical buyers will find it simpler to purchase a thing after completing some investigation. Therefore, to ensure the security and satisfaction of their customers, online retail websites employ various technologies. Owing to the spread of broadband internet connections and recent advancements in security and encryption, one can now enjoy a pleasant shopping experience from the comfort of their home.
The growing accessibility of the Internet has also helped to increase sales in the home buying sector. The home shopping sector's sales have also been bolstered by the affordability of the Internet and the surge in mobile phone ownership. The development potential for e-commerce in a market is highly associated with the Internet and smartphones in that area since mobile apps have become a significant gateway for client purchases. Offline businesses are now focusing on internet channels to increase their market share.
Report Scope
| Report Metric | Details |
| Market Size | USD 11,207.11 Billion by 2030 |
| CAGR | 17.68 % (2022-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Regions |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
| Key Companies Profiled/Vendors | Amazon.com, Inc, eBay Inc, Walmart, Alibaba Group Holding Limited, TJC, The Home Depot, Apple Inc., Flipkart private limited, and VGL group. |
| Key Market Opportunities | Switch to multi-channel home shopping is potentially opening up new opportunities |
| Key Market Drivers | Rapid Growth in the Technology |
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Regional Insights
Asia-Pacific commands the market and is estimated to grow at a CAGR of 15.52% during the forecast period. The remarkable performance of China is the main factor in the region's supremacy. The country's rapidly expanding online consumer base has allowed for this enormous growth of the e-commerce sector. The introduction of the 4G network in India, powered by a growing smartphone market and rising consumer affluence, is the primary driver of the home shopping industry.
North America holds the second-largest market share and is expected to grow at a CAGR of 19.51%, accounting for USD 559.18 billion by 2030. The US's presence is a crucial factor in North America's expansion. Online commerce is experiencing a boom and is predicted to rise by double digits during the forecasted period. In the North American region, fashion generates more revenue from e-commerce than electronics and gadgets in Costa Rica and Greenland. The millennial population boom in the region is also helping the home shopping sector.
The market for online purchasing is moderate in Europe. The UK primarily drives the expansion of this region. Home shopping businesses employ a variety of sales channels outside television to market their products, including retail locations, catalogs, customer magazines, websites, social media platforms, mobile and smart TV apps, and many more. Furthermore, in Sweden, IT literacy is vital. Therefore, buyers prefer e-speed, effortless commerce, and the ability to compare costs. Current teleshopping clients will likely switch to e-commerce channels as the less tech-savvy population matures or is exposed to online shopping.
Key Highlights
- The global home shopping market size accounted for USD 3,047 billion in 2021. It is expected to reach USD 11,207.11 billion by 2030, growing at a CAGR of 17.68% during the forecast period (2022–2030).
- By type, the global home shopping market is classified into Teleshopping, E-Commerce, and Others. The E-Commerce segment owns the largest market share and is anticipated to grow at a CAGR of 18.34% during the forecast period.
- North America holds the second-largest market share and is expected to grow at a CAGR of 19.51%, accounting for USD 559.18 billion by 2030.
The major market players are
- Amazon.com Inc
- eBay Inc
- Walmart
- Alibaba Group Holding Limited
- TJC
- The Home Depot
- Apple Inc.
- Flipkart private limited
- VGL group
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Global Home Shopping Market: Segmentation
By Type
- Teleshopping
- E-commerce
- Others
By Regions
- North America
- Europe
- Asia-Pacific
- South America
- The Middle East and Africa
TABLE OF CONTENT
- Introduction
- Market Definition
- Market Scope
- Research Methodology
- Primary Research
- Research Methodology
- Assumptions & Exclusions
- Secondary Data Sources
- Market Overview
- Report Segmentation & Scope
- Value Chain Analysis: Home Shopping Market
- Key Market Trends
- Drivers
- Restraints
- Opportunities
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitution
- Threat of New Entrants
- Competitive Rivalry
- Market Share Analysis
- Type Overview
- Introduction
- Market Size & Forecast
- Teleshopping
- Market Size & Forecast
- E-commerce
- Market Size & Forecast
- Introduction
- Overview
- Introduction
- Market Size & Forecast
-
- Market Size & Forecast
-
- Market Size & Forecast
- Introduction
- Regional Overview
- Introduction
- Market Size & Forecast
- America
- North America
- U.S.
- By Type
- Canada
- By Type
- Mexico
- By Type
- Latin America
- By Type
- Europe
- Market Size & Forecast
- Germany
- By Type
- France
- By Type
- U.K.
- By Type
- Italy
- By Type
- Spain
- By Type
- Rest of Europe
- By Type
- Asia Pacific
- Market Size & Forecast
- Japan
- By Type
- China
- By Type
- Australia
- By Type
- India
- By Type
- South Korea
- By Type
- Rest of Asia-Pacific
- By Type
- Middle East & Africa
- Market Size & Forecast
- Saudi Arabia
- By Type
- South Africa
- By Type
- Kuwait
- By Type
- Rest of Middle East & Africa
- By Type
- Introduction
- Company Profile
- Amazon.com
- Company Overview
- Financial Performance
- Recent Developments
- Product Portfolio
- eBay Inc
- Company Overview
- Financial Performance
- Recent Developments
- Product Portfolio
- Walmart
- Company Overview
- Financial Performance
- Recent Developments
- Product Portfolio
- Amazon.com
- Conclusion & Recommendation
- Acronyms & Abbreviations
Table of Content and Figure @ https://straitsresearch.com/report/home-shopping-market/toc
Market News
- In August 2022, Walmart announced the acquisition of Volt Systems to enhance retail analytics and decision-making.
- In July 2022, The Walmart Restored section of Walmart.com will assist customers in securing purchases of refurbished goods.
- In July 2022, eBay Inc. (Nasdaq: EBAY) launched fine Jewelry authentication.
- In June 2022, eBay acquired the renowned NFT marketplace KnownOrigin.
- In April 2022, Flipkart announced the formation of the Flipkart Foundation, which would support environmental responsibility, entrepreneurship, skill development, community development, and increased market access for underserved communities in India.
News Media
Global Home Insurance Market Worth USD 237.7 Billion By 2030
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