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Cross-Border B2C E-Commerce Market Segmented: By Category (Entertainment & Education, Apparel & Accessories, Consumer Electronics, Home Furnishing, Personal Care & Beauty, Healthcare & Nutrition, Footwear, Food & Beverage and Others); By Payment Method (Digital Wallets, Credit and Debit Cards, Internet Banking and Others); By Offering (In-house brands and Assorted brands); By End User (Adults, Teenagers, Senior Citizens and Others) and Region-Global Analysis of Market Size, Share & Trends for 2019 - 2020 and Forecasts to 2030
[ 170 + Pages Research Report ] Cross-Border B2C E-Commerce Market to surpass USD 5,143 billion by 2030 from USD 792.5 billion in 2020 at a CAGR of 24.9% in the coming years, i.e., 2021-30.
E-commerce that crosses international borders is known as cross-border e-commerce. It entails the purchase and sale of goods through online stores across national and international borders. The transaction is between a corporation, a store, or a brand and a customer. Cross-border e-commerce is a modern form of international business operation that involves a transaction organization that is shared by two or more countries. It can conduct business using an e-commerce platform and distribute goods using cross-border logistics. It can be inferred from the definition of cross-border e-commerce that it is close to conventional international trade but yet has its own distinct position. It has global, anonymity, immediacy, paperless, and rapid evolution characteristics. In a nutshell, cross-border e-commerce is the introduction of network transactions of foreign trade through the use of e-commerce on an international scale. Cross-border e-commerce, which is based on modern Internet information technology, conducts paperless transactions, breaks downtime and space barriers, and broadens the growth networks of businesses.
Global Cross-Border B2C E-Commerce Market is expected to project a notable CAGR of 24.9% in 2030.
Global Cross-Border B2C E-Commerce Market to surpass USD 5,143 billion by 2030 from USD 792.5 billion in 2020 at a CAGR of 24.9% in the coming years, i.e., 2021-30. This growth is anticipated due to rising social relationships among various countries, increasing mergers and acquisitions across various sectors which will create a worldwide demand for Cross-Border B2C E-Commerce. The growth of online stores is also propelling the selling of high-end products. E-commerce allows the simple purchasing of goods manufactured in remote locations. This, in turn, has made a major contribution to the development of the Global Cross-Border B2C E-Commerce Market industry.
Apparel & Accessories segment to grow with the highest CAGR during 2020-30
Global Cross-Border B2C E-Commerce Market is segmented by category into Entertainment & Education, Apparel & Accessories, Consumer Electronics, Home Furnishing, Personal Care & Beauty, Healthcare & Nutrition, Footwear, Food & Beverage and Others. Apparel & Accessories segment held the largest market share in the year 2020 over the forecast period, owing to the extensive use of cross-border B2C e-commerce in this field.
Digital wallets segment to grow with the highest CAGR during 2020-30
Global Cross-Border B2C E-Commerce Market is segmented by payment method into Digital Wallets, Credit and Debit Cards, Internet Banking, and Others. In the forecast period; the digital wallets payment category is projected to expand at the fastest pace due to maximum utilization.
Assorted brands segment to grow with the highest CAGR during 2020-30
Global Cross-Border B2C E-Commerce Market is segmented by category into offering into In-house brands and Assorted brands. Assorted brands segment held the largest market share in the year 2020 due to high demand.
Lower prices and greater product choice as well as technology diffusion
Lower prices and greater product choice are the key drivers of the online shopping trend from the consumer's viewpoint. Furthermore, as E-Commerce companies and distribution providers develop their logistics capacities, customers will be able to collect their international online orders quicker, reducing some of the major barriers to cross-border shopping. Through the rapid and widespread diffusion of technology, globalization has increased the volume and variety of cross-border transactions in services and goods. The Global Cross-Border B2C E-Commerce Market industry dynamics have been driven by this.
Reduction of administrative costs and expanding international business market
New e-commerce systems reduce marketing as well as administrative costs. This helps businesses to reach out to customers that are geographically scattered which have also boosted the target market. Nonetheless, the international business market is being expanded by fast-paced internet innovations. Over the projected era, this is expected to generate lucrative growth opportunities.
Consumer data and rising production cost
Customer data, on the other hand, belongs to the marketplace, which could serve as a restraint over the forecast period. Rising production costs for the market are having a negative effect on the Global Cross-Border B2C E-Commerce Market industry.
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Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Cross-Border B2C E-Commerce Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.
Global Cross-Border B2C E-Commerce Market in Europe held the largest market share in the year 2020 in terms of revenue. To gain a competitive edge, businesses distinguish their products in terms of offerings, size, content, packaging, and design. Companies are now using digital and social media ads to warn customers of new product releases. The product demand is being driven by a rise in understanding of best suits as use, changes in working millennial' lifestyles, increased income to invest in best available goods and an obsession with maintaining a well-groomed structure. Consumers are likely to spend money on new goods in the near future. To meet a broader customer base, foreign companies are opening stores in the city.
Global Cross-Border B2C E-Commerce Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
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