The global B2C E-Commerce Market size is anticipated to reach USD 7.65 trillion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 9.7% over the forecast period. The increasing disposable income level, escalating usage of internet and smartphones, and an increasing number of online shoppers are expected to drive the market growth. Online goods and service providers offer various options to their customers, such as vast product portfolio, discounted price rates, convenient payment methods, same-day delivery, and easy return policies while purchasing any goods or services, resulting in growing customer preference toward e-commerce platforms.
The General Agreement on Trade in Services (GATS)
provides the rules and regulations governing international trade in services,
with significant implications for e-commerce. The anti-Spam Law is placed to
protect consumers from receiving unsolicited marketing material. Although
online businesses collect information from consumers, they are legally
prohibited to spam people's inboxes without their consent. Technological
advancement supported by increasing usage of Artificial Intelligence (AI) is
providing customers with a real-time shopping experience. For instance,
Augmented Reality (AR) technology offers customers ‘virtual changing rooms’
wherein customers can try a product virtually.
The rapid evolution of e-commerce has brought numerous
opportunities to both nascent as well as established players in the market.
However, online payment processes have witnessed few challenges in the recent
past. The interconnected and instantaneous nature of online payment channels
has increased vulnerability towards cybercrime, digital frauds, and other
malpractices. To overcome these cybersecurity concerns, it is essential to
emphasize service security and the protection of consumer’s data.
Related Press Release@ B2C E-commerce Market Report
B2C E-commerce Market Report
Highlights
- The market is anticipated to witness substantial growth during the
forecast period, owing to the augmented use of smartphones and the
increasing use of social media, among others
- The clothing and footwear segment accounted for the largest market
share in 2020, owing to increasing penetration of retail sales over online
channels, accessories, and footwear spending
- Asia Pacific dominated the market in terms of revenue in 2020 and
is expected to register significant growth over the forecast period. The
growth is attributed to the presence of a large number of B2C e-commerce
providers in the region
- Partnership, collaboration, and business expansion remain the major
strategies adopted by the leading market players
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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