Description
Countries Covered: China, India, Japan, US, Canada, UK, Germany, France, Italy, Spain, Netherlands, Sweden, Switzerland, Poland, Austria, Norway, Denmark, Belgium, Finland, Turkey, Brazil, Mexico, Saudi Arabia, UAE, Israel, Qatar, Kuwait, Jordan, Bahrain, Oman, South Africa, Kenya.
Pages: 156
Publication Date: 12.07.2024
Questions Covered in the Report:
- How are regional leaders in the B2C E-Commerce markets optimizing their strategies?
- What percentage of US online retailers believe AI-driven personalization will significantly impact their business in 2024?
- What strategic initiatives is Amazon implementing to strengthen its market position?
- Which mobile shopping apps are leading in the Middle East app store rankings?
- How is SHEIN planning to strengthen its position in the B2C E-Commerce market in Asia-Pacific?
Key Findings:
Global B2C E-Commerce Market Expands with Amazon Leading and Major Players Aggressively Growing
The global B2C E-Commerce market continues to expand, with Amazon leading the charge. As of May 2024, Amazon.com captured over 10% of the total traffic share among global B2C E-Commerce marketplaces, outpacing competitors like eBay, AliExpress and Temu. Regional leaders such as Alibaba in the Asia-Pacific, Mercado Libre in Latin America, and Jumia in Africa also demonstrate robust market performances. Major E-Commerce players are aggressively expanding to maintain a competitive edge. Amazon’s initiatives in the UK and TikTok Shop’s expansion in Southeast Asia are notable examples.
Technological Innovations and Trends in AI and Mobile Shopping Transform E-Commerce
AI-driven personalization and the rise of mobile shopping are transforming the E-Commerce landscape. In the US, over 70% of online retailers expect AI technologies, including generative AI, to significantly influence their operations in 2024. Mobile shopping apps like Temu and SHEIN are rapidly gaining popularity in the Middle East, highlighting the need for E-Commerce platforms to optimize their mobile user experience.
Regional E-Commerce Leaders Showcase Growth
In China, the domestic B2C E-Commerce platforms “Taobao and Tmall” held a market share of over 50% of the total B2C E-Commerce market, as estimated in 2023. The region’s focus on integrating AI and enhancing mobile shopping experiences is notable. In Latin America, Mercado Libre leads with substantial sales growth and user engagement. In the Middle East, Amazon.sa tops the market in Saudi Arabia, emphasizing mobile shopping and diverse product offerings to cater to local consumer needs. In Africa, Jumia is the leading E-Commerce platform, with significant traffic from key markets like Nigeria, Morocco, and Egypt, highlighting the importance of localized strategies.
