In a new report titled “Asia-Pacific B2C E-Commerce Market 2023,” leading research firm yStats.com, based in Hamburg, shares insights into the B2C E-Commerce market development, latest trends, and forecasts worldwide, focusing on the Asia-Pacific region, including the projected future market developments.
Asia-Pacific emerges as a driving force in B2C E-Commerce
The B2C E-Commerce market has witnessed remarkable growth worldwide, particularly during the pandemic years, as online shopping adoption surged. According to yStats.com’s report, this exceptional growth peaked during the pandemic but later subsided, leading to single-digit percentage sales growth in 2022. Nevertheless, the B2C E-Commerce market’s upward trajectory is set to continue, albeit at a moderated annual growth rate projected to remain in single digits by 2026. While developed markets like the U.S. and Europe are expected to experience slower growth in the B2C E-commerce sector, Southeast Asia’s retail E-commerce sales are anticipated to maintain a double-digit CAGR from 2022 to 2026, reaching over EUR 170 billion by 2026. In 2022, the Asia-Pacific region exhibited the highest B2C E-commerce sales value, surpassing North America and Western Europe. Additionally, Asia-Pacific accounted for nearly half of the global B2C E-commerce sales value in 2022, with North America comprising around one-third and Western Europe constituting one-tenth of the global sales value. Moreover, it is projected that by 2025, China’s B2C E-commerce sales value will approach USD 1 trillion, significantly overshadowing the figures for the U.S. and Europe.
Australia’s B2C E-Commerce market is projected to grow significantly by 2027
Within the Asia-Pacific region, Australia stands out as a pivotal player in the B2C E-Commerce landscape. The report highlights that the B2C E-Commerce market in Australia is forecasted to achieve substantial growth, reaching more than EUR 60 billion by 2027. This steady growth trajectory underscores Australia’s position as a vibrant and evolving market within the global E-Commerce ecosystem. As digitalization accelerates and consumer behaviors shift, Australia’s B2C E-Commerce market is expected to embrace innovative technologies, such as augmented reality, AI-driven recommendation engines, and seamless social commerce experiences. These advancements promise to reshape the shopping journey, offering heightened personalization and convenience to consumers while presenting new opportunities for businesses to thrive.
