Hamburg, Germany – April 26, 2024 – Today, yStats.com, a provider of cutting-edge market intelligence solutions, showcases its latest market report titled “USA B2C E-Commerce & Online Payments Market 2024“. This report emphasizes significant trends and insights within the fast-growing adoption in several areas such as B2C E-Commerce Market, Online Payment Innovations, and Financial Services sectors in the United States. The publication highlights the reshaping of consumer behaviors and market dynamics in these areas.
The Transformative Landscape of B2C E-Commerce in the United States
The landscape of B2C E-Commerce in the United States is undergoing a transformative revolution, fueled by groundbreaking technological innovations and evolving consumer behaviors. With advancements in AI, AR, and blockchain, the U.S. retail E-Commerce sales are experiencing unprecedented growth, projected to exceed EUR 1.5 trillion by 2027. This exponential growth is attributed to the pivotal role played by the U.S. market in driving global B2C E-Commerce sales.
The rise of technology is revolutionizing the online shopping experience, enhancing shopper engagement. These technological advancements are reshaping the ways consumers interact with brands and make purchasing decisions. Moreover, companies are embracing eco-friendly practices amidst this growth trajectory, thereby shaping consumer trust and market practices. In this dynamic landscape, Amazon continues to dominate the B2C E-Commerce market, with an estimated triple-digit EUR billion in sales by 2025. Other major players such as eBay and Walmart are also making significant strides, each carving out their own niche in the marketplace through consumer-centric strategies and innovative offerings.
Trends and Transformations in Embedded Finance and Online Transactions
The payment landscape is witnessing a profound transformation with the emergence of embedded finance, expected to experience double-digit growth in EUR by 2026, as mentioned in the new yStats.com report. Additionally, online payment methods continue to evolve, with traditional options like credit cards and debit cards experiencing substantial growth alongside newer platforms like PayPal, reflecting consumers’ stable preferences despite the influx of innovative technologies, as mentioned in the latest yStats.com report.
In April 2023, more than half of U.S. shoppers used smartphones to pay at stores, mostly with Apple Pay or Google Pay. Nearly half were open to using their phones for self-checkout but worried about privacy. The burgeoning trend of BNPL transactions in the U.S. is forecasted to skyrocket, with transaction values expected to reach over EUR 130 billion by 2026. Notably, the younger demographic segments, particularly Gen Z and Millennials, are leading the charge in BNPL adoption.
