Description
Countries Covered: Argentina, Australia, Austria, Bahrain, Belgium, Brazil, Canada, Chile, China, Colombia, Denmark, Dominican Republic, Egypt, Ethiopia, Finland, France, Germany, Ghana, Hong Kong, Hungary, India, Indonesia, Iran, Israel, Italy, Japan, Jordan, Kenya, Kuwait, Lebanon, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Oman, Peru, Philippines, Poland, Qatar, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sri Lanka, Sweden, Switzerland, Taiwan, Thailand, Turkey, UK, United Arab Emirates (UAE), USA, Vietnam
Pages: 955
Publication Date: 02.07.2024
Questions Covered:
- What innovations in digital payments are enhancing global consumer convenience and security?
- What is the projected non-cash transaction volume in the Asia-Pacific region by 2027?
- What role do digital wallets and BNPL options play in the financial management of consumers in Latin America?
- What is the expected value of the B2C E-Commerce market in China by 2027?
- What are the growth trends in North America’s B2C E-Commerce market?
Key Findings:
Globally, the B2C E-Commerce market is forecasted to reach over EUR 7 trillion by 2026: Insights by yStats.com
Explosive Growth in the Global B2C E-Commerce Market
The global B2C E-Commerce market is undergoing rapid expansion, driven primarily by significant growth in the Asia-Pacific region. The market is set to continue its robust growth trajectory, fueled by technological advancements and increasing consumer trust in digital transactions. The report highlights that the total non-cash transaction volume in Asia-Pacific is projected to reach over 1 trillion by 2027. This growth is indicative of the broader global trend towards digital commerce and innovative payment solutions.
Asia-Pacific Dominates E-Commerce with China and India at the Helm
Asia-Pacific stands at the forefront of the global B2C E-Commerce market, with China and India leading the charge. The region is characterized by high internet and smartphone penetration, a tech-savvy population, and significant advancements in mobile commerce and AI-driven shopping experiences. The report projects that by 2027, the B2C E-Commerce market in China will surpass EUR 3 trillion. Additionally, livestreaming retail and social commerce sales in the region are expected to grow substantially, showcasing the dynamic nature of Asia-Pacific’s digital economy.
Cutting-Edge Digital Payments Fuel E-Commerce Surge
The evolution of digital payments is a critical factor driving the growth of global B2C E-Commerce. Mobile wallets, Buy Now Pay Later (BNPL) options, and real-time payments are gaining prominence, enhancing consumer convenience and security. The report emphasizes the increasing adoption of in-car payments in the Asia-Pacific region, with countries like China and Australia embracing this innovative payment method. By 2025, the market size of intelligent connected car application services in China is forecasted to surpass EUR 30 billion, demonstrating the potential of in-car payments to revolutionize the payment landscape.
Regional E-Commerce Insights North America and Europe
North America’s B2C E-Commerce market remains robust, driven by high consumer spending and advanced digital payment solutions. The U.S. market is particularly dynamic, with a strong emphasis on omnichannel retailing and innovations like digital wallets and real-time payments. Meanwhile, Europe’s B2C E-Commerce market is characterized by high adoption rates of online shopping and advanced digital payment infrastructures. The region benefits from a supportive regulatory framework that facilitates seamless cross-border transactions, driving a thriving e-commerce environment.
Latin America’s E-Commerce Growth and Middle East & Africa’s Expansion
In Latin America, despite economic challenges, significant growth in online shopping activities is supported by increased internet access and smartphone usage. Digital wallets and BNPL options are becoming popular, helping consumers manage their finances more effectively. In contrast, the B2C E-Commerce market in the Middle East and Africa is expanding rapidly, driven by a young, tech-savvy population and increasing mobile connectivity. Innovations in digital payments and enhanced logistics infrastructure are key drivers of this growth.
1. Key Takeaways
2. Management Summary
3. Global
- B2C E-Commerce Market Size, in USD trillion, 2021-2026f
- B2C E-Commerce Market Size, in USD trillion, 2023e & 2026f
- B2C E-Commerce Market Size, in USD trillion, 2022 & 2027f*
- B2C E-Commerce Sales Value, in USD trillion, 2023f* & 2025f
- Breakdown of Payment Method Types Used in B2C E-Commerce, in %, 2023e
- Share of Online Shoppers Who Purchase From B2C E-Commerce Platforms at Least Several Times a Month, by Region, in % of Online Shoppers, November 2023
- Share of Social Media Users Who Purchase From Social Media Platforms at Least Several Times a Month, by Region, in % of Social Media Users, November 2023
- Trust in Different Shopping Platforms, by Region, in % of Online Shoppers, November 2023
- Trust in Different Social Media Back-End Processes, by Region, in % of E-Sellers, November 2023
- Number of New Shoppers, incl. “Online”, by Region, in millions, 2030f
4.0. Asia-Pacific
4.1. Regional
4.1.1. Regional Trends
- Total Non-Cash Transaction Volume, in trillions, 2024f & 2027f
- B2B E-Commerce Non-Cash Transaction Volume, in billions, 2024f & 2027f
- Livestreaming Retail E-Commerce Sales, in USD billion, in % of Year-On-Year Change, 2023e-2027f
- Social Commerce Sales, in USD billion, in % of Year-On-Year Change, 2023e-2027f
- Breakdown of Retail E-Commerce Market, by Country, in %, 2022
- Top 10 Retailers, incl. “Online Retailers”, by Retail Sales Value, in USD billion, 2022
4.1.2. Southeast Asia Regional
- TikTok Shop Market Overview, February 2024
- Digital Economy Value, in USD trillion, 2022 & 2030f
- B2C E-Commerce Sales, in USD billion, in % of Year-On-Year Change, 2022-2026f
- B2C E-Commerce Spending, by Payment Method, in USD billion, 2022 & 2027f
- B2C E-Commerce Sales Penetration, by Country, in % of Total Retail Sales, 2023e
- Breakdown of B2C E-Commerce Market Value, by Operators, in %, 2022
- Top Product Categories Purchased on Online B2C E-Commerce Site Zalora Using BNPL, in % of BNPL Payments, Q3 2022
- Breakdown of Payments Used on Online B2C E-Commerce Site Zalora, by Age Group, in % of Online Shoppers, Q3 2022
4.1.3. SEA, South Korea & Japan
- Total B2C E-Commerce Revenue, in USD billion, 2022 & 2027f
- Total Cross-Border Revenue, in USD billion, 2022 & 2027f
- Digital Economy Value, by Payment Method, in USD billion, 2022 & 2027f
4.2. Asia-Pacific Digital Commerce Overview
4.2.1. B2C E-Commerce
4.2.1.1. China
- Overview of B2C E-Commerce Market Trends, February 2024
- Total B2C E-Commerce Market Value, in USD trillion, 2023e & 2027f
- B2C E-Commerce Sales, in USD trillion, in % of Total Retail Sales, 2023e-2027f
- Year-On-Year Growth of B2C E-Commerce Sales, in %, 2022 & 2023e
- Share of Online Retail Sales of Physical Goods Making Up Total Retail Sales of Physical Goods, in %, 2023
- Online Retail Sales Value, in CNY trillion, 2022 & 2023
- Total vs Online Retail Sales Value, in CNY trillion, H1 2022 & H1 2023
- Cross-Border B2C E-Commerce Import And Export Value, in CNY trillion, H1 2022 & H1 2023
- Number of People Working in the B2C E-Commerce Sector, in millions, 2018 & 2023
- Number of Online Shoppers, in millions, And Share of Internet Users, in %, June 2021-June 2023
- Growth of Online Retail Sales of Physical Goods, by Product Category, in % of Year-On-Year Change, 2023
- Top 3 Domestic B2C E-Commerce Platforms, in % of Total B2C E-Commerce Market, 2023e
- Online Retail Sales Value in Rural Areas, in CNY trillion, H1 2022 & H1 2023
- Online Retail Sales Value of Agricultural Products, in CNY billion, H1 2022 & H1 2023
- Share of Rural Online Merchants And Online Stores That Sell Agricultural Products Through Livestreaming, in %, H1 2023
- Livestreaming Retail E-Commerce Buyers, in millions, in % of Year-On-Year Change, 2023e-2026f
- Number of B2C E-Commerce Livestreaming Users, in millions, December 2022 & June 2023
- Social Commerce Market Overview, February 2024
- Overview of Discount B2C E-Commerce Market, February 2024
4.2.1.2. Japan
- B2C E-Commerce Spending, by Payment Method, in USD billion, 2022 & 2027f
- Top 5 QR Code Mobile Payment Services, in % of QR Code Mobile Payment Users, January 2023
4.2.1.3. South Korea
- B2C E-Commerce Payment Value, in USD trillion, 2022 & 2026f
- B2C E-Commerce Spending, by Payment Method, in USD billion, 2022 & 2027f
4.2.1.4. India
- B2C E-Commerce Market Size, in USD billion, 2022e, 2024f, 2026f & 2030f
- B2C E-Commerce Market Size, in USD billion, in % of Total Retail Market*, FY 2020-FY 2023
- Annual Number of Online Shoppers, in millions, in % of Year-on-Year Change, FY 2021-FY 2023
- Average Monthly Number of Online Shoppers, in millions, in % of Annual Online Shoppers, FY 2021-FY 2023
- Card Payment Value, in USD billion, 2023e & 2027f
- Number of Digital Payment Transactions, in billions, FY 2022-23 & FY 2026-27f
- Value of Digital Payment Transactions, in INR trillion, FY 2022-23 & FY 2026-27f
4.2.1.5. Australia
- Breakdown of BNPL Revenue, by Age, in % of BNPL Users, February 2023
4.2.1.6. Indonesia
- B2C E-Commerce Market Value, in USD billion, 2023 & 2028f
- Breakdown of B2C E-Commerce Market Value, by Operators, in %, 2022
- Payment Methods Used For B2C E-Commerce Transactions, in % of Shoppers, 2022
4.2.1.7. Taiwan
- B2C E-Commerce Payments Value, in USD billion, 2022 & 2026f
- Breakdown of Most Preferred Online Payment Methods, in % of Internet Users, Q3 2022
*The rest of the Table of Contents can be found in the full report.
