The global B2C e-commerce market is expected to grow on account of increasing per capita internet usage and evolution of online e-commerce platforms as market places for customers. Business to consumer or B2C is a commercial transaction in which business sells its services or products to its end users or customers. To make such transaction quicker e-commerce model is used which is an electronic mode in which B2C is carried.
Over the recent past, there has been a tremendous growth in the sector with retail and food delivery being the frontrunners in terms of investments and revenue generation. Their growth can be attributable to the dynamics of consumer behavior and the fast pace of sales in these sectors compared to furniture and services. This trend is expected remain same in the future thus supporting B2C e-commerce market growth.
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Intercontinental trade and high penetration of mobile phones as the preferred devices for connecting with internet has increased the traffic for e-commerce platforms. There is trend in consumer behavior who are preferring to buy goods online rather than through stores as they enable for convenient and customer oriented product delivery options. Such trend shall positively impact industry dynamics.
M-commerce generates revenue primarily through smart phones and tablets and it is projected to capture more than half of the overall market share over the forecast horizon. The key leaders in the B2C e-commerce market over the past years are mostly U.S merchants such as Amazon, e-Bay, BestBuy and Wal-Mart.
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Other than retail segment, online taxi services, food delivery and rental services are expected to register considerable gains in the industry. With most transactions taking place online, services which were generally hailed or made use of through conventional commerce places are now being utilized through mobile application or websites. Therefore, segments other than retail shall grow at an above average rate over the forecast period.
North America and Europe are major regions for the industry and are characterized by high internet penetration rates and presence of a huge online customer base for e-commerce companies. In contrast to Europe, North America has a well-established network of retailers moving towards online platforms while Europe has presence of multinational online companies catering to customers all over the continent.
In Europe, France and Germany are the leading markets with Russia expected to register highest growth. Consumerism in Russia is largely driven by high penetration of China-based e-commerce companies. Retail is expected to the most widely used platform in Eastern Europe and is driven by increasing disposable income and bettering internet connectivity.
Italy’s, m-commerce’s share of total online retail sales is expected to more than double in the next five years. European B2C e-commerce competitive landscape features both international and local companies. Key companies in Europe include Zalando, Bonprix, Asos and Wildberries.
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