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In 2022, the cross-border B2C e-commerce market was estimated to be worth USD 750.1 billion. The Cross-border B2C E-commerce Payment Method market is expected to expand at a compound annual growth rate (CAGR) of 27.30% between 2023 and 2032, from USD 954.9 billion in 2023 to USD 6585.3 billion. The main factors propelling the market development are the influx of young people into cities, their reliance on technology for online shopping, and the widespread use of smartphones and the internet.
The industry’s rise is mostly due to the reliance of the younger, urban population on e-commerce and technology for online purchases. Given that most millennials make purchases via their smartphones and tablets, it is also expected that the growing internet and smartphone markets will witness growth.
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Key Companies in the Cross-border B2C E-commerce market include:
Due to social media’s influence on consumer buying behaviours, customers are choosing to make purchases online more and more, which is helping the firm grow even more. It is anticipated that the lack of items in local markets would help cross-border B2C e-commerce companies by providing customers with better products at more affordable costs.
International business-to-consumer e-commerce is built on internet information technology. Consequently, it reduces obstacles caused by interruptions, streamlines paperless transactions, and opens up the network to expanding enterprises. Many businesses are focusing on international expansion since e-commerce transactions are more profitable and involve reduced expenses. Increased international trade as well as growing company mergers and acquisitions for expansion are predicted to lead to profitable market possibilities.
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Segmentation
The categories used to segment the cross-border B2C e-commerce market are: Food and Beverage, Personal Care and Beauty, Entertainment and Education, Healthcare and Nutrition, and Apparel and Accessories. In 2022, the worldwide market was led by the apparel and accessory category.
The End User segmentation of the Cross-Border B2C E-commerce Market comprises Adults, Teenagers/Millennials, Senior Citizens, and Others. In 2022, the cross-border B2C e-commerce market was led by the adults group.
Based on Offering, the Cross-Border B2C E-commerce Market is segmented into Assorted Brands and In-House Brands. In 2022, the cross-border B2C e-commerce market was led by the assortment of brands category.
Based on Payment Method, the Cross-Border B2C E-Commerce Market is segmented into Digital Wallets, Internet Banking, Credit/Debit Cards, and Others. In 2022, the credit/debit card market had a dominant position worldwide.
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The report offers market information for North America, Europe, Asia-Pacific, and the rest of the world, broken down by region. In 2022, the cross-border business-to-consumer e-commerce market in North America held a 45.80% market share. The growing demand from customers for items that are affordable and of superior quality is the cause of this growth. Additionally, by enabling consumers to purchase items at fair rates, this area’s high Price Level Index (PLI) promotes the expansion of the local market. For example, China’s PLI is 59, but the U.S.’s is 113, meaning that local consumers may purchase goods at a lower cost. Additionally, the cross-border B2C e-commerce market in the United States had the most market share, while the cross-border B2C e-commerce industry in Canada had the highest rate of growth in North America.
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