Growing Preference for Seamless & Secure International Shopping Experiences Drives the Cross-border B2C E-Commerce Market

New York, USA, Aug. 21, 2023 (GLOBE NEWSWIRE) -- Cross border B2C E-Commerce Market Overview

According to a Comprehensive Report by MRFR/Market Research Future (MRFR),” Global Cross-border B2C E-Commerce Market by Category, by End User, by Offering, by Payment Method and By Region – Market Forecast Till 2032”. The global cross-border B2C e-commerce market is likely to witness significant traction over the next few years. The growing reliance on technology for online shopping would drive market growth. According to Market Research Future (MRFR), the global cross-border B2C e-commerce market value is poised to escalate from USD 750.1 BN in 2022 to USD 6585.3 BN by 2032, registering a 27.30% CAGR throughout the estimated period (2023-2032). 

Over the past few years, the cross-border e-commerce business model has significantly supported the global economy. With the worldwide digital revolution, cross-border trade has allowed various business channels to transform and evolve. Online sales and demand for cross-border business-to-consumer (B2C) e-commerce platforms have surged exclusively. 

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Cross-border B2C E-Commerce Market Key Players –

• BoxMe, Pinduoduo
• Alibaba Group
• DHL Grou
• Joo
• JD.com (JingDong)
• Paypal, Shein
• Fruugo
• Anchanto.

This has brought a see-change in relevant digital economy skills such as product selection & preparation, overseas market & consumer research, digital brand building & tools, performance optimization, cross-border logistics, and more. Cross-border B2C e-commerce has opened new markets for businesses, especially small and medium-sized businesses, by helping them lower costs.

At the same time, a cross-border B2C e-commerce business model allows consumers more options to choose from and deals beyond their borders where tariffs don't apply. The significant rise in the e-commerce sector and economic growth worldwide, alongside the pervasiveness of mobile and internet use, boosts the global cross-border B2C e-commerce market size. 

Scope of the Report – Cross-border B2C E-Commerce Market:

Report Metrics	Details
Market Size by 2032	USD 6585.3 Billion
CAGR during 2023-2032	27.30%
Base Year	2022
Forecast	2023-2032
Key Market Opportunities	The expansion of numerous digital wallet companies
Key Market Dynamics	The increasing young metropolitan population and its reliance on technology for online shopping through e-commerce and the rising internet and smartphone perforation

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Cross border B2C E-Commerce Industry Trends

Globalization has opened up new opportunities for cross-border trade and businesses to expand their reach to consumers worldwide. Through cross-border B2C e-commerce platforms, businesses can tap into international markets to expand their customer base beyond domestic borders. Moreover, recent technological advancements have transformed the cross-border B2C e-commerce market dynamics, leading to increased competition and opportunities for growth. 

Advancements in mobile devices & internet connectivity, digital payment systems, and artificial intelligence & big data analytics have changed how businesses conduct cross-border transactions and engage with international customers. Besides, the rapid surge in online shopping and the increasing preference for convenient shopping models that provide consumers access to diverse products have boosted cross-border B2C e-commerce market revenues. 

Consumers increasingly seek seamless and secure international shopping experiences. Businesses strive to offer multiple payment options that can support various currencies and provide reliable shipping & delivery services to gain consumers' trust. The availability of secure and efficient payment gateways and logistics solutions further substantiates the cross-border B2C e-commerce market share. 

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Cross border B2C E-Commerce Segmentation

The cross-border B2C e-commerce market is segmented into categories, end-users, offerings, payment methods, and regions. The category segment is sub-segmented into by category (apparel & accessories, personal care & beauty, entertainment & education, healthcare & nutrition, food & beverage, and others. The end-user segment is sub-segmented into adults, teenagers/millennials, senior citizens, and others. 

The offering segment is sub-segmented into assorted brands and in-house brands. The payment method segment is sub-segmented into digital wallets, internet banking, and credit/debit cards. By regions, the cross-border B2C e-commerce market is sub-segmented into the Asia-Pacific, MEA, Americas, Europe, and the rest of the world.

Regional Analysis 

North America dominates the global cross-border B2C e-commerce market, witnessing the large presence of notable market participants. Retailers in this region embrace new initiatives and invest significantly to obtain a competitive advantage in their respective business sectors. In 2022 the region accounted for 45.80% of the overall market share. Rising consumer demand for economical and excellent-quality products drives online sales in the US and Canada. 

Europe is another major market for e-commerce platforms offering greater flexibility and customized features. Moreover, increasing online sales of vehicles and automotive components boost the cross-border B2C e-commerce market growth. The growing consumer inclination towards purchases from international markets where low-cost components and a wider range of products or brands are available fosters the cross-border B2C e-commerce market size.  

Competitive Analysis

The cross-border B2C e-commerce market witnesses significant strategic initiatives, such as collaboration, mergers & acquisitions, expansion, and technology launches. Industry players invest substantially to drive research and development activities and expansion plans. Technology providers provide end-to-end tools needed to build a website, accept orders, track inventory, process payments, manage to ship, market the brand, and analyze data.

For instance, on Feb. 24, 2023, Joom, a Lisbon-headquartered firm, launched a platform for SMEs in eight Indian cities, including Mumbai, Jaipur, Indore, Ludhiana, Roorkie, Surat, and New Delhi. The platform will help Indian exporters and SMEs gain access to European markets. The European e-commerce marketplace has begun operations in India, and its merchants' registration is growing, escalating its sales by 50% every month. 

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Joom has onboarded 350+ merchants leveraging tech and tapping into the e-commerce boom. India's logistics players are democratizing cross-border commerce and expanding their market horizons. Therefore, Jhoom expects India to be one of its top 2 strategic markets globally by the end of 2023. Joom's new platform will enable Indian exporters and SMEs to gain easy access to European and Commonwealth of Independent States (CIS) markets. 

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