According to PayNXT360’s, global B2C Ecommerce industry is expected to grow by 7.80% on annual basis to reach US$6,985.5 billion in 2023. The Medium to long-term growth story of global B2C Ecommerce industry promises to be attractive . The B2C Ecommerce is expected to grow steadily over the forecast period, recording a CAGR of 6.64% during 2023-2027. Globally, B2C Ecommerce Gross Merchandise Value will increase from US$6,479.9 billion in 2022 to reach US$9,034.9 billion by 2027.

Ever since the pandemic outbreak, the global B2C e-commerce industry has recorded strong growth, amid the rapid adoption and acceptance of digitization across all segments. The outbreak has changed the way consumers interact and engages in online shopping and retailers and marketplaces are responding to the shift in consumer behavior with personalized shopping experiences.

Across markets, the industry is projected to record strong growth in order volume and transaction value. Investment in virtual shopping experiences is projected to increase over the next three to four years, as metaverse gains more popularity among shoppers globally. For brands and marketplaces to remain competitive, players must identify new opportunities and constantly evolve with the latest emerging trends in the sector.

Consumer spending is expected to decline further in H1 2023 amid economic uncertainties globally

Rising inflation and surging cost of living dampened consumer spending globally in H2 2022. With consumers spending less on splurging and saving more amid the fears of recession, online order volumes have declined significantly in some regions. For instance,

  • European B2C e-commerce markets are one of the worst affected globally due to economic uncertainties. Even during the year-end holiday shopping season, consumers have reduced their spending on retail purchases, thereby affecting the growth of the market. The trend is projected to further continue in H1 2023, as central banks continue to hike interest rates to bring down inflation.
  • While Europe has been largely affected, other markets have shown strong momentum in the year-end holiday shopping season. Amazon, for instance, announced that the 2022 Thanksgiving has been the biggest ever for the firm. During the four-day shopping event, independent retailers on the marketplace sold more than US$1 billion on the platform.
  • Similar trends were visible in the Indian market, wherein e-commerce marketplaces recorded strong growth during the Diwali shopping season. Players such as Meesho have recorded 910 million orders during the 12 months of 2022, with the online shopping trend growing in Tier III and IV cities of the country.

In H1 2023, though, consumers are projected to restrict their spending amid the fears of recession. Furthermore, with their monthly budget impacted significantly due to the rise in product prices, order volume is expected to decline across product categories and the e-commerce segment.

Innovation in the Indian e-commerce segment will shape the future of the global online shopping market

The Indian e-commerce market has been the leading growth of the global industry over the last few years. With millions of more consumers projected to enter the online shopping industry in the country, India is well-positioned to emerge as the global leader in the digital commerce space. To accelerate industry growth, the government has launched an Open Network for Digital Commerce (ONDC) project.

  • The innovative project aims to democratize the e-commerce market for small and medium-sized businesses. The open-source network will enable buyers and sellers to move from a platform-centric model to an interoperable decentralized network. It means that consumers can discover the product on one platform, order from another, pay for their purchases using different payment providers, and get their product delivered from a cheaper logistic service provider.

The project is projected to reduce the barrier to entry into the e-commerce sector and will threaten the dominance of market leaders such as Amazon and Flipkart. Currently, in the pilot phase, the government is planning a nationwide rollout of the interoperable shopping platform in 2023.

Consolidation is projected to continue in the food and grocery delivery segment globally

During the pandemic outbreak, the food and grocery delivery market recorded strong growth. However, the momentum started to decline in 2022 and the sector entered into a period of consolidation. In 2023, PayNXT360 expects further consolidation in the space amid economic uncertainties faced by players operating in the segment.

  • Amid the decline in order volume, many good and grocery delivery firms have announced a decline in their valuation. Instacart, for instance, which started 2022 with a valuation of nearly US$40 billion, announced several valuations cut throughout the 12 months. In December 2022, the firm announced another valuation cut to US$10 billion.
  • Along with the decline in valuation, firms are also entering into mergers and acquisition deals to consolidate their position in the respective markets. In December 2022, Getir announced the acquisition of Gorillas in a US$1.2 billion deal. The agreement will allow Getir to further strengthen its position in the European and the United States market.

In H1 2023, PayNXT360 expects more such merger and acquisition deals to take place in the global e-commerce market, as the food and grocery delivery segment continues to face inflationary and reduced consumer spending pressures.

This report provides a detailed data-centric analysis of B2C ecommerce market dynamics, covering over 100 KPIs globally. It details market opportunities across key B2C verticals - Retail Shopping, Travel & Hospitality, Online Food Service, Media and Entertainment, Healthcare and Wellness, and Technology Products and Services. It provides market share by key players across key verticals along with sales channels (Platform to Consumer, Direct to Consumer, Consumer to Consumer).

The report also covers niche trends such as market size by live streaming engagement model and cross-border purchases. It also covers ecommerce spend share by operating systems, devices (mobile vs. desktop) and cities.

In addition, to detailed data-centric analysis, this report provides analyst commentary on key trends, drivers, strategies, and innovations in theB2C ecommerce industry at the global scale.

This title from PayNXT360 is a bundled offering, combining 21 reports, covering regional insights along with data-centric analysis at regional and country levels:

  1. Global B2C Ecommerce Market Opportunities Databook (2018-2027)
  2. Argentina B2C Ecommerce Market Opportunities Databook (2018-2027)
  3. Australia B2C Ecommerce Market Opportunities Databook (2018-2027)
  4. Brazil B2C Ecommerce Market Opportunities Databook (2018-2027)
  5. Canada B2C Ecommerce Market Opportunities Databook (2018-2027)
  6. China B2C Ecommerce Market Opportunities Databook (2018-2027)
  7. France B2C Ecommerce Market Opportunities Databook (2018-2027)
  8. Germany B2C Ecommerce Market Opportunities Databook (2018-2027)
  9. India B2C Ecommerce Market Opportunities Databook (2018-2027)
  10. Indonesia B2C Ecommerce Market Opportunities Databook (2018-2027)
  11. Italy B2C Ecommerce Market Opportunities Databook (2018-2027)
  12. Kenya B2C Ecommerce Market Opportunities Databook (2018-2027)
  13. Mexico B2C Ecommerce Market Opportunities Databook (2018-2027)
  14. Nigeria B2C Ecommerce Market Opportunities Databook (2018-2027)
  15. Pakistan B2C Ecommerce Market Opportunities Databook (2018-2027)
  16. Philippines B2C Ecommerce Market Opportunities Databook (2018-2027)
  17. South Africa B2C Ecommerce Market Opportunities Databook (2018-2027)
  18. United Arab Emirates B2C Ecommerce Market Opportunities Databook (2018-2027)
  19. United Kingdom B2C Ecommerce Market Opportunities Databook (2018-2027)
  20. United States B2C Ecommerce Market Opportunities Databook (2018-2027)
  21. Vietnam B2C Ecommerce Market Opportunities Databook (2018-2027)