Global Home Shopping Market To Reach US $ 9,432 Billion By 2027 | CAGR: 17.9% | UnivDatos Market Overview
NOIDA, India, June 3, 2021 / PRNewswire / – A comprehensive overview of the home shopping market was recently added by UnivDatos Market Insights to its massive database. The Global Home Shopping Market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report is based on several analyzes to better understand the Home Shopping market. The global Home Shopping market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the growth of the market. Furthermore, this repository of statistical market research examines and estimates the Home Shopping market on a global as well as regional level. The global home shopping market is expected to grow at a CAGR of 17.9% from 2021 to 2027 to reach US $ 9.432 billion by 2027.
The global home shopping market is experiencing significant growth due to the increasing penetration of smartphones and the increased availability of the internet around the world. Additionally, in the midst of the Covid-19 outbreak, countries around the world have imposed lockdowns, further boosting demand for the home shopping market. According to Oberlo, the population of online shoppers grew from 1.32 billion in 2014 to 2.05 billion users in 2020. In 2021, global e-commerce sales stood at US $ 4.5 trillion. China was the largest e-commerce market, generated the highest turnover of $ 672 billion of electronic commerce. In addition, secure payment methods, improved internet quality, free and convenient home delivery with fascinating offers are driving the home shopping market.
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Impact of COVID-19
Due to COVID-19, the home shopping market has improved globally. Due to the global Covid-19 pandemic, many countries were witnessing a lockdown, forcing businesses to turn to online platforms, to meet the growing demand for online sales. For example, online sales in Denmark increased in 2020 due to COVID-19. In addition, online stores have seen a 10% increase in sales. Global retail e-commerce traffic recorded 22 billion visits in june 2020 with increased demand for household items such as clothing, retail tech items, and groceries. COVID-19 is expected to have a long-term impact on the e-commerce and retail industry across the world.
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The global Home Shopping market report is studied extensively with several aspects which would help stakeholders to make their decisions in a more organized way.
By Product Type, the market is primarily split into
- Clothes and accessories
- Personal care and beauty
- Furniture and interior decoration
- Electronic products
Due to the lockdown in various countries around the world due to the COVID-19 outbreak, the grocery segment has seen an increase in overall sales on online platforms. Amid the pandemic, more than 10 million U.S. consumers purchased groceries online for the first time. Online grocery sales increased 54.0% in 2020, compared to 2019 in the United States. The Grocery segment of the global home shopping market and is expected to grow at a CAGR of XX% to reach US $ XX billion by 2027.
By market type, the market is mainly split into
- E-commerce and mobile
E-commerce and mobile segment dominated by the type of global teleshopping market due to the continuous increase in the number of smartphone and internet users, and the segment will grow at XX% CAGR to reach $ XX billion d ‘by 2027.
The geographic segmentation of the home shopping market includes:
- North America (United States, Canada, and the rest of North America)
- Europe (Germany, France, Italy, Spain, UK, and the rest of Europe)
- Asia Pacific (China, Japan, India, Australia, and the rest of the APAC)
- Rest of the world
Based on the estimate, the North America region dominated the teleshopping market with nearly $ XX billion in sales in 2020. At the same time, the Asia Pacific The region is expected to experience remarkable growth with a CAGR of XX% during the forecast period due to the increasing penetration of internet and smartphone users in the region.
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Major players targeting the market include
- Amazon.com, Inc.
- Limited private flipkart
- eBay Inc.
- Alibaba Group
- VGL Group of Companies
- JD.com, Inc.
- Best buy
- Home depot
- Apple Inc.
The degree of competition among leading global companies has been developed by analyzing several major key players operating around the world. The specialized team of research analysts shed light on various characteristics such as global market competition, market share, latest industry advancements, innovative product launches, partnerships, mergers or acquisitions by the main companies in the home shopping market. The major players were analyzed using research methodologies to gain insights into global competition.
Key questions answered through this analytical market research report include:
- What are the latest trends, new models and technological advancements in the home shopping market?
- What factors are influencing the home shopping market during the forecast period?
- What are the global challenges, threats and risks in the home shopping market?
- What factors are driving and restraining the home shopping market?
- What are the demanding global regions of the home shopping market?
- What will be the size of the global market in the coming years?
- What are the critical market acquisition strategies and policies applied by global companies?
We understand the requirements of different companies, regions and countries, we offer customized reports according to your requirements of the nature and geography of the business. Please let us know if you have any custom requirements.
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About UnivDatos Market Insights
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