Cross-Border B2C E-Commerce Market: Global Industry Analysis and Forecast (2023-2029)

Cross-Border B2C E-Commerce Market was valued at USD 944.75 Billion in 2022, and it is expected to reach USD 3149.68 Billion by 2029, exhibiting a CAGR of 18.77 % during the forecast period (2023-2029)
Cross-Border B2C E-Commerce Market Overview:
Cross border B2C E-Commerce can be definite as E-Commerce trade across worldwide borders, involving to purchase and sell products over online stores across international & national borders. A transaction entity that conducts business in two or more nations is involved here. The businesses use the E-Commerce platform to carry out transactions and ship the goods via global B2C logistics.

Cross-border e-commerce platforms give Small and Medium-Sized Enterprises (SMEs) access to both a domestic and international consumer base, which provides opportunities for growth. For instance, Data Catalyst estimates that approximately 70% of American SMEs use their web shop or a third-party online marketplace, with the majority of those companies choosing to use multiple markets. Therefore, it is anticipated that the market environment would improve over the projected period due to the rising need for these services to link customers with suppliers, make ordering more accessible, and manage the delivery of goods.

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Cross-Border B2C E-Commerce Global reach:

The size of the prospective market is nearly equivalent to the global internet population. E-commerce technology allows for smooth access to the client across traditional cultural and national boundaries and promotes globally. E-commerce websites have the ability to translate multilingual websites and give access to people from all over the world so they may buy things and conduct business.

The retail industry is evolving as a result of the e-commerce sector's rapid growth. E-commerce is expected to make up roughly 8–10% of India's overall retail market in the upcoming years. If e-commerce businesses continue to prioritise innovation, a solid technological foundation, and providing the greatest possible customer service, this rise will definitely continue.
Cross-Border B2C E-Commerce Market Dynamics:
The MMR report covers all the trends and technologies playing a major role in the growth of the Cross-Border B2C E-Commerce Market over the forecast period. It highlights the drivers, restraints, and opportunities expected to mpact the market growth during 2022-2029.

Growing Collaboration between FinTech & B2C E-Commerce Businesses:

Collaborations between banks and fintech companies have shown to be an effective and profitable growth strategy. Working with a potential rival enables traditional financial institutions (FIs) to integrate technologies for consumers without having to create proprietary solutions. For example, Future Technologies, a start-up focused on enhancing the banking experience for end users, has received USD 19.67 million from U.K.-based building society Nationwide. As the building society prepares to launch its business current account services later this year, Nationwide's participation in the company's Series B investment has given the building society a minority stake in the company and will enable the companies to work together on developing a digital business banking platform.

Global Online Shopping is Growing Fast:

As the Internet has grown, so too has the world of online shopping. Since traditional trade methods have given way to modern ones, B2C e-commerce is now more efficient and speeds up transactions. Additionally, the majority of transactions are carried out online using electronic payments that are characterised by viral content and space-time crossover. Therefore, the positive aspects of cross-border e-commerce will foster a favourable outlook for market expansion. Furthermore, professionals and businesses looking to increase their international trade are paying attention to the growing use of cross-border e-commerce as a new framework for cross-border trade. As a result, this has emerged as a crucial factor in accelerating market growth during the expected time frame.

Reduced Costs, A Wider Selection of Products, And the Spread of Technology:

From a consumer's perspective, lower costs and a wider selection of products are what are driving the online shopping trend. Furthermore, as distribution organisations and e-commerce businesses expand their logistical capabilities, customers will be able to pick up their international online orders more quickly, removing some of the biggest obstacles to overseas buying. Globalization has increased the amount and variety of cross-border transactions in services and goods through the quick and extensive dissemination of technology. The dynamics of the global cross-border business-to-consumer e-commerce market have been influenced by this.

Online Domestic Sales Overtook Cross-Border Sales in Various Countries:

Various countries around the world saw different rates of cross-border B2C E-Commerce adoption. In certain countries, domestic online sales and transactions surpassed those made abroad in 2020. In the first quarter of 2020, the majority of internet purchases in Germany took place on a national level, with only around 30% occurring abroad. Russia, Poland, Turkey, and Latin America all followed the same pattern, with the domestic B2C E-Commerce market outpacing the global market in the same year. However, the majority of internet transactions in Italy took place outside of the country in 2020, outpacing domestic digital transactions.

However, express airlines continue operating while making use of their aircraft assets. It is projected that these supply chain interruptions, lockdown procedures, and restricted consumer and business expenditure will impede industry growth. Nevertheless, it is anticipated that demand for cross-border B2C e-commerce will increase as governments around the world relax tight regulations.
Cross-Border B2C E-Commerce Market Segmentation:
MMR provides an analysis of the key trends in each sub-segment of the global cross-border B2C E-Commerce market, along with forecasts at the global, regional and country level from 2023-2029. Our report has categorized the market based on Offering, Payment Method, and Category.

Offering Outlook, Assorted Brands segment dominated the Cross-Border B2C E-Commerce Market with a revenue largest share in 2022. As a result of the COVID-19 epidemic, there is an upsurge in demand for a variety of products. The public's preference for online shopping for a variety of goods, including clothing, food, and beverages, is expected to fuel the rise of the assorted brand category during the following decades.

Payment Method Outlook, Digital Wallets segment is projected to grow at the highest CAGR of 19.55% during forecast period. The launch of global B2C payment platforms via digital wallets is expected to accelerate the segment's growth. Global multi-currency virtual wallet, for instance, was introduced by HSBC bank in 2022. Users of wallets can simplify overseas payments by doing so while requiring little documentation. Additionally, it is anticipated that the growth of several digital wallet businesses would offer numerous potentials for the sector to expand globally with increased financial inclusion.

The greatest market share of the global revenue share in 2022 was accounted for by the credit/debit cards segment. The significant market share is owing to the widespread use of credit/debit card payments across all e-commerce platforms. In addition, technical advancements like the use of blockchain for improved security are anticipated to accelerate the segment's growth over time. The growth of the segment is also being aided by the special rewards and benefits acquired by using credit/debit cards.


Cross-Border B2C E-Commerce Market Regional Insights
Regional analysis is another highly comprehensive part of the research and analysis study of the global market for Cross-Border B2C E-Commerce presented in the MMR report.

In 2022, Asia Pacific accounted the largest revenue share in the cross-border B2C E-commerce market. The rising internet and smartphone adoption in emerging countries is to blame for this enormous market share. Additionally, the industry is growing as a result of the population's rising disposable income, rapid urbanisation, and rising living standards. The growing nations like South Korea, India, Japan, and China are principally responsible for the growth of the market. The existence of a sizable consumer base in the Asia Pacific region is projected to propel market growth. Furthermore, it is projected that the region's expanding trade linkages would present excellent chances for market expansion. For example, China improved its free trade agreement with New Zealand, which sped up exporter procedures, increased market access, and broadened tariff-free programmes.

According to the MMR report, Japan Cross-border E-commerce Market size was valued at US$ 2.59 Bn. in 2019 and the total revenue is expected to grow at 7.3% through 2021 to 2027, reaching nearly US$ 4.55 Bn. Increasing urban populations, Internet penetration, changing shopping behaviours, and increasing consumer awareness of e-commerce are expected to drive market growth during the forecast period. For example, according to Japan’s Internet Statistics and Telecommunications Report, Japan’s Internet penetration rate in 2019 was 93.8%. According to Japanese industry experts, consumer behaviour in Japan is changing rapidly.

Over the upcoming years, the cross-border B2C e-commerce market in North America is expected to expand gradually. The rapid expansion of the North American market can be linked to the rise in consumer demand for high-quality products at competitive rates. Due to the high PLI (Price Level Index) in the region, domestic consumers can conduct B2C cross-border transactions.

Cross-Border B2C E-Commerce Market Player Strategic Development:

To grow their cross-border e-commerce capabilities and solutions, major international B2C cross-border e-commerce platforms also put an emphasis on business collaborations and relationships with tech-enabled cross-border payment solution providers. For instance, in July 2022, Global-e, a major participant in global e-commerce, and Pitney Bowes will streamline compliance processes by localising shopping portals to 200+ areas through a cross-border business partnership. The worldwide e-commerce market will benefit from this arrangement, which is anticipated to provide significant value to clients abroad.

Research Methodology:

The research methodology used to estimate and forecast the Cross-Border B2C E-Commerce market began with capturing data on key vendor revenues. The market size of individual segments was determined through various secondary sources including industry associations, white papers, and journals. Vendor offerings were also taken into consideration to determine the market segmentation. The bottom-up approach was employed to arrive at the overall size of the market, by considering the Cross-Border B2C E-Commerce adoption rate and Cross-Border B2C E-Commerce pricing by key players, which were then verified through primary research by conducting extensive interviews with key industry personnel, such as Vice Presidents (VPs), directors, and related executives in the market. Data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and sub segments.
Cross-Border B2C E-Commerce Market Scope: Inquiry Before Buying



Cross-Border B2C E-Commerce Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 944.75 Bn.


Forecast Period 2023 to 2029 CAGR:
18.77 %
Market Size in 2029:
US $ 3149.68 Bn.


 Segments Covered:
by Offering
• In-house Brands
• Assorted Brands


by Payment Method
• Digital Wallets
• Credit/Debit Cards
• Internet Banking
• Others


by Category
• Entertainment & Education
• Apparel & Accessories
• Consumer Electronics
• Home Furnishing
• Personal Care & Beauty
• Healthcare & Nutrition
• Footwear
• Food & Beverage
• Others



Cross-Border B2C E-Commerce Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Cross-Border B2C E-Commerce Market, Key Players are:
• Amazon.com Inc.
• Etsy Inc
• eBay Inc
• Alibaba Group
• Wish Inc
• Vee Pee
• Cnova
• Asos Plc
• Fruugo
• JD.com (Jing Dong)
• Apple Inc
• DHL Group
• Box Me
• Pay pal
• Asia Commerce
• Sing Post
• Shipping Cart
• Anchanto
• SIA Joom (Latvia)
• Zalando
• Others

Frequently Asked Questions:

1] What segments are covered in the Global Cross-Border B2C E-Commerce Market report?
Ans. The segments covered in the Cross-Border B2C E-Commerce Market report are based on Offering, Payment Method and Category.

2] Which region is expected to hold the highest share in the Global Cross-Border B2C E-Commerce Market?
Ans. APAC region is expected to hold the highest share in the Cross-Border B2C E-Commerce Market.

3] What is the market size of the Global Cross-Border B2C E-Commerce Market by 2029?
Ans. The market size of the Cross-Border B2C E-Commerce Market by 2029 is expected to reach USD 3149.68 Bn.

4] What is the forecast period for the Global Cross-Border B2C E-Commerce Market?
Ans. The forecast period for the Cross-Border B2C E-Commerce Market is 2023-2029.

5] What was the market size of the Global Cross-Border B2C E-Commerce Market in 2022?
Ans. The market size of the Cross-Border B2C E-Commerce Market in 2022 was valued at USD 944.75 Bn.