Home Shopping Market is Expected to Reach USD 9.4 trillion by 2027

Author : univdatos
Publish Date : 2021-06-08 15:19:02
Home Shopping Market is Expected to Reach USD 9.4 trillion by 2027

Research report presented by UnivDatos, Emphasis on Product Type (Groceries, Apparels & Accessories, Footwear, Personal & Beauty Care, Furniture & Home Decor, Electronic Goods, Others); Market Type (Teleshopping, E-Commerce & Mobile Shopping, Others) and Geographical analysis (key regions and countries).

As per the research report, Global Home Shopping Market is expected to reach the market valuation of USD 9.4 trillion by 2027 expanding at a reasonable CAGR of 17.9% during the forecast period (2021-2027) from USD 3 trillion in 2020. Home Shopping channel includes television-based shopping, e-commerce, and telephonic shopping. Improved internet connectivity and increased adoption of smartphones have positively impacted the virtual shopping market. Secured networks, enhanced internet connections, and an increase in the number of internet users are driving retailers to expand their business in the e-commerce market. According to International Telecommunication Union (ITU), in Europe internet penetration reached 82.49% by 2019. Owing to the increase in smartphone users and high internet penetration, the market for home shopping has increased considerably. For instance, the US is among the top e-commerce market. Moreover, the consumers in the U.S. rely more on online shopping, and around 79% of the population, or 258.5 million people had made an online purchase in the year 2018. This is driving the market for home-based shopping. Furthermore, with the rise in disposable income the total per capita spending of the consumers in India has increased in the past few years, owing to this the total spending of consumers on home shopping has been positively impacted. In 2016, Amazon launched Amazon Pantry for customers. Using Amazon Pantry, customers can now shop for over 4,000 everyday essentials such as groceries and household products on the website and mobile. Amazon Pantry comes with guaranteed next-day delivery in India.

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According to Oberlo, in 2020 out of 7.8 Bn of the population across the world, 26.28% of the population are potential online shoppers. The number of digital shoppers has significantly increased from 1.32 Bn in 2014 to 2.05 Bn in 2020 and is continuously increasing. Moreover, with the outbreak of COVID-19, consumers have shifted more towards home shopping. For instance, in Denmark online stores sale increased in 2020 after the outbreak of COVID-19 in the region. Additionally, online stores have experienced an overall increase in sales by at least 10.4%. Furthermore, according to Common Thread Collective, the sale of goods by home shopping has increased by 52.2%.

Insights Presented in the Report

“Amongst Product Type, Personal & Beauty Care segment holds a significant share in 2020”

Based on the product type, the global home shopping market is fragmented into groceries, apparel & accessories, footwear, Personal & Beauty care, furniture & home decor, electronic goods, and others. According to oberlo, in 2021, out of the total e-commerce spending of consumers worldwide, consumers' most spending was on fashion-related which was USD 759.5 Bn. However, the growth rate decreased from 26.5% in 2019 to 20.3% in 2020. This was due to the COVID-19 pandemic. However, significant growth has been seen in the grocery segment and is expected to increase the market growth during the forecast period owing to the dependency of consumers on home shopping due to lockdown in various regions of the world.

For a detailed analysis of the Home Shopping Market browse through - https://univdatos.com/report/home-shopping-market-current-analysis-and-forecast-2021-2027

“Amongst Market Type, E-commerce and Mobile Shopping segment holds the major share in 2020”

Based on the type, the global home shopping market is fragmented into teleshopping, E-commerce & mobile shopping, and others. According to International Telecommunication Union (ITU), internet users accounted for 3.5 million individuals which rose to 4 million by 2019 and China was at the top with the highest number of internet users as compared to other countries. Owing to the increasing number of internet and smartphone users, the E-commerce and mobile shopping segment dominated the market in 2020.

“North America signifies as one of the largest markets of Home Shopping in 2020”

For a better understanding, detailed analysis has been conducted for major regions including North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia and Rest of APAC), and Rest of World. Asia-Pacific with the increasing number of smartphone users has the potential to become one of the largest markets for home shopping in near future.

Browse - Subscription E-commerce Market: Research Report Overview by Industry Size, Share, Trends, Growth & Leading Players (2019-2025)

Competitive Landscape

Amazon.com, Inc., Flipkart private limited, eBay Inc., Alibaba Group, Walmart, VGL group of companies, JD.com, Inc., Best Buy, The Home Depot, Apple, Inc., are some of the prominent players operating in the global Home Shopping market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.

Customization Options:

Home Shopping Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

Category : business

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