NOIDA, India, June 3, 2021 /PRNewswire/ -- A comprehensive overview of the Home Shopping market is recently added by UnivDatos Market Insights to its humongous database. The Global Home Shopping market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on 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 market growth. Furthermore, this statistical market research repository examines and estimates the Home Shopping market at the global and regional levels. The Global Home Shopping Market is expected to grow at a CAGR of 17.9% from 2021-2027 to reach US$ 9,432 billion by 2027.
Market Overview
The Global Home Shopping Market is experiencing significant growth on account of increasing smartphone penetration and higher internet availability worldwide. Further, amid the Covid-19 outbreak, countries around the world have imposed lockdown, this has further boosted the demand for the home shopping market. According to Oberlo, the online shopper's population has increased 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 revenue of US$ 672 billion from e-commerce business. Furthermore, secured payment methods, enhanced internet quality, convenient free home deliveries with fascinating offers is driving the home shopping market.
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COVID-19 Impact
Due to COVID-19, the home shopping market has enhanced globally. Owing to the global pandemic Covid-19 many countries were observing lockdown, which compelled the businesses to shift towards online platforms, to cater to the increasing demand for e-commerce sales. For instance, online sales in Denmark increased in 2020 due to COVID-19. Also, online shops observed a 10% increase in sales. Global retail e-commerce traffic recorded 22 billion visits in June 2020 with increased demand for household goods 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 globe.
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Global Home Shopping Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Product Type, the market is primarily bifurcated into
- Groceries
- Apparels & accessories
- Footwear
- Personal & Beauty care
- Furniture & Home décor
- Electronic Goods
- Others
Owing to the lockdown in various countries across the world due to the COVID-19 outbreak, the grocery segment has observed an increase in overall sales on online platforms. Amid the pandemic, more than 10 million US consumers purchased grocery online for the first time. Online grocery sales grew 54.0% in 2020, compared to 2019 in the US. The Groceries segment of the global Home Shopping market and is expected to grow at XX% CAGR to reach US$ XX billion by the year 2027.
By Market Type, the market is primarily bifurcated into
- Teleshopping
- E-commerce and mobile
- Others
E-commerce and mobile segment dominated by the type of the global Home Shopping market due to the continuous increase in the number of smartphone and internet users, and the segment will grow at XX% CAGR to reach US$ XX billion by the year 2027.
Home Shopping Market Geographical Segmentation Includes:
- 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)
- Rest of the World
Based on the estimation, the North America region dominated the Home Shopping market with almost US$ XX billion revenue in 2020. At the same time, the Asia-Pacific region is expected to grow remarkably with a CAGR of XX% over the forecast period on account of the increasing internet penetration and smartphone users in the region.
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The major players targeting the market includes
- 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.
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Home Shopping market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
- What are the latest trends, new patterns, and technological advancements in the Home Shopping Market?
- Which factors are influencing the Home Shopping Market over the forecast period?
- What are the global challenges, threats, and risks in the Home Shopping Market?
- Which factors are propelling and restraining the Home Shopping Market?
- What are the demanding global regions of the Home Shopping Market?
- What will be the global market size in the upcoming years?
- What are the crucial market acquisition strategies and policies applied by global companies?
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About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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