The major players in the consumer electronics e-commerce market are Alibaba, Amazon, and JD. com, eBay, Shopify, Rakuten, Walmart, Newegg, Target, and Flipkart. The global consumer electronics e-commerce market is expected to grow by $ 310.
New York, September 30, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Consumer Electronics E-Commerce Global Market Report 2021: COVID-19 Growth And Change To 2030” – https://www.reportlinker.com/p06151611/?utm_source=GNW
$ 23 billion in 2020 to $ 343.34 billion in 2021 at a compound annual growth rate (CAGR) of 10.7%. The change in growth trend is mainly due to companies stabilizing production after meeting demand which increased exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $ 511.06 billion in 2020. 2025 at a CAGR of 10%.
The consumer electronics e-commerce market includes sales of electronic products including video products such as television, navigation products, digital cameras and accessories, digital camcorders and accessories, e-readers, DVD players and Blu-ray, audio products such as MP3. players and accessories, home theater audio systems and components, musical instruments and mobile electronics, and others. The market is made up of revenues generated by establishments from the sale of these electronic video and audio devices.
Electronic commerce refers to businesses, businesses and individuals who sell goods or services electronically.
The consumer electronics e-commerce market covered by this market is segmented by product into video products, audio products, other; economic model: business to business (B2B), business to consumer (B2C).
The regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East & Africa.
The lack of an integrated end-to-end logistics platform for the delivery of electronics purchased online is a key factor hindering the growth of this market. Indeed, supply is greater than demand, and in developing countries, there is a significant logistical barrier. .
For example, in India there are 6,000 cities and 600,000 villages which make up almost 70% of the country’s population. Retail e-commerce can only deliver around 200 cities in India, which means that for a major proportion of the population these services are not available.
Logistics performance differs considerably in each country. The differences include the local logistics infrastructure, delivery choices, delivery method and warehousing.
These challenges pose challenges for companies wishing to expand beyond borders. In addition, catering services for same-day and next-day deliveries, as well as the simultaneous handling of time slot change requests, is another major logistical challenge for retailers. These factors are therefore hampering the growth of the consumer electronics e-commerce market.
Augmented Reality (AR) technology improves the online shopping experience. AR technology is a solution to the âuncertaintyâ of online shoppers about a product they wish to purchase online.
AR solutions allow customers to view products in real time, from the comfort of their homes. 3D visualizations via AR allow customers to see what products might look like in their space before committing to buy.
They can try different options and choose the best product. This reduces the inconvenience of returning / exchanging products, and saves return time and costs.
AR helps online retailers dramatically reduce returns by providing a digital ‘try before you buy’ experience. For example, Augment is an augmented reality tool that allows customers to view a product in real time. Augment helps customers rotate and view products so that they can be viewed in a natural setting. In addition, customers can change the colors and finishes of the product.
Consumers are shifting from offline shopping to online shopping, and this factor is the key driver in the consumer electronics e-commerce market. Globally, nearly 53% of the world’s population (over 4 billion people) is connected to the Internet, and almost all (92.6%) go online using their mobile devices. Internet connectivity has presented an opportunity for hassle-free shopping – anytime, anywhere. Internet accessibility, mobile technology and digital innovations are changing the shopping experiences of consumers. With the growing confidence of customers in purchasing high value products including electronics over the internet, the number of online shoppers is skyrocketing. Therefore, with the increased penetration of online shopping in the lives of consumers, the value of the e-commerce market is expected to only increase but not slow down.
Amazon.com Inc. has signed agreements with the Future Group to sell products from India’s second-largest retailer in its online marketplace. Amazon will become the authorized online sales channel for Future Retail Ltd. stores, which sell everything from groceries to cosmetics and clothing, according to an exchange document filed on Monday. The e-commerce giant will also have a partnership with Future Consumer Ltd. which manufactures consumer goods such as packaged snacks and household cleaners.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, United Kingdom and United States.
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