The global homeshopping market is projected to grow at a CAGR of 6.56% during the forecast period (2020 - 2025).
- Rapid digitalization and high adoption of online shopping through e-commerce sites such as Amazon.com, Otto Group, etc. is the key factor driving the market.
- Moreover, technology advancement, improved logistics and safe payment system coupled with increasing internet and mobile access and consumer demand for convenience have increased the purchase of household goods.
Key Market Trends
Growing Demand for Customer Convenience
E-commerce and mobile commerce have gained more and more market share and this shift is expected to continue as further sales channels such as social media platforms and smart devices will grow the existing portfolio. Moreover, the major driving factors are hassle-free and convenient experiences, contactless payments are witnessing robust adoption in countries, such as the United Kingdom, Australia, Canada, and Singapore. For instance, in the United Kingdom, the number of contactless transactions reached significant growth in 2016, thereby, indicating an increased growth rate.
North America Dominates the Market
The global home-shopping market is highly dominated by North America followed by Europe. Asia-Pacific is the fastest-growing region with a large number of imports from various countries. In 2017, the average imports of Asian consumers are 21% though it varied significantly by country. Asian countries such as Indonesia, Japan, and India each recorded a significant import value in 2017. China accounts for more than one-fourth imports from other countries (excluding Asian countries). The home-shopping market in the United States is dominated by accessories, books, and music. Whereas, Asia-Pacific region holds the largest share in the global home-shopping market in personal care and cosmetics segments. Players such as Taobao, Alibaba, and Amazon hold the majority share in China and India in the Asia-Pacific reg
The global homeshopping market is moderately fragmented with the dominance of Amazon.com, eBay, etc. in e-Commerce and mobile shopping segments.The widee distribution network, quick delivery service and wider global reach has made Amazon.com to gainthe competitive advantage over the other players in the global homeshopping market. Some of the major key players in the homeshopping market, globally includes Amazon.com, Inc, Shop LC., The Jewellery Channel Limited - VGL Group Of Companies, Flipkart, among others
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