B2C E-Commerce Market In US 2024-2028: Rise in online spending and smartphone penetration demand Fuels Growth
The b2c e-commerce market in us size by Type (B2C retailers and Classifieds), Application (Consumer electronics and home appliances, Apparel and accessories, Personal care, and Others), Platform (Multi-brand and Single-brand), and Geography (North America), is forecast to increase by USD 248.5 billion. The market is expected to grow at a CAGR of 8.08% between 2024 and 2028.
The burgeoning B2C e-commerce market in the US has been significantly fueled by the increasing Internet penetration, with an estimated 307 million active Internet users as of January 2022. This digital expansion has led to a surge in online shopping via smart devices, particularly m-commerce. Consumers' preference for the convenience and upgraded purchase and delivery options have contributed to the shift towards e-commerce platforms. Anticipated consumer spending on e-commerce in the US is projected to surpass USD1 trillion by year-end 2022, further underscoring the market's growth trajectory.
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The burgeoning e-commerce landscape in the US business-to-consumer (B2C) sector is experiencing significant growth due to the increasing prevalence of online shopping. Retail e-commerce sales in the country have been on an upward trajectory, fueling the adoption of e-commerce services among B2C companies. Secure e-commerce payment platforms, which employ advanced payment processing technologies, have become a major draw for consumers seeking to make purchases online for their consumer goods. These platforms offer a high level of security and convenience, making them the preferred choice for the majority of online shoppers. In response, B2C companies have expanded their payment gateway options to cater to a broader customer base and remain competitive in the market.
The US B2C e-commerce market for consumer electronics and home appliances is experiencing significant growth, driven by the high penetration of the Internet and the convenience it offers for purchasing these goods online. The industry is characterized by a fragmented market structure, with both large retail chains and small independent players vying for market share. This growth is expected to continue due to urbanization and the expansion of the middle class population. Additionally, manufacturers are responding to increasing energy and utility costs by introducing energy-efficient appliances to meet consumer demand.
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