Home Shopping Market to Reach US$9.432 Billion by 2027 Globally | CAGR: 17.9% | UnivDatos Market Overview
NOIDA, India, June 3, 2021 /PRNewswire/ — A comprehensive overview of the home shopping market was recently added by UnivDatos Market Insights to its massive database. The Global Teleshopping Market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report uses several analyzes to have a more precise vision of the teleshopping market. The Global Home Shopping Market report offers a detailed analysis of the latest industry developments and market trending factors that are influencing market growth. Additionally, this statistical market research repository examines and estimates the teleshopping market at global and regional levels. The global home shopping market is expected to grow at a CAGR of 17.9% from 2021 to 2027 to reach US$9.432 billion by 2027.
The global teleshopping market is witnessing significant growth owing to the growing penetration of smartphones and the increased availability of the internet globally. Moreover, amid the Covid-19 outbreak, countries around the world have imposed lockdowns, which has further boosted the demand for the home shopping market. According to Oberlo, the population of online shoppers grew from 1.32 billion in 2014 to 2.05 billion users in 2020. In 2021, global e-commerce sales were US$4.5 trillion. China was the largest e-commerce market, generated the highest revenue of US$672 billion of e-commerce. Moreover, secure payment methods, improved internet quality, free and convenient home deliveries with fascinating offers are driving the home shopping market.
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Impact of COVID-19
Due to COVID-19, the home shopping market has improved globally. Due to the global Covid-19 pandemic, many countries were observing lockdowns, which forced businesses to turn to online platforms to meet the growing demand for online sales. For example, online sales in Denmark increased in 2020 due to COVID-19. Additionally, online stores saw a 10% increase in sales. Global retail e-commerce traffic recorded 22 billion visits in June 2020 with increased demand for household items such as clothing, retail technology items and groceries. COVID-19 is expected to have a long-term impact on the e-commerce and retail industry across the world.
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The global Home Shopping market report is thoroughly studied with several aspects which would help the stakeholders to make their decisions more carefully.
By product type, the market is primarily split into
- Clothes and accessories
- Personal and beauty care
- Furniture and decoration
- Electronic products
Due to the lockdown in various countries around the world due to the COVID-19 outbreak, the grocery segment has observed an increase in overall sales on online platforms. Amid the pandemic, more than 10 million American consumers purchased groceries online for the first time. Online grocery sales increased 54.0% in 2020, compared to 2019 in the United States. The Grocery Store segment of the Global Home Shopping Market is expected to grow at a CAGR of XX% to reach US$XX Billion by 2027.
By market type, the market is primarily split into
- E-commerce and mobile
E-commerce and mobile commerce segment dominated by global home shopping type of market due to continuous increase in smartphone and internet users, and the segment will grow at XX% CAGR to reach US$XX billion d 2027.
The geographic segmentation of the home market includes:
- North America (United States, Canada, and the rest of North America)
- Europe (Germany, France, Italy, Spain, UK, and Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, and rest of APAC)
- Rest of the world
Based on the estimate, the North America The region led the home shopping market with nearly $XX billion in revenue in 2020. At the same time, the Asia Pacific The region is expected to witness remarkable growth with a CAGR of XX% during the forecast period owing to the increasing penetration of internet and smartphone users in the region.
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Key players targeting the market include
- Amazon.com, Inc.
- Limited Private Flipkart
- eBay Inc.
- Alibaba Group
- VGL group of companies
- JD.com, Inc.
- best buy
- The reception deposit
- Apple Inc.
The degree of competition between major global companies has been worked out by analyzing several key players operating across the globe. The specialized team of research analysts shed light on various traits such as global market competition, market share, latest industry advancements, innovative product launches, partnerships, mergers or acquisitions by leading companies in the teleshopping market. Major players have been analyzed using research methodologies to get an overview of the global competition.
Key questions answered through this analytical market research report include:
- What are the latest trends, new models and technological advancements in the teleshopping market?
- What factors are influencing the teleshopping market during the forecast period?
- What are the global challenges, threats, and risks in the Teleshopping market?
- What factors are driving and restraining the teleshopping market?
- Which are the demanding Global Teleshopping Market regions?
- What will be the size of the global market in the coming 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 company and a subsidiary of Universal Data Solutions. We believe in providing information through market intelligence reports, custom business research and primary research. Our research studies are spread across topics across the globe, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis and custom reports that help shape winning business strategies for our clients.
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