Global Home Shopping Market Analysis 2024 – Estimated Market Size And Key Drivers

The Home Shopping Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Home Shopping Global Market Report 2024, The home shopping market size has grown rapidly in recent years. It will grow from $4,344.28 billion in 2023 to $5,003.96 billion in 2024 at a compound annual growth rate (CAGR) of 15.2%. The growth in the historic period can be attributed to rise of television shopping channels, before the internet era, the growth of e-commerce platforms, the proliferation of smartphones, increasing disposable income, and the development of direct marketing strategies.

The home shopping market size is expected to see rapid growth in the next few years. It will grow to $8,886.95 billion in 2028 at a compound annual growth rate (CAGR) of 15.4%. The growth in the forecast period can be attributed to growing consumer awareness of sustainability, integration of shopping features into social media platforms, increasing spend on social media advertisements, rising urbanization, and increasing in the number of internet users. Major trends in the forecast period include the integration of technologies such as augmented reality (AR), virtual reality (VR), and mixed reality (MR), increasing artificial intelligence (AI)-driven personalization, rapid digitalization, and high adoption of online shopping, technological developments, and adopting safe payment systems.

The increasing e-commerce activities are expected to propel the growth of the home shopping market going forward. E-commerce, also known as electronic commerce, refers to the buying and selling goods and services over the internet. The increasing e-commerce activities are due to the widespread availability of high-speed internet, improved logistics and shipping solutions, and increasing secure and efficient online payment gateways. E-commerce platforms can offer a superior and convenient shopping experience, attract a broader customer base, and optimize their operations for growth and efficiency. For instance, in February 2024, according to the United States Census Bureau, a US-based government agency, total e-commerce sales were $1,118.7 billion in 2023, an increase of 7.6% (±1.2%) from 2022. Therefore, the increasing e-commerce activities drive the home shopping market

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The home shopping market covered in this report is segmented –

1) By Product Type: Groceries, Apparels And Accessories, Footwear, Personal And Beauty Care, Furniture And Home Décor, Electronic Goods, Other Product Types
2) By Payment Mode: Card Payments, Digital Wallets, Bank Transfers, Cash Payments, Other Payment Modes
3) By market Type: Teleshopping, E-Commerce And Mobile Shopping, Other market Types

Major companies operating in the home shopping market are focused on technological advancements, such as immersive digital shopping experiences, to explore and buy products from the comfort of their homes. An immersive digital shopping experience is a multi-sensory experience that combines various interactions to create intuitive and emotional value for the user. This type of experience can be presented through different interfaces, including flat screens, natural interfaces (voice, spatial, gesture-based, auditory, or olfactory), and extended reality (3D, augmented, virtual, or mixed reality) technologies. For instance, in May 2024, Walmart, a US-based retail corporation operating a hypermarket chain, launched Walmart Realm, an immersive digital shopping platform. It lets customers explore virtual environments themed around various styles and product categories. Walmart Realm includes influencer-led virtual shops, gamification elements such as mini-games and collectible rewards, and partnerships with content designers and platform providers such as Sawhorse and Emperia.

The home shopping market report table of contents includes:

1. Executive Summary
2. Home Shopping Market Characteristics
3. Home Shopping Market Trends And Strategies
4. Home Shopping Market – Macro Economic Scenario
5. Global Home Shopping Market Size and Growth
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32. Global Home Shopping Market Competitive Benchmarking
33. Global Home Shopping Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Home Shopping Market
35. Home Shopping Market Future Outlook and Potential Analysi
36. Appendix