The home shopping global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Home Shopping Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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.
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Scope Of Home Shopping Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Home Shopping Market Overview
Market Drivers –
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
Market Trends –
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 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
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Regional Insights –
Asia-Pacific was the largest region in the home shopping market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the home shopping market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the home shopping market are Walmart Inc., Amazon.com Inc., JD.com Inc., Alibaba Group Holding Limited, Majid Al Futtaim, eBay Inc., Flipkart Private Limted, HSE Home Shopping GmbH, Croma, Vaibhav Global Limited, Meesho, Naaptol Company, Shop LC, Hammacher Schlemmer, American Swan, ShopHQ, HomeShop18, Ubuy, Koovs PLC, Tata Cliq, Planet Shopping, Sears, Roebuck and Co.
Table of Contents
1. Executive Summary
2. Home Shopping Market Report Structure
3. Home Shopping Market Trends And Strategies
4. Home Shopping Market – Macro Economic Scenario
5. Home Shopping Market Size And Growth
…..
27. Home Shopping Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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