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The home and garden products b2c e-commerce market is poised to grow by USD USD 30,189.84 million accelerating at a CAGR of 10.53% between 2023 and 2027. Additionally, the market is fragmented in nature and shows a YOY growth of 9.96%. The report covers diverse dimensions such as the market size of forecast and historic data, influential drivers, analysis of prominent vendors, and evolving trends, presenting a comprehensive outlook on the global market scenario.
The growth of the market depends on several factors, including the rise in online spending and smartphone penetration, the unproblematic return policy, product comparison, and cash on delivery, and the availability of easy payment options on the e-commerce platform. The comprehensive report of the home and garden products b2c e-commerce market offers crucial insights of the industry's changing dynamics, helping businesses to identify growth opportunities in the constantly evolving digital retail landscape.
The market is Segmented as
1. Product- The product segment is classified into home decor, home improvement products, and others.
2. End-User- The end-user segment is classified into commercial and household.
Home and Garden Products B2C E-commerce Market market size, Request for Free Report Sample
The global online home decor market is thriving due to increased online spending and smartphone usage.
Expanded internet access, coupled with the popularity of smart device shopping, is driving growth. Tablets with larger interfaces are preferred for online purchases, supported by detailed product information on websites. Secure online payments, free delivery, and user-friendly website designs contribute to market expansion. The emphasis on mobile commerce is evident with major retailers like Amazon, Snapdeal, Flipkart, and Alibaba offering mobile applications, highlighting the pivotal role of rising online sales in the market's success.
Omnichannel retailing, a major market trend, enables manufacturers to sell products through both offline and online channels.
Major retailers view online platforms as additional sales channels, expanding their market presence and brand awareness. To reach a broader audience and boost revenue, vendors are integrating offline and online presence through an omnichannel strategy. This strategic move is fueled by changing customer shopping patterns and the growing number of digitally-driven customers, leading to a substantial increase in online sales of home and garden products in the forecast period.
The market share growth by the home decor segment will be significant during the forecast period. This segment includes home furnishing products such as home textiles, furniture, and floor coverings. It also includes other home decor products such as lamps, fixtures, wallpapers, candles, paintings, clay pots, clocks, antiques, art pieces, and indoor flowers and plants that are available online.
The home decor segment shows a gradual increase in the market share of USD 17,176.36 million in 2017 and continued to grow until 2021. The availability of detailed product catalogs with defined product categories on most websites and sales portals is an important factor that enhances the consumer experience. The ease and convenience of shopping on online platforms bridge the gap between offline and online retailing. However, in the furniture category, the market is yet to penetrate the potential consumer segments. Many customers still prefer purchasing expensive furniture from physical stores. E-retailers provide a wide variety of products, product bundling, price discounts, and exclusive offers, contributing to the sale of home decor products. The growth of the real estate and residential construction industry is one of the key factors driving the growth of the home decor segment. Moreover, the availability of various home and garden products B2C e-commerce vendors with wide product offerings is providing customers with a wide range of furniture and furnishings to choose from. The integration of various technologies, such as AR/VR, by vendors, has helped customers in making smart purchase decisions. Such initiatives will drive the growth of the home decor product segment during the forecast period.
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APAC is estimated to contribute 55% to the growth of the global market during the forecast period. The APAC market is poised for growth in the forecast period, with significant contributions from key countries such as China, Japan, and South Korea. China, a rapidly growing economy, benefits from globalization, increased spending power, and changing consumer preferences. The surge in internet penetration and smartphone usage fuels the popularity of online shopping, with third-party e-retailers playing a pivotal role in future market expansion. However, the challenge of counterfeit products remains prevalent.
Japan and South Korea, among the leading countries, are expected to experience market growth driven by factors such as internet and smartphone penetration, high spending power, omnichannel retailing, and increased digital advertising. India is also a rapidly growing e-commerce market in the region, driven by a growing number of internet and smartphone users. Additionally, countries like Vietnam, the Philippines, and Thailand are witnessing the growth of the e-commerce industry. Key vendors are focusing on omnichannel sales and expanding market reach through e-commerce websites, contributing to the overall growth of the APAC market in the forecast period.
Inter IKEA Systems B.V. - The company operates under multiple segments including franchise, range, and supply.? The company's key offerings include home and garden products such as rugs, lighting, pots, and parasols.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
High overhead costs, stemming from challenges in logistics management, pose a major obstacle to market growth. Issues like insufficient postal addresses and logistical complications, such as late deliveries, impact the market negatively, increasing costs and diminishing profit margins. The lack of standard delivery services also harms the brand image and international online retailers face significant losses. Hiring additional field workers to enhance delivery services further escalates labor costs, eroding profits. To address these challenges, e-retailers should focus on efficient product distribution by partnering with regional third-party logistics providers, preventing extra labor costs and safeguarding profit margins while delegating problem-solving responsibilities. These measures are crucial for overcoming obstacles and fostering market growth.
The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth. For details analysis BUY FULL REPORT.
Home And Garden Products B2C E-commerce Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2022 |
Historic period |
2018 - 2022 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.53% |
Market growth 2023-2027 |
USD 30,189.84 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
9.96 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 55% |
Key countries |
US, China, Japan, UK, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Amazon.com Inc., BAUHAUS E Business Gesellschaft fur Bau und Hausbedarf mbH and Co. KG, Bed Bath and Beyond Inc., Costco Wholesale Corp., Godrej and Boyce Manufacturing Co. Ltd., Golden Acre Garden Sentre, Hennes and Mauritz AB, Inter IKEA Systems B.V., Lowes Co. Inc., Lulu and Georgia, Overstock.com Inc, Penney OpCo LLC, Target Corp., Tesco Plc, The Home Depot Inc., Ugaoo Agritech Pvt. Ltd., Walmart Inc., Wayfair Inc., Williams Sonoma Inc., and Reliance Industries Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
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