Hamburg-based secondary market research firm yStats.com has released a new report titled “Global Consumer Electronics B2C E-Commerce Market 2018”. According to this report’s findings, online retail consume electronics sales worldwide are projected to maintain a single-digit growth rate between 2018 and 2023. The publication also reveals the top global E-Commerce market trends and other statistics for online retail of electronics.
The online retail consumer electronics market maintains positive dynamics.
Global B2C E-Commerce of consumer electronics is predicted to maintain a compound annual growth rate in the single-digits between 2018 and 2023, according to market forecasts cited in this report by yStats.com. Continued growth is expected due to the increasing number of Internet connections, tech-savvy consumers and growing interest to the new electronics products and trends. One more important driving factor is an increase in the level of customers’ trust in buying high-value products on the Internet, which results from offering a wider range of payment options and by improving delivery conditions.
B2C E-Commerce electronics sales in China and the USA exceed by far the sales volumes of other countries.
The largest value of online retail consumer electronics sales is generated by Asia and North America, as two regions that are the main producers and consumers of consumer electronics product worldwide, as the yStats.com report reveals. China is the largest online retail consumer electronics market globally and is predicted to remain the leader in sales for at least the next 5 years. Consumers in China prefer to shop for electronic products from multichannel retailers, such as Guomei and Suning, and also from pure online retailers, like JD.com. B2C E-Commerce sales volume in the USA is the second largest in the world. The category “Computer & Consumer Electronics” is forecasted to generate the highest online retail sales in the country by the end of 2018. U.S.-based bestbuy.com was the leading electronics retailer globally in term of website visits, as of October 2018.