Global Home Shopping Market Forecast 2024-2033: Estimated Market Size And Growth Rate

September 20, 2024 by The Business Research Company

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The home shopping market has seen rapid growth, with its size increasing from $4,344.28 billion in 2023 to $5,003.96 billion in 2024, reflecting a compound annual growth rate (CAGR) of 15.2%. This growth is attributed to the rise of television shopping channels before the internet era, the expansion of e-commerce platforms, the proliferation of smartphones, increased disposable income, and the development of direct marketing strategies. Looking ahead, the market is expected to grow to $8,886.95 billion by 2028 at a CAGR of 15.4%. This projected growth is driven by growing consumer awareness of sustainability, integration of shopping features into social media platforms, increased spending on social media advertisements, rising urbanization, and a growing 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), increased artificial intelligence (AI)-driven personalization, rapid digitalization, high adoption of online shopping, technological developments, and the adoption of safe payment systems.

The growing e-commerce activities are set to boost the home shopping market. E-commerce, involving the buying and selling of goods online, is flourishing due to widespread high-speed internet, better logistics, and secure online payment systems. E-commerce platforms enhance the shopping experience, attracting a wider customer base and optimizing operations. For example, the United States Census Bureau reported that total e-commerce sales reached $1,118.7 billion in 2023, marking a 7.6% increase from 2022. Consequently, the rise in e-commerce is driving the growth of the home shopping market.

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What Are The Key Trends That Influence Home Shopping Market Share Analysis?

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.

Which Market Players Are Driving Growth In The Home Shopping Market?

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.

How Is The Global Home Shopping Market 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

Read The Full Home Shopping Market Report Here
https://www.thebusinessresearchcompany.com/report/home-shopping-global-market-report

The Home Shopping Global Market Report 2024 provides an overview of the home shoppingmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The home shopping market forecast analyzes home shopping market size, home shopping market share, leading competitor and their market positions.

The Table Of Content For The Home Shopping Market Include

1. Home Shopping Market Executive Summary
2. Home Shopping Market Segments
3. Home Shopping Market Size And Template Market Growth Rate
4. Key Home Shopping Market Trends
5. Major Home Shopping Market Drivers
……
25. Key Mergers And Acquisitions In The Home Shopping Market
26. Top Home Shopping Companies
27. Home Shopping Market Opportunities And Strategies
28. Home Shopping Market, Conclusions And Recommendations
29. Appendix

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