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.
Global Home Shopping Market Key Driver
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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Global Home Shopping Market Segments
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
By Geography:The regions covered in the home shopping market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
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.
Major Home Shopping Industry Players
Walmart Inc., Amazon.com Inc., JD.com Inc., Alibaba Group Holding Limited, Majid Al Futtaim, eBay Inc., Flipkart Private Limited, 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.
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Home Shopping Market Overview
Home shopping refers to the practice of purchasing goods and services from home, typically through television networks, online retailers, or catalogs. It offers convenience, a wide range of products, and often competitive pricing, catering to the growing demand for ease and efficiency in shopping.
Home Shopping Global Market Report 2023 provides data on the global home shopping market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The home shopping market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
