The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
— The Business Research Company
LONDON, GREATER LONDON , UK, November 3, 2023 /EINPresswire.com/ — The global subscription e-commerce market, valued at $119.4 billion in 2022, is expected to reach $196.35 billion in 2023, displaying an impressive compound annual growth rate (CAGR) of 64.4%. Despite the disruptions caused by the Russia-Ukraine war, including economic sanctions, commodity price surges, and supply chain disruptions, the subscription e-commerce market is anticipated to maintain robust growth, with projections reaching $1482.11 billion by 2027, sustaining a CAGR of 65.8%.
• Types of Subscriptions: Service Subscription, Subscription Box, Digital Content Subscription, Other Subscriptions
• Payment Mode: Online
• End Users: Women, Kids
• Applications: Beauty and Personal Care, Food and Beverage, Clothing and Fashion, Entertainment, Health and Fitness, Other Applications
Key players in the subscription e-commerce sector, including Amazon, Unilever, and Netflix, are actively engaging in strategic partnerships and collaborations, aiming to strengthen their market presence and remain competitive in the market.
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Rapid Growth of Online Shopping Driving Market Expansion
Consumers are increasingly favoring online shopping over traditional retail purchases, particularly those attracted to subscription services with added benefits. Online shopping offers enhanced convenience, reduced reliance on physical store visits, cost savings, a wide range of products, price comparisons, detailed product information, and improved customer satisfaction.
Strategic Partnerships and Collaborations Shaping Market Trends
A key trend observed in the subscription e-commerce market is the proliferation of strategic partnerships and collaborations among leading e-commerce platforms. Collaborative endeavors enable these companies to expand their market share and gain a competitive advantage. For example, Adobe and FedEx joined forces in April 2021 to integrate ShopRunner, an e-commerce platform and FedEx subsidiary, with Adobe Commerce to drive innovation in e-commerce. Similarly, TikTok announced a global partnership with Shopify in October 2020, enabling TikTok to venture into e-commerce and integrate additional in-app shopping features, while granting Shopify access to the younger TikTok audience for increased sales.
Regional Analysis and Market Dynamics
As of 2022, North America has emerged as the largest region in the subscription e-commerce market, with Asia-Pacific showcasing the fastest growth. The comprehensive market analysis encompasses a thorough evaluation of market dynamics across key regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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Subscription E-commerce Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Subscription E-commerce Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on subscription e-commerce market size, subscription e-commerce market drivers and trends, subscription e-commerce market major players, subscription e-commerce market competitors’ revenues, market positioning, and subscription e-commerce market growth across geographies. The subscription e-commerce market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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