Mar 7, 2023
Solid Growth Forecast For Home And Garden eCommerce Market
The global home and garden products business-to-consumer (B2C) eCommerce market is expected to grow by US$30.2 billion by 2027, an annual compound growth rate (CAGR) of 10.53 per cent from 2022 to 2027, says a report from Technavio. Key drivers include the increase in online spending and the availability of easy payment options and growing mCommerce platforms. Technological advancements in eCommerce platforms have led many retailers to focus on providing the most convenient service to their customers like making use of artificial intelligence (AI) to leverage the operations of the eCommerce platform further. The home decor product segment will account for a significant share of the market's growth during the forecast period. This segment includes home furnishing products like home textiles, furniture, and floor coverings, lamps, fixtures, wallpapers, candles, paintings, clay pots, clocks, antiques, art pieces, and indoor flowers and plants which are available online. The integration of various technologies, such as artificial reality (AR) and virtual reality (VR) by vendors, has helped customers in making smart purchase decisions. These initiatives will drive the growth of the home decor product segment during the forecast period.
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