Electronic Product Retailing Market Report 2024

The electronic product retailing market size has grown strongly in recent years. It will grow from $1.45 trillion in 2023 to $1.53 trillion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The expansion during the historical period can be ascribed to the rise in internet usage, increasing consumer electronics demand, higher disposable incomes, a surge in consumer interest in technology and gadgets, and the expansion of e-commerce platforms.

The electronic product retailing market size is expected to see strong growth in the next few years. It will grow to $1.93 trillion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The anticipated growth can be linked to the increasing demand for personalized shopping experiences, the rising prevalence of mobile commerce, heightened awareness of cybersecurity, a growing appetite for luxury and premium electronic goods, and the increasing popularity of entertainment and gaming. Key trends for the forecast period include advancements in technology, subscription-based electronic services, the proliferation of IoT devices, the adoption of buy now, pay later schemes, and the rise of smart packaging solutions.

The growing internet penetration is expected to drive the expansion of the electronic product retailing market in the foreseeable future. Internet penetration, which measures the percentage of households or individuals with access to the Internet in a given country, reflects the extent of connectivity within a population. This rise in internet penetration is facilitated by the decreasing cost of internet access, enabling the adoption of new access devices, enhancing productivity, and connecting a wider array of devices. Internet penetration has revolutionized electronic product retailing by extending market reach, enhancing customer engagement, and improving operational efficiency. Retailers that harness these benefits can more effectively meet customer demands, optimize operations, and remain competitive in the evolving digital landscape. For example, according to the International Telecommunication Union in February 2024, global internet users increased from 5.1 billion in 2022 to 5.4 billion in 2023, underscoring the role of increasing internet penetration in driving growth within the electronic product retailing market.

Key players in the electronic product retailing sector are prioritizing the development of advanced technologies, such as retail intelligence solutions, to elevate operational efficiency and enhance customer experiences. Retail intelligence solutions encompass technologies and tools that enable retailers to gather, analyze, and leverage data for informed decision-making and operational optimization. For instance, Flipkart Private Limited introduced Flipkart Commerce Cloud in October 2023, a platform offering robust retail intelligence solutions tailored for retailers and e-commerce enterprises. This innovative platform integrates sophisticated data analytics capabilities to deliver comprehensive insights into consumer behavior, market trends, and inventory dynamics. It offers customizable solutions adaptable to diverse business requirements, thereby improving operational efficiency and scalability. AI-driven predictive analytics empower proactive decision-making and personalized customer engagement strategies, fostering customer loyalty and maximizing sales opportunities.

In February 2024, Walmart Inc. acquired VIZIO Holding Corp. for $2 billion, a move aimed at strengthening Walmart's leadership in the consumer electronics market. This acquisition integrates Vizio's expertise in televisions and audio equipment with Walmart's expansive retail network and broad customer base. VIZIO Holding Corp., a US-based publicly traded company, specializes in designing and selling televisions and sound bars, leveraging viewer data and advertising to distribute its products through both retail and online channels.

Major companies operating in the electronic product retailing market are Walmart Inc., Amazon.com Inc., Apple Inc., Costco Wholesale Corporation, Microsoft Corporation, Samsung Electronics Co. Ltd., JD.com Inc., Alibaba Group Holding Limited, Dell Technologies Inc., Nestlé S.A., Sony Corporation, Panasonic Corporation, Best Buy Co. Inc., Suning.com Co. Ltd., MediaMarktSaturn Retail Group, Otto Group, Magazine Luiza S.A., JB Hi-Fi Limited, Bic Camera Inc., Vipshop Holdings Limited, Bose Corporation, Sennheiser electronic SE & Co. KG, Smeg UK Ltd.

North America was the largest region in the electronic product retailing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electronic product retailing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the electronic product retailing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Electronic product retailing involves selling consumer electronics and related items through multiple channels, such as physical stores, online platforms, and catalogs. Retailers in this field typically offer services such as product demonstrations, customer support, warranties, and delivery options to improve the shopping experience.

There are two main categories of electronic product retailing business-to-business (B2B) and business-to-consumer (B2C). B2B retailing entails selling products or services directly to other businesses rather than to individual consumers. This type of transaction occurs between companies, such as between a manufacturer and a wholesaler or between a wholesaler and a retailer. Products in this sector include audio equipment, consumer electronics, gaming and entertainment devices, home appliances, office electronics, personal care electronics, and photography and videography gear, which are distributed through both offline and online channels and used in various commercial and residential applications.

The electronic product retailing market research report is one of a series of new reports that provides electronic product retailing market statistics, including electronic product retailing industry global market size, regional shares, competitors with an electronic product retailing market share, detailed electronic product retailing market segments, market trends, and opportunities, and any further data you may need to thrive in the electronic product retailing industry. This electronic product retailing research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The electronic product retailing market includes revenues earned by entities by providing services such as product sales, product demonstrations and trials, after-sales services, and online shopping platforms and related wearable technology, home entertainment systems, gaming consoles and accessories, and networking devices. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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