TV Shopping Market Size, Share, Growth, and Industry Growth, By Type (Jewelry, Apparel, Home Appliances, Kitchen, and Others), by Application (Male and Female), Regional Forecast to 2028

Updated On: 13 March 2023

REPORT OVERVIEW

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The global TV shopping market size is USD 220 billion in 2021 and the market is projected to touch USD 312 billion by 2027, with a growing compound annual growth rate (CAGR) of 6.0% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with TV shopping experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

TV shopping is also known as direct response television shopping (DRTV), which means buying activities through the internet or over a phone call, reverting to TV advertising. It includes products and services. These advertisements offer products and services such as accessories, electronic products, personal care products, home furnishing, and healthcare products. These advertisements have a wide range of viewership and introduce quality products. The advertisements launching branded and high-quality products are estimated to propel sales. Buying time slots on popular channels for informative commercials is estimated to serve large home audiences. Buying services and products over a call also reduces human contact. 

The outbreak of the pandemic created a huge concern about humans getting into contact due to its vital spread because of human contacts. To be shown on television, the seller produces a brief commercial film. It offers a thorough explanation of how the product works and a long list of phone numbers to call in each city. Anyone happy with the item's price can phone the seller and place an order. Deliveries of the goods to customers are made by courier or value-added post (v.p.p.). The main advantage of shopping via teleshopping is a convenience for the customer. Customers don't need to go to the store to buy the item. This can help you save money, time, and energy. Customers can make payments using their credit cards.

COVID-19 Impact: Change in Consumer Buying Behavior Hampered Growth

Due to lockdown and a shift in customer purchasing behavior around the world, the COVID-19 pandemic has resulted in falling market share for footwear, apparel and accessories, electronics, craft materials, and other product groups. It's anticipated that the temporary closure of manufacturing and distribution facilities will slow market expansion. However, the grocery market has seen an increase in demand due to consumer spending on vital goods throughout the pandemic.

LATEST TRENDS

"Rising Number of Televisions in Urban and Rural Areas to Drive Market Trends"

The TV shopping market growth is estimated to grow owing to the consistently rising number of TVs in rural and urban areas. The upgrading standard of living coupled with consumers' increasing preference and interest in online shopping to augment the adoption of TV shopping. The rising standard of living is leading to a change in consumer preference. It offers convenience and eases placing orders while sitting at home. The purchase rate through the telephone is consistently rising as the population is adopting a lazy lifestyle, which is estimated to propel the TV shopping market growth. 

Segmentation

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• By Type Analysis

By type, the market is segmented into jewelry, apparel, home appliances, kitchen, and others. .

The apparel and accessories segment is expected to lead the market due to its increasing demand. The availability of the latest and designer fashion clothes is surging sales. 

• By Application Analysis

Based on application, the market is classified into male and female.

DRIVING FACTORS

"Growing Digitization to Propel Product Demand"

Increased smart TV usage and rising regional demand for home shopping channels are anticipated to drive market expansion. Due to global customer demand for more accessible shopping options, domestic goods made up the greatest portion of applications in 2017. Due to rising levels of disposable income and expanding regional e-commerce penetration, this segment is likewise anticipated to experience the largest growth between 2018 and 2030.

"Availability of Various Payment Methods to Surge Market Growth"

Numerous payment alternatives and the existence of channels specifically for TV shopping is anticipated to give significant growth potential throughout the projection period. Numerous technological developments have created numerous payment methods, including online banking, mobile wallet payments, debit cards, and credit cards. Due to the relative ease of transactions using methods other than COD and increased security, this has expanded consumer spending capability. Additionally, the 24/7 teleshopping-specific programming channels foster a very profitable growth environment for the market. 

RESTRAINING FACTORS

"Rising Number of Mobile Applications and Websites to Challenge Market Growth"

E-commerce companies have expanded significantly in recent years. The main elements that have contributed to considerable ecommerce company traction include the convenience of access through mobile devices, the availability of different mobile payment gateway channels, and the rising use of phablets, laptops, and desktops. This has resulted in a large loss of customers for the teleshopping industry, primarily due to consumers' growing preference for product-on-demand. Through the forecast period, this is anticipated to impede the entire industry's growth continually. Furthermore, these networks have a reputation for deceiving customers regarding the characteristics of the products. This has resulted in a considerable loss of consumer confidence in the product offerings, posing a serious challenge to the sector.

REGIONAL INSIGHTS

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"Asia Pacific to Lead the Market Due to the Rising Demand for Smart TVs"

Asia Pacific is expected to lead the TV shopping market share because of the growing demand for smart TVs from emerging economies such as India, China, and Japan. The rapid rise in disposable income of the population serves growth opportunities to the region. 

The Middle East and Africa are expected to show significant growth in the global market owing to the steady adoption of smart TVs in the region. 

KEY INDUSTRY PLAYERS

"Key Players Focusing On Innovative Technology Development to Grow in Market"

To fulfill the rising demand for products, major players are concentrating on R&D and launching cutting-edge items. Companies are also working with local, small manufacturers to broaden their geographic reach and customer base in addition to investing in new manufacturing facilities to boost production capacity. The businesses are forming alliances, merging, and buying other businesses in an effort to broaden their influence across nations and regions and increase their product line.

List of Market Players Profiled

• Ideal Shopping Direct Limited (U.K.)
• QVC UK (U.K.)
• UKHS (U.K.)
• Price Crash (U.S.)
• GemsTV (U.K.)
• Ideal World (U.K.)

REPORT COVERAGE

The market research study offers thorough information on numerous market aspects. The growth drivers, restraints, geographical analysis, competitive environment, and challenges are a few of them. Additionally, it provides an analytical analysis of market trends and projections for stem cells to show potential investment areas. From 2021 through 2027, the market is objectively assessed to determine its financial viability. The report's data was compiled using various primary and secondary sources.