Social commerce currently accounts for 10% of e-commerce revenues, but in three years it will account for 17%. Surprisingly, established retail brands in established countries like the United States, United Kingdom, and Europe lag well behind emerging nations in capitalizing on social commerce opportunities. Mobile-first nations such as China, India, and Brazil, which haven’t gone through the transition from physical retail to e-commerce, have jumped to social commerce more faster than Western Europe and North America. The Social Commerce Market research provides an in-depth study of the market and includes valuable insights, facts, historical data, and market statistics that are statistically supported and industry-validated. Estimates are also provided based on a suitable set of assumptions and procedures.
Social Commerce Market Overview:
Social Commerce Market Research Report investigated the current status of definitions, classifications, applications, and the industrial chain structure. The research provides impartial professional commentary on the present market state, prior market performance, production and
consumption rates, demand and supply ratios, and forecast income generation predictions. The Social Commerce market study also includes information on the leading businesses participating in the Social Commerce sector strategic goals and company growth objectives. Mergers and acquisitions, government and corporate transactions, partnerships and collaborations, joint ventures, brand marketing, and product launches are among the tactics considered in the research. To summarise what has previously been said, the study provides a comprehensive picture of the Social Commerce sector in both global and regional markets.
Social Commerce Market size was valued at US$ 419.3 Bn. in 2022 and the total revenue is expected to grow at CAGR 28.93% through 2023 to 2029, the Social Commerce Market is reaching nearly US$ 2483.7 Bn.
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COVID-19 Impact on Social Commerce market:
The COVID-19 epidemic has had a significant impact on the global Social Commerce industry. Social Commerce Production facilities have been halted due to the global economic slump and a lack of manpower. The COVID-19 pandemic has led in a significant and extended drop in production utilisation, and travel prohibitions and facility closures have kept personnel away from their facilities, causing the Social Commerce market to decelerate in 2020. The negative impact of COVID-19 on the Social Commerce market, on the other hand, is expected to be brief, and the sector is expected to revive fast by early 2021, owing to robust demand for Social Commerce .
Social Commerce Market Drivers:
Retailers throughout the world are increasingly adopting social media platforms such as Facebook, Instagram, and Twitter to sell and buy products. According to projections, approximately 3.67 billion individuals worldwide would be utilizing social media by 2020. Furthermore, the average internet user spends 144 minutes every day on social media. As of now, India has approximately 0.340 billion social media users, making it the world’s largest user base. With 0.180 billion users in 2020, India has more Instagram users than the United States and Brazil combined. 28% of millennials are influenced by social media recommendations to purchase various things.
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Social Commerce Market Segmentation:
by Business Model
Business to Consumer (B2C)
Business to Business (B2B)
Consumer to Consumer (C2C)
by Product Type
Personal and Beauty Care
Apparel
Accessories
Home Products
Health Supplements
Food and Beverage
Others
by Platform/Sales Channel
Video Commerce (Live stream + Prerecorded)
Social Network-led Commerce
Social Reselling
Group Buying
Product Review Platforms
by Device Type
Smartphone
Laptop
Tablets
by End-use
Individual
Commercial
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Key Players:
The study includes a thorough examination of the Social Commerce market and presence in various industries and countries. By doing a detailed geographical examination of the industry, the research analyst hopes to uncover hidden development potential that may be used by firms in various regions of the world. Social Commerce Market research gives precise information that helps market participants to compete successfully with their most important competitors in terms of growth, sales, and other critical factors. Significant market components such as market Drivers and obstacles are distinguished from critical development prospects and industry trends in the research study.
1. Facebook
2. Etsy, Inc.
3. Fab
4. PayPal Payments
5. Pinterest
6. Poshmark, Inc.
7. Reddit Inc.
8. SINA Corp.
9. Taobao
10. Twitter, Inc.
11. Alibaba (China) Co., Ltd.
12. iQIYI
13. LinkedIn Corporation
14. Renren, Inc.
15. Tencent – Qzone
16. Tencent Holdings Ltd.
17. Tumblr, Inc.
18. Weibo Corporation
19. Yahoo!, Inc.
Regional Analysis:
The region section of the research additionally covers important market influencing factors and changes in market regulation that have an influence on the market present and future trends. Some of the primary elements utilized to analyse the market scenario for various locales are new sales, replacement sales, national demography, regulatory activities, and import-export tariffs. Furthermore, while offering forecast analysis of national data, the existence and availability of global brands, as well as the challenges they face owing to strong or weak competition from local and domestic brands, as well as the impact of sales channels, are considered.
Key Questions Answered in the Social Commerce Market Report are:
- What is Social Commerce ?
- What is the expected CAGR of the Social Commerce market during the forecast period?
- Which region held the largest Social Commerce market share in 2022?
- What are the major drivers of the Social Commerce Market?
- What are the Social Commerce Market segments?
- What factors are expected to challenge the market growth during the forecast period?
Key Offerings:
- A detailed market overview
- Market Share, Size & Forecast by Revenue | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by segments and sub-segments
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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