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.
Social Commerce Market Report Overview
The Social Commerce market report is a comprehensive analysis of the Social Commerce Market, drawing on both primary and secondary research methods. It provides a detailed analysis of the global and regional market size and share, as well as an in-depth analysis of the Social Commerce market dynamics and regional insights. This makes the report an invaluable resource for investors and other stakeholders interested in the Social Commerce market.
Social Commerce Market Report Scope and Research Methodology
The report provides a detailed analysis of the Social Commerce market dynamics, including opportunities, restraints, challenges, and drivers. The primary and secondary research methods were used to collect and verify the data for the Social Commerce market report.
Primary research involved interviews with key players in the Social Commerce industry, including companies, suppliers, and distributors. The interviews were conducted to understand the current state of the Social Commerce market, as well as the opportunities and challenges facing the industry.
Secondary research involved a review of industry publications, government reports, and other relevant sources. This research was used to gather additional information about the Social Commerce market, such as market size, trends, and regulations.
The report also includes a SWOT analysis of the Social Commerce industry. The SWOT analysis identifies the strengths, weaknesses, opportunities, and threats facing the industry. This information can be used by businesses to develop strategies to capitalize on the opportunities and mitigate the threats.
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Social Commerce Market Dynamics
One of the main factors propelling the global expansion of the social commerce market is the rising use of internet services and smartphone adoption, which improves the accessibility of various online platforms for social commerce. As of January 2022, there were 4.66 billion active internet users worldwide, or 59.5 percent of the world’s population, according to the Telecom Regulatory Authority. According to the investor, social commerce is a lucrative area that will likely spur the expansion of the company.
Retailers worldwide are using social media platforms like Facebook, Instagram, and Twitter for product buying and selling, as the number of social media users rises. Over 3.67 billion individuals used social media globally in 2020, according to reports.
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Social Commerce Market Regional Analysis
The report includes a detailed analysis of several key countries including Social Commerce market size, CAGR, drivers, restraints, opportunities, challenges and a detailed analysis of key players. The regions and the countries covered in the report are:
- North America (U.S., Canada, Mexico)
- Europe (UK, Germany, France, Spain, Italy, Rest of Europe)
- Asia Pacific (China, India, Japan, Australia, South Korea, ASEAN Countries, Rest of APAC)
- South America (Brazil)
- The Middle East and Africa
Social Commerce Market Segmentation
by Business Model
Business to Consumer (B2C)
Business to Business (B2B)
Consumer to Consumer (C2C)
The Business to Consumer (B2C), Business to Business (B2B), and Consumer to Consumer (C2C) segments of the social commerce market are based on the business model.
In 2020, the Business to Consumer (B2C) category accounted for 53.6% of the market share, which was the largest. The B2C approach simplifies business management by doing away with the third-party client. On social commerce sites, customers can view, choose, and place an order for a product while evaluating other users’ assessments based on the same criteria. With the business-to-consumer model, there is no need for an intermediary, and clients can purchase goods at a discount. These are a few of the variables influencing the growth of social commerce in this market.
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
The Personal and Beauty Care, Apparel, Accessories, Home Products, Health Supplements, Food and Beverage, and Others segments of the Social Commerce Market are based on the Product Type. In 2020, the Apparel segment accounted for 24.3% of the total market share. Clothing is one of the most popular things on social media platforms, and there are many sellers selling it all over the world. The personal and beauty care industry is anticipated to grow at a noteworthy rate of 13.56% over the course of the forecast period. The market for these products is being driven by consumers’ growing preferences or their online purchases.
Social Commerce Market Key Players
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.
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Key Questions answered in the Social Commerce Market Report are:
- What is Social Commerce ?
- What was the Social Commerce Market size in 2022?
- What will be the CAGR of the Social Commerce market during the forecast period?
- Which region held the largest Social Commerce market share in 2022?
- What are the opportunities for the Social Commerce Market?
- What are the factors driving the Social Commerce market growth?
- What factors are hampering the Social Commerce market growth?
- Which company held the largest share in the Social Commerce market?
- What key trends are likely to emerge in the Social Commerce market in the coming years?
- What growth strategies are the players considering to increase their presence in Social Commerce Market?
Key offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis of segments and sub-segments
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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