Social Commerce Market By Business Model (Business to Consumer (B2C), Business to Business (B2B), Consumer to Consumer (C2C)), By Product Type (Personal and Beauty Care, Apparel, Food and Beverages, Home Products, Health supplements, Consumer Electronics, Others), By Sales Channel (Video Commerce (Live Stream + Prerecorded), Social Network-led Commerce, Social Reselling, Group Buying, Product Review Platforms): Global Opportunity Analysis and Industry Forecast, 2023-2032
The global social commerce market was valued at $784 billion in 2022, and is projected to reach $9864.6 billion by 2032, growing at a CAGR of 29% from 2023 to 2032.
The utilization of social networking sites such as Instagram, Twitter, Facebook, and others, to allow the online purchase and sale of items and services is referred to as social commerce. In simple terms, it is a type of e-commerce in which social media platforms serve as the principal method of transaction. The social commerce market is a fast-expanding part of the e-commerce business, driven by the increasing acceptance of social media sites and consumers' desire to purchase online. Social commerce allows companies to reach out and connect with customers via social media sites, resulting in a more personalized and dynamic buying experience.
The smartphone has become an integral part of a consumer's life, and its popularity has grown over the past two decades. The growth of technology and fierce competition between smartphone manufacturers have paved the way for easy availability of smartphones at an affordable price, which is increasing the penetration of the product in different regions of the globe. According to ncbi.nlm.nih.gov in 2021, 6.4 billion individuals around the globe use a smartphone, and the growth rate is expected to see a significant rise in the upcoming years. The smartphone offers a unique shopping experience to consumers as online retail companies are launching their user-friendly websites with the integration of the latest technology such as the augmented reality that offers easy usage and a detailed experience. Major players such as OnePlus, and Oppo are collaborating with e-commerce companies and offering in-built apps on their mobile which offers them the chance to browse different products through the apps and simplify their shopping experience. All the above factors drive the popularity & adoption of using e-commerce websites and fueling the social commerce market growth.
The social commerce market is segmented into the business model, product type, sales channel, and region. By business model, the market is classified into business to consumer (B2C), business to business (B2B), and consumer to consumer (C2C). By product type, the market is classified into personal and beauty care, apparel, food & beverages, home products, health supplement, consumer electronics, and others. By sales channel, the market is divided into video commerce (live stream + prerecorded), social network-led commerce, social reselling, group buying, and product review platform. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Spain, Italy, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and the rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, Turkey, and rest of LAMEA).
Players operating in the global social commerce market have adopted various developmental strategies to expand their social commerce market share, increase profitability, and remain competitive in the market. Key players profiled in this report include Verint Systems Inc., Snap, Inc., Trell Experience Pvt Ltd., Etsy, Inc., Poshmark, Inc., Inmobi Pte Ltd., Yunji Inc, Meta Platforms, Inc., Twitter, Inc., Alibaba Group Holding Limited, Pinduoduo Inc., ByteDance, Amazon.com, Inc., and Pinterest, Inc.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the social commerce market analysis from 2022 to 2032 to identify the prevailing social commerce market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the social commerce market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global social commerce market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy Business ModelBusiness to Consumer (B2C)
Business to Business (B2B)
Consumer to Consumer (C2C)
By Product TypePersonal and Beauty Care
Sub-type
Skin and Sun Care
Haircare
Deodorant and Fragrances
Makeup and Color Cosmetics
Apparel
Sub-type
Clothing
Footwear
Food and Beverages
Sub-type
Food
Beverages
Home Products
Health supplements
Sub-type
Functional Food
Dietary Supplement
Consumer Electronics
Others
By Sales ChannelVideo Commerce (Live Stream + Prerecorded)
Social Network-led Commerce
Social Reselling
Group Buying
Product Review Platforms
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Netherlands
Italy
Spain
Rest of Asia-Pacific
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
Turkey
Rest of LAMEA
Key Market Players
Alibaba Group Holding Limited
Amazon.com, Inc.
ByteDance
Etsy, Inc.
InMobi Pte Ltd
Meta Platforms, Inc.
Pinduoduo Inc.
Pinterest, Inc.
Poshmark, Inc.
Snap, Inc.
Tencent Holdings Limited
Trell Experiences Pvt Ltd.
Twitter, Inc.
Verint Systems Inc.
Yunji Inc.
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