United Kingdom Social Commerce Market Intelligence and Future Growth Dynamics Databook – 50+ KPIs on Social Commerce Trends by End-Use Sectors, Operational KPIs, Retail Product Dynamics, and Consumer Demographics - Q3 2024 Update

United Kingdom Social Commerce Market Intelligence and Future Growth Dynamics Databook – 50+ KPIs on Social Commerce Trends by End-Use Sectors, Operational KPIs, Retail Product Dynamics, and Consumer Demographics - Q3 2024 Update

According to PayNXT360, social commerce industry in United Kingdom is expected to grow by 26.6% on annual basis to reach US$31,278.79 million in 2024.

The social commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 21.4% during 2024-2029. The social commerce GMV in the country will increase from US$24,712.72 million in 2023 to reach US$82,440.23 million by 2029.

Social commerce in the United Kingdom is rapidly evolving, driven by changing consumer behaviours and technological advancements. Brands increasingly leverage social media platforms to engage with consumers, create immersive shopping experiences, and drive sales. The rise of live shopping, enhanced personalization through data analytics, and the importance of user-generated content are shaping the future of social commerce in the UK. As the market grows, retailers must remain agile and innovative to capitalize on emerging opportunities and navigate the competitive landscape effectively.

Social commerce is rapidly transforming the retail landscape in the United Kingdom, offering businesses new avenues to engage with consumers and drive sales.

Identifying Key Trends and Developments

• Blending Social-Media and Shopping Experiences - The boundaries between social media and e-commerce are increasingly blurring in the UK. Platforms like Instagram, TikTok, and Facebook are enhancing their shopping features, enabling users to discover and purchase products seamlessly within the same environment. This integration creates a more engaging and frictionless shopping experience, driving consumer adoption.

• Leveraging Live Shopping Events - Live shopping is gaining momentum in the UK market, with brands hosting interactive events on platforms like TikTok and Instagram. These live streams showcase products, allow real-time viewer interaction, and drive immediate sales. The rise of live shopping reflects the growing consumer demand for engaging and immersive shopping experiences.

• Targeting Younger Demographics - Millennials and Gen Z are leading the charge in social commerce adoption in the UK. These demographics are more likely to engage with brands on social media and make purchases directly through these platforms. Brands are tailoring their strategies to resonate with younger consumers, emphasizing authenticity and community.

• Enhancing Personalization with Data Analytics - Data analytics is crucial for personalizing the shopping experience in social commerce. Brands leverage AI-driven insights to understand consumer behaviour, tailor recommendations, and create targeted marketing strategies. This data-driven approach enhances customer engagement and increases conversion rates.

Exploring New Platforms and Partnerships

• TikTok's Expansion into Social Commerce - TikTok is rapidly evolving into a significant player in the UK social commerce space. The platform has introduced features that allow users to shop directly from videos, enhancing the shopping experience. TikTok's partnership with Shopify enables merchants to create shoppable posts, streamlining the purchasing process for users.

• Instagram's Shopping Features - Instagram continues to enhance its shopping capabilities with features like Instagram Checkout and shoppable posts. These tools allow brands to sell products directly through their profiles, reducing the need for users to navigate away from the app. The platform's focus on visual content aligns well with consumer preferences, making it a powerful channel for social commerce.

• Facebook's Marketplace Integration - Facebook's Marketplace is evolving to support social commerce initiatives in the UK. The platform integrates shopping features that allow users to discover and purchase products from local businesses and brands. This integration enhances the user experience and encourages community engagement.

Identifying Key Sectors Adopting Social Commerce

• Fashion and Beauty - The fashion and beauty sectors are at the forefront of social commerce adoption in the UK. Brands leverage platforms like Instagram and TikTok to showcase products through influencer partnerships and visually appealing content. The emphasis on aesthetics and personal expression resonates well with consumers in these categories.

• Home Goods and Décor -The home goods sector increasingly utilizes social commerce to reach consumers interested in home improvement and decor. Brands showcase products through engaging content on social media, tapping into the growing interest in home aesthetics, especially post-pandemic.

• Food and Beverage - The food and beverage industry embrace social commerce by promoting products and engaging with consumers through social media. Brands share recipes, cooking tips, and user-generated content to foster a community around their products, driving both engagement and sales.

• Health and Wellness - The health and wellness sector is leveraging social commerce to connect with consumers seeking fitness and wellness solutions. Brands are using social media to share informative content, promote products, and engage with health-conscious audiences, aligning with the principles of social commerce.

This report provides a detailed data centric analysis of social commerce industry, covering market opportunities and risks. With over 50+ KPIs at country level, this report provides a comprehensive understanding of social commerce market dynamics, market size and forecast, and market share statistics.

PayNXT360’s research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view on emerging business and investment market opportunities.

Scope

This report provides in-depth, data-centric analysis of social commerce in United Kingdom. Below is a summary of key market segments:

United Kingdom Ecommerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators, 2020-2029

United Kingdom Social Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators, 2020-2029

• United Kingdom Social Commerce Industry Market Size and Forecast by Retail Product Categories, 2020-2029 Clothing & Footwear Beauty and Personal CareFood & GroceryAppliances and Electronics Home Improvement Travel Hospitality

• United Kingdom Social Commerce Industry Market Size and Forecast by End Use Consumer Segment, 2020-2029B2BB2CC2C

• United Kingdom Social Commerce Industry Market Size and Forecast by End Use Device, 2020-2029 Mobile Desktop

• United Kingdom Social Commerce Industry Market Size and Forecast by Location, 2020-2029 Domestic Cross Border

• United Kingdom Social Commerce Industry Market Size and Forecast by Location, 2020-2029Tier-1 CitiesTier-2 CitiesTier-3 Cities

• United Kingdom Social Commerce Industry Market Size and Forecast by Payment Method, 2020-2029 Credit Card Debit Card Bank Transfer Prepaid Card Digital Card Digital CardDigital & Mobile WalletOther Mobile Wallet Other Digital PaymentCash Mobile Wallet Other Digital Payment Cash

• United Kingdom Social Commerce Industry Market Size and Forecast by PlatformsVideo CommerceSocial Network-Led CommerceSocial ResellingGroup BuyingProduct Review Platforms

• United Kingdom Social Commerce Industry Market Size and Forecast by Consumer Demographics & Behaviour,2023By AgeBy Income LevelBy Gender

Reasons to buy

• In-Depth Insight into Social Commerce Market Dynamics: Gain a comprehensive understanding of social commerce market opportunities and significant trends, alongside projections for the 2020 to 2029 period. This insight is crucial for businesses looking to thrive in the expanding social commerce landscape.

• Detailed Analysis of Opportunities by End-Use Sectors: Investigate the market dynamics within various end-use sectors to identify and evaluate emerging opportunities. This analysis enables businesses to tailor their strategies effectively and capitalize on growth potential in the social commerce market.

• Formulate Targeted Social Commerce Strategies: Identify key growth segments and target specific opportunities to develop an effective social commerce strategy. Evaluate market-specific trends, drivers, and risks to ensure your approach aligns with consumer behaviors and preferences, ultimately enhancing engagement and conversions.