Social Commerce Market size was valued at USD 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 USD 2483.7 Bn.
Social Commerce Market Overview:
The goal of this research is to provide an overview of the Social Commerce market as well as detailed market segmentation based on connection type, end-use, and geography. The study contains critical information on the market positions of the leading Social Commerce players, as well as noteworthy industry trends and opportunities.
The analysis also focuses on the Global Social Commerce market’s key top industry players, providing information such as company biographies, product pictures and specifications, capacity, production, price, cost, revenue, and contact information. This study examines the Social Commerce Market Trends, Volume, and Value at the Global, Regional, and Company Levels. This report analyses the entire Social Commerce Market Size from a global perspective by analyzing historical data and prospects.
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Social Commerce Market Scope:
The report also focuses on the leading industry players in the Global Social Commerce market, giving information such as company biographies, product images and specifications, capacity, production, price, cost, revenue, and contact information.
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Social Commerce Market Dynamics:
Social commerce will change people’s purchasing habits in the same way that internet shopping did over the last two decades. And, as with any revolution, it will bring with it unforeseen change and unintended repercussions. Social commerce occurs when the entire shopping journey, from product discovery to the check-out procedure, takes place on a social networking platform.
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
Food and Beverage
The Social Commerce Market is divided into three categories based on the Business Model: Business to Consumer (B2C), Business to Business (B2B), and Consumer to Consumer (C2C).In 2020, the Business to Consumer (B2C) sector accounted for 53.6% of the market. The B2C approach eliminates the need for a third-party customer and simplifies business administration. On Social Commerce sites, consumers can view, choose, and order a product while comparing the same-basis assessments by other users. Because there is no intermediary in the business-to-consumer model, clients can receive products at a low cost. These are some of the elements driving the rise of Social Commerce in this industry.In 2020, the business-to-business (B2B) segment held a 29% market share. Companies utilise this form of Social Commerce website as a marketing tool.
Personal and Beauty Care, Apparel, Accessories, Home Products, Health Supplements, Food and Beverage, and Others are the product types that make up the Social Commerce Market. In 2020, the Apparel segment accounted for 24.3% of the market. Apparel is one of the most popular things on social media, with a big number of sellers offering it all around the world. During the projection period, the personal and beauty care category is expected to grow at a strong CAGR of 13.56%. Increasing consumer desire or online purchasing of these products is driving product demand in this area.
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Social Commerce Market Key Players:
Inorganic growth techniques noted in the sector included acquisitions, partnerships, and collaborations. With growing demand, industry participants in the Social Commerce market are projected to benefit from excellent future growth opportunities. The following are a few companies participating in the worldwide Social Commerce industry.
2. Etsy, Inc.
4. PayPal Payments
6. Poshmark, Inc.
7. Reddit Inc.
8. SINA Corp.
10. Twitter, Inc.
11. Alibaba (China) Co., Ltd.
13. LinkedIn Corporation
14. Renren, Inc.
15. Tencent – Qzone
16. Tencent Holdings Ltd.
17. Tumblr, Inc.
18. Weibo Corporation
19. Yahoo!, Inc.
The research also includes a comprehensive PESTLE analysis for each of the five areas, namely North America, Europe, Asia Pacific, the Middle East, and Africa, and South America, after examining the political, economic, social, and technological variables influencing the Social Commerce market in these regions.
COVID-19 Impact Analysis on Social Commerce Market:
As a result of the COVID-19 outbreak, customer behavior has transformed throughout all sectors of society. Industries, on the other hand, will need to adjust their strategies to account for altering market supplies. This study gives an outline of the COVID-19’s impact on the Social Commerce market and will help you build your business in compliance with the new industry standards.
Key Questions Answered in the Social Commerce Market Report are:
- What will be the CAGR of the Social Commerce market during the forecast period?
- Which segment emerged as the leading segment in the Social Commerce market?
- Which are the prominent players in the Social Commerce market?
- What will be the Social Commerce market size by 2027?
- Which company held the largest share in the Social Commerce market?
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