IMARC Group’s latest research report, titled “Social Commerce Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the global social commerce market. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global social commerce market size reached US$ 778 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3,652 Billion by 2028, exhibiting a growth rate (CAGR) of 27.9% during 2023-2028.
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Social commerce refers to the selling of services and products directly through social media. It comprises online communities, social advertising, post shares, and online stores that facilitate direct interaction between buyers and sellers. It enables businesses to establish their operations on social media platforms while widening their brand audience and customer reach. It has opened an entirely new shopping realm, providing consumers with access to a much greater assortment, helping to meet the rising demand for convenience. It helps companies build customer trust and loyalty and expand their overall sales and aid in time-saving due to the rapid provision of comparative information.
Global Social Commerce Market Trends:
The growing popularity of social media is driving the global market. Moreover, the easy availability of high-speed and affordable internet services has offered marketers a new channel to reach out to target audiences, which is contributing to the demand. Furthermore, continuous technological advancements and the emergence of artificial intelligence (AI), big data, and blockchain to improve customer loyalty and retention are creating a positive market outlook. Besides, the growing adoption of digital services in business processes and changing market trends are promoting the application of social commerce for business-to-business (B2B) purchases and sales of products and services across the globe, which is fuelling the demand. The market is further driven by the increasing number of social media users and the advent of influencer marketing.
Key Players Included in Global Social Commerce Market Research Report:
PayPal Payments Private Limited
Taobao (Alibaba Group Holding Limited)
Verizon Communications Inc
Base Year of the Analysis
Business Model, Device Type, Product Type, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
eBay, Etsy Inc., Facebook, Meesho Inc., PayPal Payments Private Limited, Pinterest Inc., Poshmark Inc., Reddit Inc., Taobao (Alibaba Group Holding Limited), Twitter Inc. and Verizon Communications Inc.
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Social Commerce Market Growth Factors:
Since social commerce platform sellers offer discounts, cashback, faster deliveries, click-and-collect services, ESR options, and other services that make online shopping more convenient and profitable than offline shopping, this is augmenting the market on the global level. Apart from this, several major companies are heavily investing in technologies such as, chatbots, machine learning, and augmented reality, to improve the customer experience, which is providing an impetus to the demand. Moreover, the convergence of content sharing, shopping, payment, and messaging features is impacting the market favorably. Other factors, such as the growth of the e-commerce sector, the increasing importance of cross-border commercial business, changing consumer lifestyles, and the growing prominence of the live-stream shopping trend, are also influencing the market.
Key Market Segmentation:
Breakup by Business Model:
Business to Consumer (B2C)
Business to Business (B2B)
Consumer to Consumer (C2C)
Breakup by Device Type:
Laptops and PCs
Breakup by Product Type:
Personal and Beauty Care
Food and Beverages
Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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Key highlights of the Report:
Market Performance (2017-2022)
Market Outlook (2023-2028)
COVID-19 Impact on the Market
Porter’s Five Forces Analysis
Historical, Current, and Future Market Trends
Market Drivers and Success Factors
Structure of the Market
Value Chain Analysis
Comprehensive Mapping of the Competitive Landscape
TOC for the Social Commerce Market Research Report:
Scope and Methodology
Global Social Commerce Market
Value Chain Analysis
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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