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India 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 - Q1 2022 Update

  • ID: 5578563
  • Report
  • April 2022
  • Region: India
  • 54 Pages
  • PayNXT360
According to Q1 2022 Social Commerce Survey, social commerce industry in India is expected to grow by 39.0% on annual basis to reach US$3933.4 million in 2022.

The social commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 32.1% during 2022-2028. The social commerce GMV in the country will increase from US$3933.4 million in 2022 to reach US$19834.0 million by 2028.

The growing digital boom, backed by higher internet and smartphone penetration is aiding the growth of social commerce in India. As the Indian population becomes more digitally connected especially the untapped tier-2 and 3 cities and rural India, the social commerce market in India is expected to skyrocket in the next four to six quarters. Moreover, the outbreak of COVID-19 has further fueled the growth of social commerce as people were confined to their homes and spending more amount of time online.

Another factor that is driving the social commerce space is the changing consumer preference of GenZ and millennials and the growing number of consumers wanting more customized products. With social commerce brands and retailers can provide customized products as well as target specific audiences according to their offerings. As a result, the social commerce market in India is poised to grow at a high-speed owing to the high-speed adoption of social media platforms.

The social commerce market in India has already started witnessing an inflow of investment from various venture capital (VCs) funds, private equity (PE) as well individual investors. Unlike e-commerce which is characterized by the dominance of a few large players, the social commerce market has already seen a dozen of start-ups coming up every year. Many big brands and names such as Myntra and Facebook have also entered the social commerce market in India, trying to tap the capitalize of this new trend of buying through social media platforms. Overall, the market is still in the nascent stage in India and will reshape the market dimensions in the next 24 months.

Leading e-commerce commerce companies are entering the social commerce market in India


The social commerce space is poised for strong growth in India and is gaining the attention of large e-commerce companies. Large retailers, as well as e-commerce companies, are tapping on the potential of social commerce through acquisitions or creating a different vertical. For instance,
  • In November 2021, Walmart-owned online fashion retailer Myntra announced its expedition into social commerce at scale. As part of its foray into social commerce, the company also launched M- Live, a first-of-its-kind interactive and real-time shopping experience for its customers.
  • In July 2021, another Walmart-owned e-commerce major Flipkart announced the launch of Shopsy, a separate platform for social commerce which enables people to start their online business without investment.
  • In July 2021, YouTube also entered the commerce space with the acquisition of SimSim which had already raised about $17 million before acquisition and was valued at $50.1 million in its 2020 Series B financing round. SimSim is a social commerce start-up that helps small businesses to move to e-commerce with videos and creators.
  • On similar lines, in June 2021, Glance which is backed by Inmobi acquired Shop101 to enter the fast-paced influencer-led social commerce market in India.

Meesho is currently the forerunner in social commerce in India and has already doubled its valuation in 2021 jumping from $2.1billion in April 2021 to $4.2 billion in September while raising around $570 million in Series F funding. As a result, the competition in the social commerce market is steadily rising with large companies like Flipkart taking on the head on head with companies like Meesho, SimSim, GlowRoad among several others.

Homegrown start-ups are capitalizing on the growing demand for social commerce


The social commerce market is still in its nascent stage and is evolving rapidly in India. Many homegrown brands and start-ups have realized the potential of social commerce and have quickly moved in to capitalize on this opportunity. Within the last eight quarters, more than a dozen of start-ups have popped whose business revolves around social commerce, including B2B, B2C as well as C2C. According to estimates, homegrown social commerce start-ups have raised more than $100 million in funding by having nearly 10 million resellers on board. For instance,
  • Bikayi - Founded in 2019, caters to SMEs who find it difficult to scale their business in the digital world. Within one year, the company’s annual gross merchandise value (GMV) grew 1,800% and it successfully raised $10.8 million in a Series-A funding round.
  • KIKO TV - It initially started as a video sharing platform and then turned into social commerce platform powered by AI, providing an interactive shopping experience to consumers through live videos sharing.
  • BIG LIVING is a social commerce venture by radio network BIG FM launched in November 2021. The BIG LIVING platform connects consumers to artisans’ brands and designers who believe in sustainable living.
  • GogoPogo - Founded in July 2020, is s a social commerce cum collaborative platform that helps individuals and businesses to launch online merchandise storefronts.
  • Dukaan Plus - In November 2021, software-as-a-service (SaaS) provider Dukaan launched a social commerce platform named Dukaan Plus. The platform aims at bridging the gap between merchants to brands and thus helping them earn a commission.

With time, as social commerce becomes more popular in India, the space will get cluttered with big brands already eyeing this huge potential market. However, companies backed by big brands such as Myntra and Facebook are also trying to get on the bandwagon of the growing social commerce space but are facing a setback due to their do-it-yourself model. The sellers in India, especially from tier 2 & 3 cities and rural areas, require some support to transition into the digital world, The local start-ups can provide the required support and have much deeper on-ground insights on consumer behavior versus big brands, and this is crucial if a company wants to penetrate the local markets of India.

Social media platforms are adding new features to take advantage of the growing social commerce market


To gain a competitive edge in the social commerce space, customer-centricity and innovation are becoming survival skills for businesses. As more and more start-ups enter the market trying to disrupt the market with new ideas, existing players also need to be creative and innovate to introduce new features to differentiate themselves. With the growing popularity of social commerce, social media platforms are also adding new features to make it easier for sellers as well buyers to interact. For instance,
  • In 2020, the Facebook family which includes Instagram along with Pinterest revamped their platforms and added new tools to aid social commerce. These tools will help sellers to streamline the customer’s shopping experiences, especially during the pandemic. These features also allow retailers to create new storefronts and viewing and the number of users visiting it can be increased through paid advertising.
  • Similarly, the largest messaging service WhatsApp is also tipping its toes in the social commerce market by introducing a new feature called Business Profile which allows users to find shops from a directory within the app. This feature was being tested in Brazil in September 2021 and is expected to be launched in India in 2022.

Scope


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

India Ecommerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators, 2019-2028


India Social Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators, 2019-2028


India Social Commerce Industry Market Size and Forecast by Retail Product Categories, 2019-2028

  • Clothing & Footwear
  • Beauty and Personal Care
  • Food & Grocery
  • Appliances and Electronics
  • Home Improvement
  • Others

India Social Commerce Industry Market Size and Forecast by End Use Segment, 2019-2028

  • B2B
  • B2C
  • C2C

India Social Commerce Industry Market Size and Forecast by End Use Device, 2019-2028

  • Mobile
  • Desktop

India Social Commerce Industry Market Size and Forecast by Location, 2019-2028

  • Domestic
  • Cross Border

India Social Commerce Industry Market Size and Forecast by Location, 2019-2028

  • Tier-1 Cities
  • Tier-2 Cities
  • Tier-3 Cities

India Social Commerce Industry Market Size and Forecast by Payment Method, 2019-2028

  • Credit Card
  • Debit Card
  • Bank Transfer
  • Prepaid Card
  • Digital & Mobile Wallet
  • Other Digital Payment
  • Cash

India Social Commerce Industry Market Size and Forecast by Consumer Demographics & Behaviour,2021

  • By Age
  • By Income Level
  • By Gender

Reasons to buy

  • In-depth Understanding of Social Commerce Market Dynamics: Understand market opportunities and key trends along with forecast (2019-2028).
  • Insights into Opportunity by end-use sectors - Get market dynamics by end-use sectors to assess emerging opportunity across various end-use sectors.
  • Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate social commerce strategy; assess market specific key trends, drivers, and risks in the industry.
Note: Product cover images may vary from those shown

1 About this Report
1.1 Summary
1.2 Methodology
1.3 Social Commerce Definitions
1.4 Disclaimer
2 India Ecommerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators
2.1 India Ecommerce - Gross Merchandise Value Trend Analysis, 2019-2028
2.2 India Ecommerce - Average Value Per Transaction Trend Analysis, 2019-2028
2.3 India Ecommerce - Transaction Volume Trend Analysis, 2019-2028
3 India Social Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators
3.1 India Social Commerce - Gross Merchandise Value Trend Analysis, 2019-2028
3.2 India Social Commerce - Average Value Per Transaction Trend Analysis, 2019-2028
3.3 India Social Commerce - Transaction Volume Trend Analysis, 2019-2028
4 India Social Commerce Key Market Insight and Innovation
4.1 India Social Commerce Key Trends and Drivers
4.2 India Social Commerce Competitive Landscape and Growth Strategies
4.3 India Social Commerce Market Share Analysis by Key Players
5 India Social Commerce Industry Market Size and Forecast by Retail Product Categories
5.1 India Social Commerce Market Share by Retail Product Categories (%), 2021 Vs. 2028
5.2 India Social Commerce Clothing & Footwear - Gross Merchandise Value Trend Analysis, 2019-2028
5.3 India Social Commerce Beauty and Personal Care - Gross Merchandise Value Trend Analysis, 2019-2028
5.4 India Social Commerce Food & Grocery - Gross Merchandise Value Trend Analysis, 2019-2028
5.5 India Social Commerce Appliances and Electronics - Gross Merchandise Value Trend Analysis, 2019-2028
5.6 India Social Commerce Home Improvement - Gross Merchandise Value Trend Analysis, 2019-2028
5.7 India Social Commerce Other - Gross Merchandise Value Trend Analysis, 2019-2028
6 India Social Commerce Industry Market Size and Forecast by End Use Segment
6.1 India Social Commerce Market Share by End Use Segment (%), 2021 Vs. 2028
6.2 India Social Commerce B2B Segment - Gross Merchandise Value Trend Analysis, 2019-2028
6.3 India Social Commerce B2C Segment - Gross Merchandise Value Trend Analysis, 2019-2028
6.4 India Social Commerce C2C Segment - Gross Merchandise Value Trend Analysis, 2019-2028
7 India Social Commerce Industry Market Size and Forecast by End Use Device
7.1 India Social Commerce Market Share by End Use Device (%), 2021 Vs. 2028
7.2 India Social Commerce by Mobile - Gross Merchandise Value Trend Analysis, 2019-2028
7.3 India Social Commerce by Desktop - Gross Merchandise Value Trend Analysis, 2019-2028
8 India Social Commerce Industry Market Size and Forecast by Location
8.1 India Social Commerce Market Share by Location (%), 2021 Vs. 2028
8.2 India Social Commerce by Cross Border - Gross Merchandise Value Trend Analysis, 2019-2028
8.3 India Social Commerce by Domestic - Gross Merchandise Value Trend Analysis, 2019-2028
9 India Social Commerce Industry Market Size and Forecast by Location
9.1 India Social Commerce Market Share by Location (%), 2021 Vs. 2028
9.2 India Social Commerce by Tier-1 Cities - Gross Merchandise Value Trend Analysis, 2019-2028
9.3 India Social Commerce by Tier-2 Cities - Gross Merchandise Value Trend Analysis, 2019-2028
9.4 India Social Commerce by Tier-3 Cities - Gross Merchandise Value Trend Analysis, 2019-2028
10 India Social Commerce Industry Market Size and Forecast by Payment Method
10.1 India Social Commerce Market Share by Payment Method (%), 2021 Vs. 2028
10.2 India Social Commerce Payment by Credit Card - Gross Merchandise Value Trend Analysis, 2019-2028
10.3 India Social Commerce Payment by Debit Card - Gross Merchandise Value Trend Analysis, 2019-2028
10.4 India Social Commerce Payment by Bank Transfer - Gross Merchandise Value Trend Analysis, 2019-2028
10.5 India Social Commerce Payment by Prepaid Card - Gross Merchandise Value Trend Analysis, 2019-2028
10.6 India Social Commerce Payment by Digital & Mobile Wallet - Gross Merchandise Value Trend Analysis, 2019-2028
10.7 India Social Commerce Payment by Other Digital Payment - Gross Merchandise Value Trend Analysis, 2019-2028
10.8 India Social Commerce Payment by Cash - Gross Merchandise Value Trend Analysis, 2019-2028
11 India Social Commerce Industry Market Size and Forecast by Consumer Demographics & Behavior
11.1 India Social Commerce Spend Share by Age Group, 2021
11.2 India Social Commerce Share by Income Level, 2021
11.3 India Social Commerce Share by Gender, 2021
12 Further Reading
12.1 About the Publisher

List of Figures

Figure 1: Methodology Framework
Figure 2: India Ecommerce - Gross Merchandise Value (US$ Million), 2019-2028
Figure 3: India Ecommerce - Average Value Per Transaction Trend Analysis (US$), 2019-2028
Figure 4: India Ecommerce - Transaction Volume (Million), 2019-2028
Figure 5: India Social Commerce - Gross Merchandise Value (US$ Million), 2019-2028
Figure 6: India Social Commerce - Average Value Per Transaction Trend Analysis (US$), 2019-2028
Figure 7: India Social Commerce - Transaction Volume (Million), 2019-2028
Figure 8: India Social Commerce - Market Share Analysis by Key Players (%), 2021
Figure 9: India Social Commerce Market Share by Retail Product Categories (%), 2021 Vs. 2028
Figure 10: India Social Commerce Clothing & Footwear - Gross Merchandise Value (US$ Million), 2019-2028
Figure 11: India Social Commerce Beauty and Personal Care - Gross Merchandise Value (US$ Million), 2019-2028
Figure 12: India Social Commerce Food & Grocery - Gross Merchandise Value (US$ Million), 2019-2028
Figure 13: India Social Commerce Appliances and Electronics - Gross Merchandise Value (US$ Million), 2019-2028
Figure 14: India Social Commerce Home Improvement - Gross Merchandise Value (US$ Million), 2019-2028
Figure 15: India Social Commerce Other - Gross Merchandise Value (US$ Million), 2019-2028
Figure 16: India Social Commerce Market Share by End Use Segment (%), 2021 Vs. 2028
Figure 17: India Social Commerce B2B Segment - Gross Merchandise Value (US$ Million), 2019-2028
Figure 18: India Social Commerce B2C Segment - Gross Merchandise Value (US$ Million), 2019-2028
Figure 19: India Social Commerce C2C Segment - Gross Merchandise Value (US$ Million), 2019-2028
Figure 20: India Social Commerce Market Share by End Use Device (%), 2021 Vs. 2028
Figure 21: India Social Commerce by Mobile - Gross Merchandise Value (US$ Million), 2019-2028
Figure 22: India Social Commerce by Desktop - Gross Merchandise Value (US$ Million), 2019-2028
Figure 23: India Social Commerce Market Share by Location (%), 2021 Vs. 2028
Figure 24: India Social Commerce by Cross Border - Gross Merchandise Value (US$ Million), 2019-2028
Figure 25: India Social Commerce by Domestic - Gross Merchandise Value (US$ Million), 2019-2028
Figure 26: India Social Commerce Market Share by Location (%), 2021 Vs. 2028
Figure 27: India Social Commerce by Tier-1 Cities - Gross Merchandise Value (US$ Million), 2019-2028
Figure 28: India Social Commerce by Tier-2 Cities - Gross Merchandise Value (US$ Million), 2019-2028
Figure 29: India Social Commerce by Tier-3 Cities - Gross Merchandise Value (US$ Million), 2019-2028
Figure 30: India Social Commerce Market Share by Payment Method (%), 2021 Vs. 2028
Figure 31: India Social Commerce Payment by Credit Card - Gross Merchandise Value (US$ Million), 2019-2028
Figure 32: India Social Commerce Payment by Debit Card - Gross Merchandise Value (US$ Million), 2019-2028
Figure 33: India Social Commerce Payment by Bank Transfer - Gross Merchandise Value (US$ Million), 2019-2028
Figure 34: India Social Commerce Payment by Prepaid Card - Gross Merchandise Value (US$ Million), 2019-2028
Figure 35: India Social Commerce Payment by Digital & Mobile Wallet - Gross Merchandise Value (US$ Million), 2019-2028
Figure 36: India Social Commerce Payment by Other Digital Payment - Gross Merchandise Value (US$ Million), 2019-2028
Figure 37: India Social Commerce Payment by Cash - Gross Merchandise Value (US$ Million), 2019-2028
Figure 38: India Social Commerce Share by Age Group (%), 2021
Figure 39: India Social Commerce Share by Income Level (%), 2021
Figure 40: India Social Commerce Share by Gender (%), 2021

List of Tables

Table 1: India Ecommerce - Gross Merchandise Value (US$ Million), 2019-2028
Table 2: India Ecommerce - Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 3: India Ecommerce - Transaction Volume (Million), 2019-2028
Table 4: India Social Commerce - Gross Merchandise Value (US$ Million), 2019-2028
Table 5: India Social Commerce - Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 6: India Social Commerce - Transaction Volume (Million), 2019-2028
Table 7: India Social Commerce Clothing & Footwear - Gross Merchandise Value (US$ Million), 2019-2028
Table 8: India Social Commerce Beauty and Personal Care - Gross Merchandise Value (US$ Million), 2019-2028
Table 9: India Social Commerce Food & Grocery - Gross Merchandise Value (US$ Million), 2019-2028
Table 10: India Social Commerce Appliances and Electronics - Gross Merchandise Value (US$ Million), 2019-2028
Table 11: India Social Commerce Home Improvement - Gross Merchandise Value (US$ Million), 2019-2028
Table 12: India Social Commerce Other - Gross Merchandise Value (US$ Million), 2019-2028
Table 13: India Social Commerce B2B Segment - Gross Merchandise Value (US$ Million), 2019-2028
Table 14: India Social Commerce B2C Segment - Gross Merchandise Value (US$ Million), 2019-2028
Table 15: India Social Commerce C2C Segment - Gross Merchandise Value (US$ Million), 2019-2028
Table 16: India Social Commerce by Mobile - Gross Merchandise Value (US$ Million), 2019-2028
Table 17: India Social Commerce by Desktop - Gross Merchandise Value (US$ Million), 2019-2028
Table 18: India Social Commerce by Cross Border - Gross Merchandise Value (US$ Million), 2019-2028
Table 19: India Social Commerce by Domestic - Gross Merchandise Value (US$ Million), 2019-2028
Table 20: India Social Commerce by Tier-1 Cities - Gross Merchandise Value (US$ Million), 2019-2028
Table 21: India Social Commerce by Tier-2 Cities - Gross Merchandise Value (US$ Million), 2019-2028
Table 22: India Social Commerce by Tier-3 Cities - Gross Merchandise Value (US$ Million), 2019-2028
Table 23: India Social Commerce Payment by Credit Card - Gross Merchandise Value (US$ Million), 2019-2028
Table 24: India Social Commerce Payment by Debit Card - Gross Merchandise Value (US$ Million), 2019-2028
Table 25: India Social Commerce Payment by Bank Transfer - Gross Merchandise Value (US$ Million), 2019-2028
Table 26: India Social Commerce Payment by Prepaid Card - Gross Merchandise Value (US$ Million), 2019-2028
Table 27: India Social Commerce Payment by Digital & Mobile Wallet - Gross Merchandise Value (US$ Million), 2019-2028
Table 28: India Social Commerce Payment by Other Digital Payment - Gross Merchandise Value (US$ Million), 2019-2028
Table 29: India Social Commerce Payment by Cash - Gross Merchandise Value (US$ Million), 2019-2028
Note: Product cover images may vary from those shown

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