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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 - Q1 2022 Update

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    Report

  • 54 Pages
  • April 2022
  • Region: United Kingdom
  • PayNXT360
  • ID: 5578588
According to Q1 2022 Social Commerce Survey, social commerce industry in United Kingdom is expected to grow by 30.4% on annual basis to reach US$19175.0 million in 2022.

The social commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 27.5% during 2022-2028. The social commerce GMV in the country will increase from US$19175.0 million in 2022 to reach US$80374.1 million by 2028.

According to Q1 2022 Global Social Commerce Market Survey, around 80% of consumers in the United Kingdom used social media platforms for shopping in 2021, resulting from the blending of the mature e-commerce market in the country with rising social media adoption among the consumers. Consequently, with the burgeoning social commerce market in the United Kingdom, more social media platforms will increasingly see the launch of in-app check-out options, either standalone or in collaborations. The publisher expects start-ups and retailers will inject social commerce strategy into their business models, providing impetus to the growth of the overall market in the country over the next two to three years.

Fashion retailers are entering into the social commerce space of the United Kingdom


According to recent survey, nearly 25% of the shoppers purchased apparel, 20% of shoppers purchased beauty products, and around 19.5% of shoppers bought home electronics through social commerce in the United Kingdom. Notably, more than 50% of the population in the country depends on social commerce for buying fashion products. Consequently, more and more fashion retailers are entering this space to reach out directly to the customers and also prospective customers, where they spend maximum time. For instance,
  • London-based, Baukjen womenswear brand partnered with Curalate, a visual content monetization platform, to allow the 29,0000 Instagram followers to upload their looks wearing its products with #BaukjenStyle. This enabled the shoppers to find products and styles online through intelligent image recognition technology, helping the brand engage with customers globally.
  • With successful customer acquisition, its sister brand, Isabella Oliver, also injected social commerce into its business model with Curalate to expand its market share in the country.
  • Similarly, fashion brand Isawitfirst partnered with the country's free live streaming social commerce app, OOOOO, to deliver a livestreamed interactive shopping experience for the customers.
  • Also, the beauty brand L'Oréal UK and Ireland partnered with TikTok to enable its customers in the United Kingdom to buy products from its beauty brands Garnier and NYX Professional Make-Up products through the TikTok app.

Startups are building innovative social commerce platforms to attract investment


With the booming social commerce market, startups are developing innovative social commerce tools to attract investors and expand their market share in the United Kingdom. For instance,
  • In December 2020, London-based Agora developed social commerce tool backed by £5 million seed funding from investors including Draper Esprit, Lakestar, and Angel Capital Management.
  • This platform was developed by Riccardo Basile and Elizabeth Craft Townsend-Rose, inspired by the wide adoption of user-generated content by Asian e-commerce platforms, such as Taobao and Little Red Book in China. The company, later in 2021, partnered with the SaaS platform, Mirakl, helping customers to shop from the array of products featured on the social and live-shopping platform.

The publisher expects more such innovative startups to turn up with innovative features of live streaming and AI-fueled personalization, which will scale up social selling and build commerce features providing momentum to the social commerce market in the United Kingdom over the next four to eight quarters.

Global e-commerce platforms are acquiring homegrown social commerce sites to increase customer base in the United Kingdom

Large young consumers aged between 18 to 28 years are the primary consumers for social commerce and driving the market in the United Kingdom. Consequently, with rising opportunities in the market, global e-commerce platforms are showing interest in entering the country’s social commerce market to scale up their business. For instance,
  • In June 2021, New York-based Etsy announced that it was going to acquire London-based social shopping platform Depop for US$1.6 billion.
  • According to the company, Etsy will reach Depop’s a large young consumer base from this acquisition. The publisher anticipates with the acquisition, Etsy is likely to build a marketplace to alleviate the next-generation shopping experience from the medium to long term perspective in the country.

Leading social commerce companies are integrating in-app checkout options to attract consumers in the United Kingdom


The surge in the social shopping market has attracted social media platforms to develop new tools and features in order to provide seamless checkout experiences to customers. For instance,
  • In June 2021, Instagram started testing the market by allowing its consumers in the country to shop for the products using Facebook Pay at the same time need not leave the app.
  • The company partnered with businesses, such as women's clothing shop 'Oh Polly,' fashion brand 'In the Style,' and sneaker shop 'size?' to understand the checkout experience for the sellers as well as consumers.

The publisher expects, with the success of the water test of the social media platform, more businesses will be onboarded to access the checkout option and help them use it with customers, thereby generating revenue from a medium to long term perspective.

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, 2019-2028


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


United Kingdom 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

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

  • B2B
  • B2C
  • C2C

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

  • Mobile
  • Desktop

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

  • Domestic
  • Cross Border

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

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

United Kingdom 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

United Kingdom 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.

Table of Contents

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

List of Figures

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

List of Tables

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

Methodology

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