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Social Commerce Global Market Report 2023

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    Report

  • 200 Pages
  • March 2023
  • Region: Global
  • The Business Research Company
  • ID: 5766967

Quick Summary:

In this era of digital convenience and burgeoning e-commerce trends, the social commerce market is seeing rapid expansion and evolution. Our latest Social Commerce Market Research Report illustrates this global shift, detailing its trajectory, key players, and emerging trends in a comprehensive, insights-driven document.

With the market witnessing increasing diversification in products, including personal and beauty care, apparel, accessories, food and beverages, and more, businesses must adapt to stay competitive. The report touches on the major contributors influencing this trend, such as growing social media usage and the infiltration of Big Data technology into e-commerce strategies. The report also delves into regional market share, market segments, and global competitors - key knowledge for any business aiming to gain a strong foothold in the social commerce market.

Social commerce is the direct purchase and sale of products or services using a social media platform.

The main types of products in social commerce are personal and beauty care, apparel, accessories, home products, health supplements, food and beverages, and others. The customers can purchase the beauty and personal care products or services directly through social commerce app. social commerce websites are accessible through different device types such as laptops and PCs, mobiles, others and applied to different business models such as B2C, B2B, and C2C. Social commerce is used by both individuals and commercials.

The global social commerce market grew from $534.03 billion in 2022 to $565.83 billion in 2023 at a compound annual growth rate (CAGR) of 6.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The social commerce market is expected to grow to $689.56 billion in 2027 at a CAGR of 5.1%.

The social commerce market research report is one of a series of new reports that provides social commerce market statistics, including social commerce industry global market size, regional shares, competitors with a social commerce market share, detailed social commerce market segments, market trends and opportunities, and any further data you may need to thrive in the social commerce industry. This social commerce market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Big data technology is a key trend gaining popularity in the social commerce market. Big data is used as a software tool for processing, analyzing, and extracting large data. Big data technology in social commerce helps e-commerce companies in improving decision-making and enhancing their performance in operational processes. Big data resources are becoming more accessible to people and this also helps to detect fraudulent behavior in businesses. For example, in 2020, Amazon, a social commerce company based in the United States is using big data technology to transform operational processes and to monitor shipping details and personal information of the customers.

In July 2021, Klarna, a Sweden-based financial company acquired APPRL for a deal amount of $1 billion. With this acquisition, Klarna expects to expand its portfolio in the social commerce market and to create a unique shopping experience for the customers. APPRL is a Sweden-based social commerce company.

North America was the largest region in the social commerce market in 2022. Europe was the second-largest region in the social commerce market. The regions covered in the social commerce report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the social commerce market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The increase in social media usage is expected to propel the growth of the social commerce market in the forecast period. People are increasingly using social media platforms including Youtube, Facebook, and Instagram for multiple purposes. There is an increase in the usage of social media during COVID-19 times as people are not allowed to go out and even shopping and other marketing is done through social media. For instance, according to the Social Network Usage & Growth Statistics report in 2021, the number of people using social media worldwide has increased from 3.48 billion in 2019 to 3.96 billion in 2020. An increase in social media usage increased the demand for the market. Therefore, the increase in social media usage drives the growth of the social commerce market.

The social commerce market includes revenues earned by entities by offering services like promoting and selling products or services within the framework of a social media platform. Social commerce is the incorporation of e-commerce and social media which is used for buying or selling goods or services directly within a social media platform such as Facebook and Instagram. It also includes local and global marketplaces, including small businesses that sell products to various social media followers and individual buyers. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Major players in the social commerce market are Facebook, Pinterest, Etsy Inc., Poshmark Inc., Paypal Payments Private Limited, iQIYI, Sina Corporation, Microsoft Corporation, Twitter Inc., Alibaba China Co Ltd., Fabulous, Renren Inc., Tencent Holdings Ltd., Weibo Corporation, and Yahoo!.



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Frequently Asked Questions about the Global Social Commerce Market

What is the estimated value of the Global Social Commerce Market?

The Global Social Commerce Market was estimated to be valued at $565.83 billion in 2023.

What is the growth rate of the Global Social Commerce Market?

The growth rate of the Global Social Commerce Market is 5.1%, with an estimated value of $689.56 billion by 2027.

What is the forecasted size of the Global Social Commerce Market?

The Global Social Commerce Market is estimated to be worth $689.56 billion by 2027.

Who are the key companies in the Global Social Commerce Market?

Key companies in the Global Social Commerce Market include Facebook, Pinterest, Etsy Inc., Poshmark Inc., Paypal Payments Private Limited, iQIYI, Sina Corporation, Microsoft Corporation, Twitter Inc. and Alibaba China Co Ltd.

Table of Contents

1. Executive Summary

2. Social Commerce Market Characteristics

3. Social Commerce Market Trends And Strategies

4. Social Commerce Market - Macro Economic Scenario
4.1 COVID-19 Impact On Social Commerce Market
4.2 Ukraine-Russia War Impact On Social Commerce Market
4.3 Impact Of High Inflation On Social Commerce Market

5. Social Commerce Market Size And Growth
5.1. Global Social Commerce Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Social Commerce Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Social Commerce Market Segmentation
6.1. Global Social Commerce Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Personal And Beauty Care
  • Apparel
  • Accessories
  • Home Products
  • Health Supplements
  • Food And Beverage
  • Other Products
6.2. Global Social Commerce Market, Segmentation By Device Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Laptops And PCs
  • Mobiles
  • Other Devices
6.3. Global Social Commerce Market, Segmentation By Bussiness Model, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • B2C
  • B2B
  • C2C
6.4. Global Social Commerce Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Individual
  • Commercial
7. Social Commerce Market Regional And Country Analysis
7.1. Global Social Commerce Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Social Commerce Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

8. Asia-Pacific Social Commerce Market
8.1. Asia-Pacific Social Commerce Market Overview
  • Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Social Commerce Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8.3. Asia-Pacific Social Commerce Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

9. China Social Commerce Market
9.1. China Social Commerce Market Overview
9.2. China Social Commerce Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
9.3. China Social Commerce Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion

10. India Social Commerce Market
10.1. India Social Commerce Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
10.2. India Social Commerce Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

11. Japan Social Commerce Market
11.1. Japan Social Commerce Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11.2. Japan Social Commerce Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

12. Australia Social Commerce Market
12.1. Australia Social Commerce Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12.2. Australia Social Commerce Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

13. Indonesia Social Commerce Market
13.1. Indonesia Social Commerce Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13.2. Indonesia Social Commerce Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

14. South Korea Social Commerce Market
14.1. South Korea Social Commerce Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14.2. South Korea Social Commerce Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

15. Western Europe Social Commerce Market
15.1. Western Europe Social Commerce Market Overview
15.2. Western Europe Social Commerce Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15.3. Western Europe Social Commerce Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

16. UK Social Commerce Market
16.1. UK Social Commerce Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16.2. UK Social Commerce Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

17. Germany Social Commerce Market
17.1. Germany Social Commerce Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17.2. Germany Social Commerce Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

18. France Social Commerce Market
18.1. France Social Commerce Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18.2. France Social Commerce Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

19. Eastern Europe Social Commerce Market
19.1. Eastern Europe Social Commerce Market Overview
19.2. Eastern Europe Social Commerce Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19.3. Eastern Europe Social Commerce Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

20. Russia Social Commerce Market
20.1. Russia Social Commerce Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20.2. Russia Social Commerce Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

21. North America Social Commerce Market
21.1. North America Social Commerce Market Overview
21.2. North America Social Commerce Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21.3. North America Social Commerce Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

22. USA Social Commerce Market
22.1. USA Social Commerce Market Overview
22.2. USA Social Commerce Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22.3. USA Social Commerce Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

23. South America Social Commerce Market
23.1. South America Social Commerce Market Overview
23.2. South America Social Commerce Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23.3. South America Social Commerce Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

24. Brazil Social Commerce Market
24.1. Brazil Social Commerce Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24.2. Brazil Social Commerce Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

25. Middle East Social Commerce Market
25.1. Middle East Social Commerce Market Overview
25.2. Middle East Social Commerce Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25.3. Middle East Social Commerce Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

26. Africa Social Commerce Market
26.1. Africa Social Commerce Market Overview
26.2. Africa Social Commerce Market, Segmentation By Product Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26.3. Africa Social Commerce Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

27. Social Commerce Market Competitive Landscape And Company Profiles
27.1. Social Commerce Market Competitive Landscape
27.2. Social Commerce Market Company Profiles
27.2.1. Facebook
27.2.1.1. Overview
27.2.1.2. Products and Services
27.2.1.3. Strategy
27.2.1.4. Financial Performance
27.2.2. Pinterest
27.2.2.1. Overview
27.2.2.2. Products and Services
27.2.2.3. Strategy
27.2.2.4. Financial Performance
27.2.3. Etsy Inc.
27.2.3.1. Overview
27.2.3.2. Products and Services
27.2.3.3. Strategy
27.2.3.4. Financial Performance
27.2.4. Poshmark Inc.
27.2.4.1. Overview
27.2.4.2. Products and Services
27.2.4.3. Strategy
27.2.4.4. Financial Performance
27.2.5. Paypal Payments Private Limited
27.2.5.1. Overview
27.2.5.2. Products and Services
27.2.5.3. Strategy
27.2.5.4. Financial Performance

28. Key Mergers And Acquisitions In The Social Commerce Market

29. Social Commerce Market Future Outlook and Potential Analysis

30. Appendix
30.1. Abbreviations
30.2. Currencies
30.3. Historic And Forecast Inflation Rates
30.4. Research Inquiries
30.5. About the Publisher
30.6. Copyright And Disclaimer

Executive Summary

Social Commerce Global Market Report 2023 provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on social commerce market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

  • Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
  • Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
  • Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
  • Measure the impact of high global inflation on market growth.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market shares.
  • Benchmark performance against key competitors.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis

Description:

Where is the largest and fastest growing market for social commerce? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The social commerce market global report answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Product Type: Personal And Beauty Care; Apparel; Accessories; Home Products; Health Supplements; Food And Beverage; Other Products
2) By Device Type: Laptops And PCs; Mobiles; Other Devices
3) By Bussiness Model: B2C; B2B; C2C
4) By End User: Individual; Commercial

Companies Mentioned: Facebook; Pinterest; Etsy Inc.,; Poshmark Inc.,; Paypal Payments Private Limited

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

Delivery Format: PDF, Word and Excel Data Dashboard.

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Facebook
  • Pinterest
  • Etsy Inc.
  • Poshmark Inc.
  • Paypal Payments Private Limited
  • iQIYI
  • Sina Corporation
  • Microsoft Corporation
  • Twitter Inc.
  • Alibaba China Co Ltd
  • Fabulous
  • Renren Inc.
  • Tencent Holdings Ltd.
  • Weibo Corporation
  • Yahoo!

Methodology

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