Global Social Commerce Market Size To Worth USD 13098.92 Billion By 2033 | CAGR Of 30.13%

Global Social Commerce Market Size To Worth USD 13098.92 Billion By 2033

According to a research report published by Spherical Insights & Consulting, The Global Social Commerce Market Size is to Grow from USD 940.92 Billion in 2023 to USD 13098.92 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 30.13% during the projected period.

Browse key industry insights spread across 200 pages with 115 Market data tables and figures & charts from the report on the "Global Social Commerce Market Size, Share, and COVID-19 Impact Analysis, By Business Model (Business-to-Business (B2B), Business-to-Consumer (B2C), and Consumer-to-Consumer (C2C)), By Product Type (Personal and Beauty Care, Accessories, Apparel, Food and Beverages, and Health Supplements and Home Products), By Platform (Video Commerce, Group Buying, Social Reselling, Social Network-Led Commerce, and Product Review Platforms), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."  Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/social-commerce-market

Utilizing social media platforms such as Facebook, Instagram, and X to facilitate the buying and selling of products and services is referred to as social commerce. The process of social commerce includes marketing, browsing, buying, and finalizing transactions. Social commerce makes the buying process more efficient by letting users shop and make purchases directly on social media platforms, cutting out unnecessary steps. The expected market growth is due to improved access to easy shopping procedures, product research, and purchasing. Social commerce platforms' wide range of products and customizable shopping experiences are the main drivers behind the industry's growth. Social interactions have a major influence on shaping consumer decisions, especially in the realms of video commerce, live stream purchasing, and collaborating with influencers. The main reason for the growth of the social commerce market is the estimated 4.9 billion people who are active on social media globally. The growth of social commerce is being greatly influenced by the advancement of technologies like 5G through mobile connectivity. However, consumers in the e-commerce and social commerce industries are especially worried about data privacy and the increased risk of data breaches. Consumers are hesitant to engage with social shopping platforms, hindering their growth and acceptance.

The business-to-consumer (B2C) segment is anticipated to hold the greatest share of the global social commerce market during the projected timeframe.   

Based on the business model, the global social commerce market is divided into business-to-business (B2B), business-to-consumer (B2C), and consumer-to-consumer (C2C). Among these, the business-to-consumer (B2C) segment is anticipated to hold the greatest share of the global social commerce market during the projected timeframe. The B2C industry is at the forefront of social commerce due to its broad customer base, interactive options, social approvals, effective shopping trends, seamless mobile experiences, and the ability to establish connections with clients on a personal level. Social networking platforms like Facebook, Instagram, Twitter, and Pinterest have user-friendly interfaces and precise targeting capabilities, which make them attractive for sales and marketing endeavors.

The apparel segment is anticipated to hold the greatest share of the global social commerce market during the projected timeframe.   

Based on the product type, the global social commerce market is divided into personal and beauty care, accessories, apparel, food and beverages, and health supplements and home products. Among these, the apparel segment is anticipated to hold the greatest share of the global social commerce market during the projected timeframe. The visual aspect of the apparel industry, influencer and user-created content, social recommendations, peer influence, trend-driven fashion, personalization and customization features, and mobile shopping are key drivers of the social commerce market. Social media platforms such as Instagram, Pinterest, and TikTok provide engaging and interactive shopping experiences for fashion enthusiasts, drawing in and captivating users.

The video commerce segment is predicted to hold the greatest share of the social commerce market during the estimated period.

Based on the platform, the global social commerce market is divided into video commerce, group buying, social reselling, social network-led commerce, and product review platforms. Among these, the video commerce segment is predicted to hold the greatest share of the social commerce market during the estimated period. Video commerce involves using videos to promote and sell products or services online, enhance customer interaction, and streamline the buying experience. Brands develop interactive videos to showcase product features, applications, and unique selling points, simplifying the process of watching the video and making a purchase in just two steps. Video is transforming the e-commerce sector by allowing for social commerce interaction and instant control, creating immersive shopping experiences, fostering trust, and aiding in decision-making and customization.

Asia Pacific is expected to hold the largest share of the global social commerce market over the forecast period.

Asia Pacific is expected to hold the largest share of the global social commerce market over the forecast period. A vast population, widespread internet usage, prioritization of mobile devices, increase in online shopping, utilization of digital payments, successful social media channels, influencer endorsements, active community participation, and international online trading have established the region as a leader in the social commerce sector. In the social commerce marketplace, influencer marketing greatly enhances brand awareness, trust, and sales opportunities. The expansion of the social commerce market is propelled by the growth of the e-commerce market in countries such as China and India, as well as the trend of effective purchasing through social media platforms like TikTok and Instagram. Variables like the rise in telecommunication infrastructure investments, the abundance of smartphones, and the expansive presence of social media platforms like Facebook, Instagram, and Twitter.

North America is predicted to grow at the fastest pace in the global social commerce market during the projected timeframe. There is a large number of social media users in the area and a high rate of internet penetration. North America has a reputation for its advanced social media platforms such as Facebook, Instagram, and YouTube, along with its widespread adoption of mobile devices and e-commerce platforms. Businesses are utilizing different social media platforms to advertise their products and services, leading to an increase in social commerce sales as the number of social media users grows. In developed countries like the United States, the e-commerce and social commerce industries are more widespread compared to less developed countries. There is a notable difference in the attitudes and resulting actions of consumers in this field.

Major vendors in the Global Social Commerce Market include Pinterest, Inc., Poshmark, Roposo, Snap, Inc., Taobao, TikTok (Douyin), Trell Shop, Twitter, Inc., WeChat (Weixin), Xiaohongshu, Etsy, Inc., Fashnear Technologies Private Limited (Meesho), Meta Platforms, Inc. (Facebook), Pinduoduo Inc., and others.

Recent Developments

• In January 2024, Cheil's Experience Commerce division won the social media mandate for Western Refrigeration after several rounds of presentations. This partnership allows Experience Commerce to coordinate social media campaigns for Western Refrigeration.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Social Commerce Market based on the below-mentioned segments:

Global Social Commerce Market, By Business Model

• Business-to-Business (B2B)
• Business-to-Consumer (B2C)
• Consumer-to-Consumer (C2C)

Global Social Commerce Market, By Product Type

• Personal and Beauty Care
• Accessories
• Apparel
• Food and Beverages
• Health Supplements
• Home Products

Global Social Commerce Market, By Platform

• Video Commerce
• Group Buying
• Social Reselling
• Social Network-Led Commerce
• Product Review Platforms

Global Social Commerce Market, Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

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