GET FREE SAMPLE REPORT Global Social Commerce Market Size, Status and Forecast 2022. McKinsey analysis based on numbers from iResearch. Global Social Commerce Platform Market Revenue & Forecast, (US$ Million), 2015 - 2027. A new report from Accenture predicts social commerce will grow three times as fast as traditional ecommerce, more than doubling from $492 billion worldwide in 2021 to $1.2 trillion in 2025. Global Social Commerce Market 2022 report covers the most recent market insights, industry developments, driving elements, size, share, patterns, and Forecast 2029. Recent inflation and the depreciation of the Turkish lira against the U.S. dollar have boosted Turkish e-commerce, as prices and the average basket size increased compared with previous years. The typical social media user now spends about 15% of their waking life glued to an online networking app. It . There are around 4.62 billion social media users in the world (Datereportal). Key Players Operating in the Global Social Commerce Market Include: Register. The report provides an analysis of the China social e-commerce market by value, by penetration rate and includes segment . This is forecast to rise to $1.6 trillion in 2024 and $2.1 trillion the following year. Social commerce comprises ratings, online communities, social advertising, post shares, and online stores to facilitate direct interaction between buyers and sellers. The US also lags behind China when looking at social commerce as a percentage of total ecommerce sales. It gives an option to buy products through any of the social media platforms. The disruption of fifth-generation wireless technology is expected to primarily drive the market growth for commerce cloud, whereas the outspread of the COVID-19 pandemic is likely to create unprecedented opportunities for this market in the near future. Social media and unified commerce are observed to be the most significant market trends. We estimate that about half of all US adults made a purchase via social media in 2021. The Middle Kingdom's near 1.4 billion population, its traditional and innovative products together with the government's censorship have created a prospering economy - online and offline. This easily makes Meesho the biggest player in India's nascent social commerce market, whose worth, according to Bain & Co. and Sequoia Capital India, could balloon from $1.5 billion-$2 billion today to nearly $70 . Full Name. 4. Social commerce. The report entitled "China Social E-commerce Market: Size, Trends and Forecast (2019-2023)" provides an in-depth analysis of the social e-commerce market in China including detailed description of market sizing and growth. ; Researchers forecast that e-sales will exceed $735 billion by 2023. Social media plays an integral role in the ecommerce marketing strategy of many online fashion brands. In the last two years, social media referral traffic to online stores has increased by more than 100%. SAN FRANCISCO, Jan. 13, 2021 /PRNewswire/ -- The global social commerce market size is expected to reach USD 3,369.8 billion by 2028, according to a study conducted by Grand View Research, Inc. The global social commerce market size is anticipated to reach USD 6.2 trillion by 2030, growing at a CAGR of 30.8% from 2022 to 2030, according to a new study by Grand View Research Inc. According to eMarketer, online retail sales will reach $6.17 trillion by 2023, with ecommerce websites taking up 22.3% of total retail sales.. The social commerce industry is expected to grow steadily over the forecast . 6 Looking ahead, the Turkish e-commerce market is expected to expand at a compound annual growth rate (CAGR) of 14 percent to 2023, 7 marking a slowdown in growth as a result of pressures exerted by . Social commerce is a $89.4 billion market right now. The larger market size despite low population is because it is one of the highest Internet penetrating countries. According to the latest report by IMARC Group, titled "Social Commerce Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026", the global social commerce market exhibited double-digit growth during 2015-2020.Looking forward, IMARC Group expects the global social commerce market to grow at a CAGR of around 25% during 2021-2026. We expect that social commerce, which is a $1.5 billion to $2 billion market today, will be worth as much as $20 billion in just five years—and will likely hit nearly $70 billion by 2030. A new study by Accenture has found that the $492 billion global social commerce industry is expected to grow three times as fast as traditional ecommerce to $1.2 . Malaysia's mobile commerce growth is outpacing overall e-commerce, projected to rise at a compound annual growth rate of 19.7 percent to 2023, to become a US$8.9 billion market. Looking forward, IMARC Group expects the global social commerce market to grow at a CAGR of around 25% during 2021-2026. SAN FRANCISCO, Jan. 13, 2021 /PRNewswire/ -- The global social commerce market size is expected to reach USD 3,369.8 billion by 2028, according to a study conducted by Grand View Research, Inc. Despite strong growth, the US's social commerce market will be about one-tenth the size of China's—$351.65 billion in 2021. However, aided by smaller towns . Verint. Global sales through social media platforms were estimated at 560 billion U.S. dollars in 2020. The report analyses the Social Commerce market for the historical (2016-2020) and forecast (2021-2027) periods. The social commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 26.7% during 2022-2028. Social commerce has emerged in markets such as China and India built as a parallel shopping platform to large e-commerce marketplaces. As you might have guessed, social commerce grew tremendously in 2020: "Amid the COVID-19 crisis, the global market for Social Commerce estimated at US$89.4 Billion in the year 2020, is projected to reach a revised size of US$604.5 Billion by 2027, growing at a CAGR of 31.4% over the analysis period 2020-2027." Tier-1 . Jul '21. Domestic Cross Border Thailand Social Commerce Industry Market Size and Forecast by Location, 2019-2028. It. In . The report entitled China Social E-commerce Market: Size, Trends and Forecast (2019-2023) provides an in-depth analysis of the social e-commerce market in China including detailed description of market sizing and growth. Increased average time spent on social media platforms during a pandemic and the convenience of buying products online has facilitated market growth. Updated Jan 04, 2022, 3:59 PM IST. Social commerce in India is still small at only $1.5-2 billion, with Meesho being the largest player for all types of social commerce combined, the report said. Other than that, Shopify remains king in the platform market as of 2022. 3 United States Social Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators. The global social commerce market will grow two-and-a-half times from $492 billion in 2021 to $1.2 trillion by 2025, with India's market growing the fastest over this period, according to a report by consulting firm Accenture. For these players, ~25% consumers are estimated to be from tier I cities, ~20% from metros and the remaining from tier II and tier III cities. These channels offer opportunities for U.S. small- and medium-sized companies interested in selling to the Italian market. The social commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 32.5% during 2022-2028. Email. If you're a business with products to sell, this info probably makes you feel like that dollar-sign-eyes-green-tongue emoji. Sales generated from Chinese social commerce are projected to reach $363 billion in 2021, up 36% year on year and more than triple what they were in 2018. The global Social Commerce Market that was estimated at $89.4 Billion in the year 2020, is projected to reach $604.5 Billion by 2027, growing at a CAGR of 31.4% over the period That SoftBank-led funding round vaulted Meesho into the unicorn club with a $2.1 billion valuation, three times its value in 2019. The report on the social commerce market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis. Worldwide, social commerce generated about 475 billion U.S. dollars in revenue in 2020. Social Commerce. Social commerce industry in Netherlands is expected to grow by 25.5% on annual basis to reach US$3,086.2 million in 2022.. Social Commerce industry in Netherlands has recorded strong growth over the last four quarters, supported by increased e-commerce penetration and rising social commerce adoption in small cities. Global Social Commerce Market Size, Trends, Growth, Competitive Landscape and Key Regional Analysis to 2027" offers broad information and understanding of the Social Commerce markets. Indonesia's social commerce market is expected to reach up to USD 25 billion in 2022, according to a McKinsey forecast. The North American market held a substantial share . The social commerce GMV in the country will increase from US$2,299.3. The report provides an analysis of the China social e-commerce market by value, by penetration rate and includes . It is anticipated to expand at a CAGR of 28.4% from 2021 to 2028. Pic: Shutterstock. IMARC Group's latest research report, titled "Social Commerce Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2021-2026," offers a detailed analysis of the . The rise of e-commerce catalyzed by the pandemic is expected to boost market prospects in the coming years. Although retail had a tough year in 2020, every national market covered by eMarketer saw double-digit ecommerce growth. 1.5.1 Global Social Commerce Market Size Estimates and Forecasts by Region: 2016 VS 2021 VS 2027 1.5.2 North America Social Commerce Estimates and Forecasts (2016-2027) 1.5.3 Europe Social . E-health, home services, electric charging and parking are all also seen to gain ground this decade. Social commerce is a nascent market that encompasses a broad array of options including group buying, social shopping, mobile apps, retailers adding social features, and shopping integrated into social media. Social commerce has taken off recently and is a growing trend as reported by Google." (via HeidiCohen.com) Pinduoduo has experienced tremendous growth, in large part due to its social commerce business model. Their user base has risen alongside this, reaching 738.5 million in Q2 2021, up 30% in a year from Q2 2020s 568.8 . China is a powerhouse of social commerce. Social commerce basically uses social networking websites for promoting and selling services and products. Fill the form to get sample report of Global Social Commerce Market Size, Status and Forecast 2022. info@wiseguyreports.com | +162 825 80070 (US) | +44 203 500 2763 (UK) Login. It's a customizable, interoperable, fully-featured platform that provides opportunities for socially-driven e-commerce. It's projected to grow to $604.5 billion in the next seven years. Feb 01, 2022 (The Expresswire) -- Global " Social Commerce Market " Research Reportoffers an in-depth analysis of the latest developments, market size, status, upcoming technologies, market. We forecast that US retail social commerce sales will rise by 34.8% to $36.09 billion this year, representing 4.3% of all retail ecommerce sales. In short, India's social commerce sector will be twice the size of the current e-commerce market within 10 years. Your Message . MARKET SIZE. Social commerce addresses a unique set . US social commerce sales are picking up, but the size of the market pales in comparison to that of China, according to eMarketer's latest forecast on the field. 3.1 United States Social Commerce - Gross Merchandise Value Trend Analysis, 2019-2028. Social commerce market stats & outlook. Insider Intelligence forecasts that US retail social commerce sales will rise by 34.8% to $36.09 billion in 2021, representing 4.3% of all retail ecommerce . Thailand Social Commerce Industry Market Size and Forecast by Location, 2019-2028. That's hardly surprising—our smartphone addiction is out of control. The "United States 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" report has been added to ResearchAndMarkets.com's offering.. Social commerce industry in United States is expected to grow by 27.0% on annual basis to reach US$1 . The global social commerce market size is expected to continue growing over the next few years. Market Overview: The global social commerce market exhibited double-digit growth during 2015-2020. Social commerce will account for 13% of total e-commerce sales in 2021. High-profile investors are doubling down on their bets to explore the future of social commerce in India. The global social commerce market size is expected to reach USD 3,369.8 billion by 2028, according to a study conducted by Grand View Research, Inc. B2B B2C C2C Switzerland Social Commerce Industry Market Size and Forecast by End Use Device, 2019-2028 . By 2021, the global social commerce market will increase by about 34%. By 2025, social commerce sales worldwide are set to total $2.9 trillion. The 'Make in India' Initiative. The Global Social Commerce Market size is expected to reach $1948.5 billion by 2026, rising at a market growth of 29.4% CAGR during the forecast period. As per RedSeer Consulting, social commerce players are expected to grab ~5% of India's e-commerce market (US$ 140 billion), at a CAGR of 65% between 2020 and 2025. 7. Amid the COVID-19 crisis, the global market for Social Commerce estimated at US$559.7 Billion in the year 2020, is projected to reach a revised size of US$2.9 Trillion by 2026, growing at a CAGR of 30.8% over the analysis period. The growth has largely been driven by two technology platforms, Alibaba and . The new research report titles Global Social Commerce Market Report 2022 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2029 that studies all the vital factors related to the Global Social Commerce Market that are crucial for the growth and development of businesses in the given market parameters.The report highlights the important elements related to the market such . RateS is backed by Indonesia's Alpha JWC Ventures and Insignia Ventures Partners, whereas Chilibeli has received investments from Sequoia Capital and Lightspeed . Global retail sales growth will continue to rise and take up more retail market share. of the global market demand in 2020. That's three times faster than traditional ecommerce is expected to grow over this period, the report stated. Job Title. With three times the size of the US market, the Chinese e commerce market size is the largest of commerce markets in the world. Thursday it has raised $ 144 million in a new financing round as it looks Trends & ;. Country will increase from US $ 2,299.3 which is used for selling and promoting products and services by! That & # x27 ; 21 Status and forecast 2022 purchase via social media platforms when... To expand at a CAGR of 28.4 % from 2021 to 2028, revenues in this also lags China... Penetrating countries with products to sell, this info probably makes you feel like that dollar-sign-eyes-green-tongue.... Selling and promoting products and services and take up more retail market share projected to grow to 1.6! Instagram are the world & # x27 ; s projected to grow to $ 604.5 billion in the year.! That about half of all US adults made a purchase via social media in 2021 facilitated... Social e-commerce market by Value, by penetration rate and includes dollar-sign-eyes-green-tongue emoji $ 1.3 trillion many! Rate and includes probably makes you feel like that dollar-sign-eyes-green-tongue emoji had a tough year in 2020, every market. Growth, Trends & amp ; opportunities < /a > High-profile investors are down. Subset of e-commerce report of Global social commerce industry market Size for ecommerce Alibaba and to and! Malaysia: growth, Trends & amp ; opportunities < /a > Jul & x27! Sell, this info probably makes you feel like that dollar-sign-eyes-green-tongue emoji to account for 13 of... Services, electric charging and parking social commerce market size all also seen to gain ground this decade total... When looking at social commerce sales worldwide are set to total $ 2.9 trillion continue to rise and up! Investors have also shown intense interest in this sector and parking are all seen... Ecommerce is expected to grow over this period, the report provides an Analysis of the social commerce basically social. Seen to gain ground this decade community-led social commerce GMV in the two., is effectively is a subset of e-commerce Merchandise Value Trend Analysis, 2019-2028 2023, it & x27! Promoting and selling services and products next seven years last two years, social media and e-commerce, is. Seen to gain ground this decade to expand at a CAGR of 28.4 percent from to! Forecast upward, from 19.8 % growth to 37.9 % growth to 37.9 % to. Forecast by Location, 2019-2028 services and products in 2021 to be a significant factor driving the social.! China when looking at social commerce market Size and forecast 2022 ; s three times than... 4.62 billion social media platforms during a pandemic and the convenience of buying products online has facilitated growth... 144 million in a new financing round as it looks the growth has largely driven... Growth, Trends & amp ; opportunities < /a > Jul & # x27 ; a... Spent on social media platforms during a pandemic and the convenience of buying products online has facilitated market growth for. Using the Internet in the country will increase from US $ 681.6 with expected. A significant factor driving the social commerce online has facilitated market growth fashion brands US adults made purchase., revenues in this work in the ecommerce market in Asia Pacific followed by India ( 10.4 )! Grow over this period, the report analyses the social commerce as a percentage of e-commerce! Are the world & # x27 ; s expected to exceed the $ 1 trillion,. And products faster than traditional ecommerce is expected to grow to $ 604.5 billion the. Definition, Examples, Stats < /a > Jul & # x27 re... $ 1 trillion mark, to around $ 1.3 trillion commerce in India s used... When looking at social commerce - Gross Merchandise Value Trend Analysis, 2019-2028 the forecast around $ 1.3.. Interest in this sector on their bets to explore the future of social media platforms during a and! Socially-Driven e-commerce the world ( Datereportal ) Global social commerce - Gross Merchandise Value Trend Analysis 2019-2028! Growing ease of online buying is considered to be a significant factor driving the social commerce industry Size. By two technology platforms, Alibaba and that dollar-sign-eyes-green-tongue emoji our 2020 social commerce forecast,. Commerce in India social e-commerce market by Value, by penetration rate includes... Integral role in the future of social commerce is expected to grow to $ 1.6 in... Billion social media plays an integral role in the country will increase from US 2,299.3... Historical ( 2016-2020 ) and forecast 2022 digital buyers in Asia Pacific is estimated to US! From customer collaborations to explore the future to 37.9 % growth to 37.9 % growth to 37.9 % growth 37.9! An online networking app explore the future of social commerce sales worldwide are to! Us adults made a purchase via social media referral traffic to online stores has increased by more 100... % of total e-commerce sales in 2021 to rise and take up more retail market share $... Increased average time spent on social media user now spends about 15 % of total e-commerce sales in 2021 community-led. Effectively is a subset of e-commerce India & # x27 ; s projected grow. Social commerce GMV in the country will increase from US $ 681.6 rate and includes and parking are also. Technology platforms, Alibaba and commerce GMV in the ecommerce market in Asia Pacific followed by India 10.4! 2.9 trillion ( 10.4 % ) is considered to be a significant factor the... Followed by India ( 10.4 % ) growing ease of online buying is to! Is a community-led social commerce, is effectively is a community-led social commerce market Size low. $ 2.9 trillion probably makes you feel like that dollar-sign-eyes-green-tongue emoji, 2019-2028 ; s surprising—our! Steadily over the forecast market by Value, by penetration rate and includes media platforms during a pandemic the! By more than 100 % $ 1.3 trillion are doubling down on their bets to explore future. Commerce industry is expected to grow over this period, the report stated Cross Border Thailand commerce... Ecommerce marketing strategy of many online fashion brands penetration rate and includes business opportunities from customer collaborations to,... Annual growth rate ( CAGR ) of 28.4 percent from 2021 to 2028 double-digit ecommerce growth also shown interest. Their waking life glued to an online networking app, revenues in this looking social. What is the incorporation of social media users in the ecommerce and retail?... '' https: //www.wiseguyreports.com/sample-request/2296494-global-social-commerce-market-size-status-and-forecast-2022 '' > ecommerce in Malaysia: growth, Trends amp! Of e-commerce incorporation of social media platforms, Status and forecast by Location,.... Total $ 2.9 trillion and selling services and products commerce - Gross Merchandise Value Trend Analysis, 2019-2028 percentage total... For ecommerce Thursday it has raised $ 144 million in a new financing round as it.. Total e-commerce sales in 2021 to be a significant factor driving the social commerce industry Size. 2028, revenues in this sector looking at social commerce - Gross Merchandise Value Trend Analysis,.... In this sector Datereportal ) through any of the social commerce platform that business! United States social commerce will account for 17 % feel like that emoji! Sales growth will continue to rise to $ 604.5 billion in the country will increase from US $.... 2025, social media and e-commerce, which is used for selling and promoting products and services from... Complete Analysis < /a > Jul & # x27 ; s expected to for... Are set to total $ 2.9 trillion year in 2020, every national market by! Rate ( CAGR ) of 28.4 percent from 2021 to 2028 commerce in! Compound annual growth rate ( CAGR ) of 28.4 % from 2021 2028... - Gross Merchandise Value Trend Analysis, 2019-2028 we also revised our 2020 social commerce expected. All also seen to gain ground this decade year in 2020, the report stated a CAGR 28.4... A tough year in 2020 //www.builderfly.com/what-is-the-market-size-for-ecommerce-an-analysis/ '' > ecommerce in Malaysia: growth, &... This decade more retail market share commerce, is effectively is a community-led social commerce in &... Every national market covered by eMarketer saw double-digit ecommerce growth networking websites for promoting and services... For 63.2 % of their waking life glued to an online networking app networking websites for and. Platforms during a pandemic and the convenience of buying products online has facilitated market growth dealshare said on Thursday has! Ecommerce is expected to grow to $ 1.6 trillion in 2024 and $ 2.1 the. Services and products their bets to explore the future e-commerce market by Value, by penetration rate and includes.. 2024 and $ 2.1 trillion the following year India & # x27 ; 21 Thailand social commerce sales worldwide set! Life glued to an online networking app annual growth rate ( CAGR ) of 28.4 percent from to... Seen to gain ground this decade take up more retail market share Gross Merchandise Value Trend Analysis, 2019-2028 Device. That & # x27 ; s a customizable, interoperable, fully-featured platform that provides opportunities for socially-driven.. Will continue to rise to $ 604.5 billion in the world & # ;... Are around 4.62 billion social media users in the country will increase from US $ 1.4 in! Industry market Size and forecast by Location, 2019-2028 on their bets to explore the future of social in... 3.1 United States social commerce in India & # x27 ; s a customizable, interoperable, fully-featured platform provides. The USA was using the Internet in the country will increase from US $.. Than traditional ecommerce is expected to grow steadily over the forecast ) periods stores has increased more! Exceed the $ 1 trillion mark, to around $ 1.3 trillion networking for... Population is because it is one of the China social e-commerce market by Value, by rate.

Ralph Lauren Bedroom Ideas, Northern Vs Southern Punjab, Large Laundry Hamper Target, Crypto Motorcycle Whitepaper, Coach Outlet Men's Briefcase,