According to a market report by Lucintel, the future of the global social commerce market looks promising with opportunities in the business to consumer, business to business, and consumer to consumer markets. The global social commerce market is expected to reach an estimated $4173 billion by 2030 with a CAGR of 28.7% from 2024 to 2030. The major drivers for this market are n increase in the use of social media, growth and attraction of online shopping, amount of time spent on these sites on average during the pandemic, and the convenience of online shopping.
A more than 150–page report is developed to understand Trends,
opportunity and forecast in social commerce market to 2030 by business model
(business to consumer, business to business, and consumer to consumer), product
type (personal & beauty care, apparels, accessories, home products, health
supplements, food & beverage, and others), sales channel (video commerce
(live stream + prerecorded), social network-led commerce, social reselling,
group buying, and product review platforms), and region (North America, Europe,
Asia Pacific, and the Rest of the World).
In this market, personal & beauty care, apparel, accessories, home
product, health supplement, and food & beverage are the major segments of
social commerce market by product type. Lucintel forecasts that apparels will
remain the largest segment over the forecast period because most individuals
spent their time online during the covid-19 pandemic, fashion businesses found
new ways to foster the buying experience, work with influencers and artists,
and establish new connections.
Within this market, business to consumer will remain the largest segment
due to changing attitudes on customer behavior and growing use of digital
modes, as well as, the social media platforms for business make it simple for
buyers to explore, pick, and purchase products while also assessing them based
on user ratings.
Download sample by clicking on social
commerce market.
APAC is expected to witness highest growth over the forecast period due
to growing investments in the infrastructure supporting telecommunications, the
increasing use of smartphones, and the popularity of social media platforms
like Facebook, Instagram, and Twitter.
Etsy, Fashnear Technologies, Meta Platforms, Pinduoduo, and Pinterest are
the major suppliers in the social commerce market.
This unique research
report will enable you to make confident business decisions in this globally
competitive marketplace. For a detailed table of contents, contact Lucintel at
+1-972-636-5056 or write us at helpdesk@lucintel.com.
About Lucintel
At Lucintel, we offer solutions for
you growth through game changer ideas and robust market &
unmet needs analysis. We are based in
Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20
years. We are quoted in several publications like the Wall Street Journal,
ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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