A recent report published by
Infinium Global Research on the social commerce market provides an in-depth analysis
of segments and sub-segments in the global as well as regional social commerce
market. The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional social commerce market over the short
term as well as long term. The report is a comprehensive presentation of
trends, forecast, and dollar values of the global social commerce market. According
to the report, the global social commerce market is projected to grow at a CAGR
of x.x% over the forecast period of 2020-2026.
Social commerce is the use of
networking websites such as Facebook, Instagram, and Twitter as a platform to
promote and sell products and services. The success of a social commerce
movement is measured by the degree to which customers interact with the
company's marketing through re-tweets, likes, and shares. Furthermore, social
commerce encourages the usage of social shopping tools such as forums and
communities in which buyers and sellers discuss their online shopping
experiences and compare notes. Moreover, social commerce is a rising and
changing field of online marketing that works in conjunction with social media
and the growth in online shopping. Social media platforms help these e-commerce
firms target new customers through posts associated with products. As users
share these posts, it benefits them to reach new customers. Therefore, social
commerce is gradually gaining traction, a trend anticipated to continue over
the projection period. Additionally, the current concern over the spread of
coronavirus is also expected to have a positive impact on the social commerce
market. The COVID-19 outbreak has altered almost every aspect of daily life,
and the social commerce landscape is no exception. Shoppers have been inundated
with coronavirus updates through traditional media, social platforms, and
several others. The information has been constant, developing unpredictably
every day. In times of crisis, each industry faces varied anxieties. Owing to
preventive lockdown measures, numerous businesses have closed brick-and-mortar
locations in varying capacities across the world. Much of the globe has been
limited to its own devices and social commerce is up and running. For various
businesses, leveraging social commerce has been the only consistent point of
purchase during this time, which establishes a mutually favorable relationship
for both brands and their audiences.
The rising spread of social media
coupled with the quick growth of e-commerce worldwide is leading to new trends
of messaging, content sharing and payments converge. In social commerce, social
interactions, and the transactional nature of e-commerce is considerably
resulting in new shopping involvements in collaborative connected environments.
Over the last couple of years, customers are more focused on e-commerce and predominantly
prefer unified payment options. Furthermore, changing consumer lifestyles and
preference toward convenience is resulting in the growth of the global social
commerce market. Customers now want to remain updated about the latest trends
and therefore prefer the promotions offered by retailers and discounts through
e-commerce channels. Moreover, the increasing adoption of social media
advertising is anticipated to drive the growth of the social commerce market
during the projection period across the world. However, issues regarding safety
and privacy are projected to hamper the global social commerce market.
Among the geographies, the North
America region is expected to hold the largest share in the global social
commerce market. The industry is expected to offer huge opportunities for
market growth on account of the presence of numerous key players. Furthermore,
the Asia Pacific region is expected to witness high growth in the global social
commerce market during the forecast period. Factors driving regional market
growth include rising investments in the telecommunication infrastructure,
growing demand for smartphones, and the widespread reach of social media
websites such as Facebook, Twitter, and Instagram.
The report on global social
commerce market covers segments such as business model, device type, and end
user. On the basis of business model, the sub-markets include B2C, B2B, and C2C.
On the basis of device type, the sub-markets include smartphone, laptop, and
tablets. On the basis of end user, the sub-markets include individual, and
commercial.
The report provides profiles of
the companies in the market such as Facebook, Pinterest, Etsy, Inc., Alibaba
Group Holding Ltd., Twitter, Inc., PayPal Payments Private Limited, Poshmark,
Inc., Reddit Inc., SINA Corp., and Fab.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of social commerce market. Moreover, the study highlights current
market trends and provides forecast from 2020-2026. We also have highlighted
future trends in the market that will affect the demand during the forecast
period. Moreover, the competitive analysis given in each regional market brings
an insight into the market share of the leading players.
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