Social Commerce Market Overview, Trends, Growth, Demand, Key Players Analysis and Forecast to 2031 | Etsy, Inc., Fashnear Technologies Private Limited (Meesho), Meta Platforms
Global Social Commerce Market report from Global Insight Services is the single authoritative source of intelligence on Social Commerce Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Social commerce is the combination of social media and e-commerce. It refers to the use of social media platforms to connect with potential and current customers and promote and sell products or services.
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There are a few key trends in social commerce technology:
1. Social media integration: Social media platforms like Facebook, Twitter, and Instagram are being integrated into e-commerce platforms to provide a more social and engaging experience for shoppers. This can be seen in features like social login, social sharing, and social recommendations.
2. Personalization: Ecommerce platforms are using data from social media platforms to personalize the shopping experience for each individual user. This includes things like showing products that have been recommended by friends, or tailored product recommendations based on past purchase history.
3. Mobile: Social commerce is being increasingly driven by mobile users, as it provides a more convenient way to shop on the go. This is reflected in the trend of platforms offering mobile-optimized experiences, such as mobile apps and responsive design.
4. Social payment: Platforms are beginning to offer social payment options, such as the ability to pay with friends or through social media platforms. This makes the process of paying for goods and services more social and convenient and helps to build trust between buyers and sellers.
There are a number of key drivers of social commerce market growth.
Firstly, the increasing popularity of social media platforms is driving more users to engage in social commerce activities.
Secondly, the increasing number of mobile users is also fueling growth in the social commerce market, as users are able to access social media platforms and make purchases on the go.
Thirdly, the growing trend for personalized and customized products is driving consumers to seek out social commerce platforms where they can find unique items that suit their individual preferences.
Finally, the increasing awareness of the benefits of social commerce, such as the ability to get discounts and deals, is also driving growth in the market.
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The Social Commerce Market is segmented by business model, product type, platform/sales channel and region. By business model, the market is divided into B2C, B2B and C2C. Based on product type, it is segmented into personal & beauty care, apparels and others. On the basis of platform/sales channel, it is bifurcated into video commerce, social network-led commerce, and others. Region-wise the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.
The Social Commerce Market includes players such as Etsy, Inc., Fashnear Technologies Private Limited (Meesho), Meta Platforms, Inc. (Facebook), Pinduoduo Inc., Pinterest, Inc., Poshmark, Roposo, Snap, Inc., Taobao and TikTok.
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Published Tue, 22 Nov 2022 07:27:00 -0600