: Lucintel Forecasts the Global Social Commerce Market to Reach $4172.8 billion
: Lucintel Forecasts the Global Social Commerce Market to Reach $4172.8 billion
Blog Article
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 $4172.8 billion from $918.2 billion in 2023, at a CAGR of 28.7% from 2024 to 2030. The major drivers for this market are 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 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).
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.
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, Pinterest, TikTok, Poshmark 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 To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.
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. +1-972-636-5056
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