Market Research Report
Social Commerce Market Size, Share & Trends Analysis Report By Business Model (B2C, B2B, C2C), By Product Type (Personal & Beauty Care), By Platform/Sales Channel, By Region, And Segment Forecasts, 2022 - 2030
|Social Commerce Market Size, Share & Trends Analysis Report By Business Model (B2C, B2B, C2C), By Product Type (Personal & Beauty Care), By Platform/Sales Channel, By Region, And Segment Forecasts, 2022 - 2030|
Published: April 22, 2022
Grand View Research, Inc.
Content info: 109 Pages
Delivery time: 2-10 business days
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. Growing ease of online buying is considered to be a significant factor driving the social commerce demand. Combining entertainment with immediate purchasing, social commerce is providing brands, retailers, and digital platforms a new medium with enormous scope for creating value.
The growing use of the internet for advertising practices has revolutionized companies' business models and generated alternate revenue streams. The easy availability of high-speed and affordable internet services for customers offers marketers a new channel to reach out to target audiences, which has led to the rise of influencer marketing practices. Leveraging these promotion practices, brands can create more personalized advertising campaigns, thereby enhancing customer experience and business relations.
Further, the growing prominence of the live stream shopping trend is expected to gain ground during the forecast period. Before the pandemic, shoppable video was well-known in China, however, COVID-19 brought with it a live commerce experience that has created a resurgence of this method of shopping. Live shopping experience most closely resembles in-person shopping. Through this, buyers can watch people try products in real-time, allowing the brand to get feedback instantly. The pandemic accelerated the adoption of live stream shopping, giving ample opportunity for it to reach the untapped markets.
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