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Social Commerce Market Growth Opportunities and Competitive Landscape Report to 2031 | Etsy, Inc., Fashnear Technologies Private Limited (Meesho), Meta Platforms

03-14-2023 11:04 AM CET | Media & Telecommunications

Press release from: Global Insight Services

Social Commerce Market Growth Opportunities and Competitive

Social commerce is a combination of social media and e-commerce. It refers to using social media platforms to connect with potential and current customers, promote and sell products or services.

Key Trends

There are several major trends in social commerce technology.

1. Social media integration: Social media platforms such as Facebook, Twitter, and Instagram are integrating into e-commerce platforms to provide shoppers with a more social and engaging experience. This can be seen in features such as social login, social sharing and social referrals.

2. Personalization: E-commerce platforms use data from social media platforms to personalize the shopping experience of individual users. This includes displaying products recommended by friends or personalized product recommendations based on past purchases.

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3. Mobile: Social commerce is 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 Payments: Platforms have begun offering social payment options, such as the ability to pay friends through social media platforms. This makes the payment process for goods and services more social and convenient and helps build trust between buyers and sellers.

Read more about Mobile Social Commerce Market here: https://www.globalinsightservices.com/reports/social-commerce-market/

Key Drivers

There are several main drivers of social commerce market growth.

First, with the increasing popularity of social media platforms, more users are engaging in social commerce activities.

Second, the increase in mobile users is fueling the growth of the social commerce market as users can access social media platforms and make purchases while 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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Market Segments

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.

Key Players

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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10-year forecast to help you make strategic decisions
In-depth segmentation which can be customized as per your requirements
Free consultation with lead analyst of the report
Excel data pack included with all report purchases
Robust and transparent research methodology

Groundbreaking research and market player-centric solutions for the upcoming decade according to the present market scenario

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Contact Us:

Global Insight Services LLC
16192, Coastal Highway, Lewes DE 19958
E-mail: info@globalinsightservices.com
Phone: +1-833-761-1700
Website: https://www.globalinsightservices.com/

About Global Insight Services:

Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with the highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.

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