Global Social Commerce Market 2017-2021

Overview of the global social commerce market

Market research analysts at Technavio predict that the global social commerce market will grow at a CAGR of around 34% by 2021. The rising use of social media advertising is identified as one of the primary growth factors for this market. The e-commerce industry uses social media platforms for advertising and increasing their customer base. With the rising popularity of social media, e-commerce advertisers use banner display ads and sponsored content to attract customers. These platforms help in effectively engaging the target audience. The posts on social media platforms such as Facebook and Twitter are increasingly viewed and shared by the users. Circulation of the posted content increases traffic to the company's website and expands the customer base. Such benefits have increased the popularity of social media platforms, in turn, propelling the growth of the social commerce market.

Technological innovations have revolutionized social media platforms. Presently, social media platforms are not just limited to interaction among people but are also used for shopping and information exchange. User-friendly social interaction platforms such as Snapchat are increasingly used for marketing products. The usage of chatbots with artificial intelligence (AI) to mimic conversations engages the audience without human intervention. It involves users in self-initiated tasks and quasi-conversations. Such technological advancements in social media will be one of the latest trends that will contribute to the growth of the social commerce market in the forthcoming years.

Competitive landscape and key vendors

The social commerce market is highly competitive due to the presence of several well-established players. The vendors in the market compete based on product portfolio, pricing, delivery options, payment options, policies, varieties, offers, and technological advances. The vendors are also focusing on investing in planning, designing, developing, acquiring new players, and are also expanding their existing facilities. The rising focus of vendors towards delivering advanced technologies will intensify the market’s competitive environment during the next few years.

Some of the leading vendors in the market are -

• Facebook
• Pinterest
• Tencent
• Weibo

The other prominent vendors in the market are Alibaba, Etsy, Fab, iQIYI, LinkedIn, PayPal, Qwiqq, Qzone, Reddit, Renren, Tumblr, and Yahoo!.

Segmentation by device and analysis of the social commerce market

• Laptops and PCs
• Mobiles
• Tablets
• E-readers
• Internet-enabled TVs

During 2016, the laptops and PCs segment accounted for the major shares of the social commerce market. Factors such as the availability of a widescreen and the assistance of viewing multiple screens at once to compare the prices offered by the competing social commerce websites will contribute to the growth of this industry segment in the coming years. This, in turn, will have a positive impact on the social commerce market growth.

Geographical segmentation and analysis of the social commerce market

• Americas
• APAC
• EMEA

The social commerce market statistics estimate that in terms of geographic regions, APAC will be the major revenue contributor to the social commerce market throughout the forecast period. The increasing internet penetration and the rising purchasing power of the middle-class population have made APAC the fastest-growing market for social commerce. This will positively influence the social commerce market size.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global social commerce market?
• What are the key market trends impacting the growth of the global social commerce market?
• What are the challenges to market growth?
• Who are the key vendors in the global social commerce market?
• What are the market opportunities and threats faced by the vendors in the global social commerce market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global social commerce market?

Technavio also offers customization on reports based on specific client requirement.