Published Date: May 2023
Social Purchasing combines e-commerce with social media or shopping on internet by allowing users to buy products from online platforms like Facebook, Instagram, Amazon, and others and done by specialized posts with links to product pages.
Increasing adoption of digital technology and growing number of social media platforms has become positive impact on target market growth. Use of social media and more time spent on these platforms in pandemic to buy online products and emerging online food services has further fueled the target market growth. Social commerce has given the brands the power of merging e-commerce sites and social media by providing huge branding opportunities and offers which attract consumers and thus, anticipated to increase demand for Social Purchasing Market growth in coming years.
The report “Social Purchasing Market, By Type (Advertising/SEO, Consulting Companies, Software Provider, and Social Commerce Platform), By Application (Entertainment, Food & Beverages, Retail & Clothing, Travel, and Other End User Industries), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”
Key Highlights:
- In November 2021, BIG FM launched its new social commerce platform “BIG Living” to offer products that are designed for customers who care for themselves and environment and who want to live a sustainable life. New launched “BIG Living” platform will offer products from various sectors such as Health & Wellness, Locally Made, Giving Back, Workshops, Artisans and Designers with brands including, Lux, Soulspiti, Lyra, Jiden INC, Chitale Bandhu Mithaiwale, Sheth Brothers, Sunrise Masale, and others.
- In February 2022, Flipkart joined the live commerce bandwagon with largest e-tailers experimenting with medium. Flipkart betting big on live commerce and actively conducting live shopping streams on its app with social media influencers, and created a “feed” similar to one on photo and video sharing application on Instagram where prominent influencers can be showcasing wide variety of fashion wear which can be bought directly from feed
Analyst View:
The key factor driving the growth of the Social Purchasing market is increasing demand for Social Purchasing and increasing social media advertising. Social purchasing impact overall sales volume and provide benefits such as improves customer insights, improves customer engagement, higher search engine ranking, increased average order value and consistent audience growth which in turn, facilitated the target market growth. Moreover, increased number of buyers from various social platforms such as Snapchat, Pinterest is expected to drive the Social Purchasing market growth over the forecast period. As a result, market competition is intensifying, and both big international corporations and start-ups are vying to establish position in the market.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Social Purchasing Market, By Type (Advertising/SEO, Consulting Companies, Software Provider, and Social Commerce Platform), By Application (Entertainment, Food & Beverages, Retail & Clothing, Travel, and Other End User Industries), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”
Key Market Insights from the report:
The Social Purchasing Market is segmented based on Type, Application and Region.
- Based on Type, Social Purchasing Market is segmented into Advertising/SEO, Consulting Companies, Software Provider, and Social Commerce Platform.
- Based on Application, Social Purchasing Market is segmented into Entertainment, Food & Beverages, Retail & Clothing, Travel, and Other End User Industries.
- By Region, the Social Purchasing Market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
Competitive Landscape & their strategies of Social Purchasing Market:
The prominent players operating in the Social Purchasing Market includes, Kupivip, Living Social, Milyoni, Moontoast, Payvment, Ecwid, Ghigg, Groupon, Beachmint, 3dcart, and others.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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Some Important Points Answered in this Market Report Are Given Below:
- Explains an overview of the product portfolio, including product development, planning, and positioning
- Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period
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