DUBLIN--(BUSINESS WIRE)--The "France Social Commerce Market Intelligence and Future Growth Dynamics Databook - 50+ KPIs on Social Commerce Trends by End-Use Sectors, Operational KPIs, Retail Product Dynamics, and Consumer Demographics - Q1 2022 Update" report has been added to ResearchAndMarkets.com's offering.
According to the Q1 2022 Social Commerce Survey, social commerce industry in France is expected to grow by 21.8% on annual basis to reach US$7, 980.0 million in 2022.
The social commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 23.9% during 2022-2028. The social commerce GMV in the country will increase from US$7, 980.0 million in 2022 to reach US$29, 438.1 million by 2028.
Globally, the social commerce market has grown significantly over the last four to eight quarters. The introduction of shopping tools by large social media platforms has largely supported the growth of the social commerce industry around the world. Notably, similar trends are visible in France, where the social commerce market is still developing when compared to other countries such as the United States and China.
As the online shopping method continues to gain momentum among consumers in France, big retailers are also looking to capitalize on the trend to further increase their sales numbers in the country. French retailers are conducting a number of live shopping events to gain increasing traction from social consumers in the country. Moreover, even global players are looking to enter the French social commerce industry in 2022 to capitalize on the growing social commerce trend and to gain market share.
While the market is still in its early stages of development with low social commerce penetration, the growing popularity of social media shopping among consumers has made the French industry ripe for disruption. Consequently, the publisher expects firms to launch innovative products and venture capital and private equity firms to increase their investment in the social commerce space over the next four to eight quarters.
Social commerce companies are focusing on promoting high-end products to gain more profit
While the social commerce sector is growing in France, consumers are still hesitant when it comes to purchasing products from social networking platforms. This behavior of the French consumer is also reflected in their spending on social media platforms. According to publisher's recent survey, nearly 80% of the French consumers who have made purchases from social media platforms buy for less than US$55.
The mistrust among the French consumers is one of the factors why consumers prefer buying low-priced products. Consequently, the publisher expects social media platforms to adopt strategic initiatives which can help them spread awareness and create trust among consumers, which can further help in increasing the overall transaction value and volume in the country.
Among the various platforms used by consumers to complete social commerce purchases, almost 75% of the consumers prefer Facebook. On the other hand, Instagram is preferred by approximately 25%, whereas Snapchat is preferred by 10.8% of the consumers in the country.
Scope
France Ecommerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators, 2019-2028
France Social Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators, 2019-2028
France Social Commerce Industry Market Size and Forecast by Retail Product Categories, 2019-2028
- Clothing & Footwear
- Beauty and Personal Care
- Food & Grocery
- Appliances and Electronics
- Home Improvement
- Others
France Social Commerce Industry Market Size and Forecast by End Use Segment, 2019-2028
- B2B
- B2C
- C2C
France Social Commerce Industry Market Size and Forecast by End Use Device, 2019-2028
- Mobile
- Desktop
France Social Commerce Industry Market Size and Forecast by Location, 2019-2028
- Domestic
- Cross Border
France Social Commerce Industry Market Size and Forecast by Location, 2019-2028
- Tier-1 Cities
- Tier-2 Cities
- Tier-3 Cities
France Social Commerce Industry Market Size and Forecast by Payment Method, 2019-2028
- Credit Card
- Debit Card
- Bank Transfer
- Prepaid Card
- Digital & Mobile Wallet
- Other Digital Payment
- Cash
France Social Commerce Industry Market Size and Forecast by Consumer Demographics & Behaviour, 2021
- By Age
- By Income Level
- By Gender
For more information about this report visit https://www.researchandmarkets.com/r/mwsrul
