DUBLIN--(BUSINESS WIRE)--The "Asia Pacific 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 2023 Update" report has been added to ResearchAndMarkets.com's offering.
According to the publisher, social commerce industry in Asia Pacific is expected to grow by 14.7% on annual basis to reach US$489,327.6 million in 2023.
The social commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 10.6% during 2022-2028. The social commerce GMV in the region will increase from US$489,327.6 million in 2023 to reach US$894795.4 million by 2028.
This report provides a detailed data centric analysis of social commerce industry, covering market opportunities and risks. With over 50+ KPIs at region level, this report provides a comprehensive understanding of social commerce market dynamics, market size and forecast, and market share statistics.
The research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view on emerging business and investment market opportunities.
The global pandemic outbreak has significantly changed consumer shopping behavior in the Asia Pacific region. The rising adoption of digital services, including payments and shopping, has accelerated the growth of social commerce. Retailers, in increasing numbers, are leveraging the outbreak of social channels to forge new relationships with consumers and drive incremental revenue.
More retailers are seeking to leverage social commerce capabilities to drive sales and growth
Amid the rising popularity of social buying among consumers in Southeast Asia, an increasing number of retailers are testing the space to better engage with their customers and drive growth. For instance,- Samsung Electronics, one of the leading consumer electronic brands, launched a social commerce campaign, Model Homes, in Southeast Asia.
As part of the campaign, the firm ran a pilot three-month program in Indonesia, Thailand, and Singapore. Under the social commerce program, the firm allowed consumers to shop for products through Samsung's Singapore Instagram store. The campaign was largely targeted toward millennials and Gen Z consumers, who are increasingly shopping through social channels across the Asia Pacific.
Social commerce startups are raising capital from venture capital and private equity firms to scale operations
The growth of the social commerce industry has been partly fueled by innovative startups, which have made it simpler for individuals and businesses to drive sales through social channels. These startups have also attracted global venture capital and private equity funds, thereby driving multi-million-dollar investment into their business operations.
With these funding rounds, the firm is planning to further scale its operations in the domestic and global markets. For instance, respond.io plans to use the capital to further expand its presence in the Middle East market from the short to medium-term perspective.
WhatsApp is targeting opportunities in the Asia Pacific social commerce space through strategic alliances
WhatsApp is one of the leading messaging apps in the Asia Pacific region. Seeking to leverage its popularity in the region, WhatsApp is targeting opportunities in the commerce and payments-related space. To materialize its vision in the region, WhatsApp has already made inroads in the social commerce space through strategic investments across the Asia Pacific.
This title is a bundled offering, combining 13 reports (572 tables and 741 charts).
Country reports in this bundled offering provide in-depth analysis of Social Commerce industry. Below is a summary of key market segments offered at country level:
Ecommerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators, 2019-2028
Social Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators, 2019-2028
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
- Travel
- Hospitality
Social Commerce Industry Market Size and Forecast by End Use Segment, 2019-2028
- B2B
- B2C
- C2C
Social Commerce Industry Market Size and Forecast by End Use Device, 2019-2028
- Mobile
- Desktop
Social Commerce Industry Market Size and Forecast by Location, 2019-2028
- Domestic
- Cross Border
Social Commerce Industry Market Size and Forecast by Location, 2019-2028
- Tier-1 Cities
- Tier-2 Cities
- Tier-3 Cities
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
Social Commerce Industry Market Size and Forecast by Platforms
- Video Commerce
- Social Network-Led Commerce
- Social Reselling
- Group Buying
- Product Review Platforms
Social Commerce Industry Market Size and Forecast by Consumer Demographics & Behaviour,2022
- By Age
- By Income Level
- By Gender
Reasons to buy
- In-depth Understanding of Social Commerce Market Dynamics: Understand market opportunities and key trends along with forecast (2019-2028).
- Insights into Opportunity by end-use sectors - Get market dynamics by end-use sectors to assess emerging opportunity across various end-use sectors.
- Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate social commerce strategy; assess market specific key trends, drivers, and risks in the industry.
For more information about this report visit https://www.researchandmarkets.com/r/1bpg9a-pacific?w=4
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