Expected to grow at a CAGR of 28%, the market will reach $27.37 billion by 2028

Dublin, May 30, 2022 /PRNewswire/—— “Latin America Social Commerce Market Intelligence and Future Growth Dynamics Data Book – 50+ Social Commerce Trends KPIs by End-Use Sector, Operational KPIs, Retail Product Dynamics, and Consumer Demographics – Q1 2022 Update” report added to ResearchAndMarkets.com’s supply.

Research and Marketing Signs

Research and Marketing Signs

The social commerce industry is Latin America An average annual growth of 34.4% is expected $6,205.8 million 2022. The social commerce industry is expected to grow steadily over the forecast period with a CAGR of 28.9% from 2022-2028.Social e-commerce GMV will be $6,205.8 million reach in 2022 $27,370.6 million by 2028.

Over the past four to eight quarters, the social commerce industry has gained momentum across all sectors. Latin Americaespecially in Brazil and Mexico. This trend is also intensifying in other Latin American countries, such as Argentina, the e-commerce industry has seen significant growth since the Covid-19 outbreak. While the e-commerce segment is growing, buying via social media platforms is also gaining popularity among consumers.

While the majority of online shoppers still prefer to buy through e-commerce platforms, the popularity of social commerce business models is gaining ground in the region.With the growing popularity of social e-commerce industry Latin Americathe publisher expects to see increasing consumer adoption of social commerce in the region over the next four to eight quarters.

As changes in consumer buying behavior in the post-pandemic era are expected to persist, publishers expect strong growth in social buyer penetration in the near term Mexico. According to the Q1 2022 Social E-commerce Market Survey, the penetration rate of social buyers is Mexico 31% in 2021, second only to Brazil Latin America was 39%. As more shoppers buy products and services online, the publisher expects strong inflows from global investors, including venture capital and private equity firms, over the next eight quarters.

Innovative social commerce startup is bringing e-commerce to non-digital consumers Mexico

exist Latin America, a significant portion of consumers still lack access to digital channels such as e-commerce platforms and mobile wallets. In addition, consumers are also wary of growing concerns about online fraud.Social commerce platforms are innovating with their products Mexico to take advantage of this consumer group.

According to recent surveys, more than half of Brazilian consumers have made a social commerce purchase in the past four to six quarters.Growing internet and smartphone penetration among consumers is supporting the growth of the social commerce market Brazil. In addition, the shift to digital channels has also led to an increase in social buyer penetration Brazil. According to the publisher, Brazil It is expected to achieve a social buyer penetration rate of nearly 40%, the highest of any Latin American country.

For social commerce shoppers Brazil, features that help them spot and evaluate potential purchases play a more important role than pricing and discounts. Hence, social commerce platforms must emphasize their user interfaces to make shopping more convenient for shoppers in the country.

Online influencers are assisting the growth of the social commerce industry Brazil

exist Brazil, online influencers are also driving the growth of the social commerce industry. Online influencers play an important role in driving consumers to buy products through social media platforms such as Facebook and Instagram. According to recent surveys, more than 60% of consumers have made purchases through these platforms without leaving the app.

as August 2021, nearly 26.5% of consumers made purchases on social e-commerce live broadcasts.Influencers are more than 75% credible Brazil, publishers expect online influencers to continue driving social commerce sales through livestreams and promotions over the next four to eight quarters.This will then contribute to the growth of the entire social commerce industry Brazil in the short to medium term.

about 40% of consumers Argentina Purchased through a social commerce platform. However, adoption is expected to rise significantly in the short to medium term as consumers become more aware of business models.

Social networks are giving small businesses the tools to gain market share Argentina

Social media platforms give small business owners the tools to build a virtual store on the platform to penetrate the social commerce space. This strategy of giving businesses tools has helped social networks gain widespread popularity in the social commerce market during the global pandemic. ArgentinaIn addition, the shift of consumers to online shopping has also prompted these social media platforms to innovate their service offerings over the past few quarters.

As consumers’ online shopping trends are expected to continue in the post-pandemic era, social media platforms and networks are expected to further provide businesses with tools to help them increase sales and revenue.Publishers expect this to further boost the social commerce industry Argentina in the short to medium term.

Report Scope

E-commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators 2019-2028

Social E-commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators 2019-2028

2019-2028 Social Commerce Industry Market Size and Retail Product Category Forecast

Social Commerce Industry Market Size and Forecast by End-use 2019-2028

2019-2028 Social E-commerce Industry Market Size and End-Use Equipment Forecast

Market size and regional forecast of social e-commerce industry from 2019 to 2028

Market size and regional forecast of social e-commerce industry from 2019 to 2028

  • first class city

  • secondary city

  • third-tier city

2019-2028 Social E-commerce Industry Market Scale and Payment Method Forecast

  • credit card

  • debit card

  • money transfer

  • prepaid card

  • Digital and Mobile Wallets

  • Other digital payments

  • cash

For more information on this report, please visit https://www.researchandmarkets.com/r/2qvhym

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