Report Description

According to PayNXT360, social commerce industry in Brazil is expected to grow by 31.2% on annual basis to reach US$3,397.13 million in 2024.

The social commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 25.7% during 2024-2029. The social commerce GMV in the country will increase from US$2,589.78 million in 2023 to reach US$10,655.60 million by 2029.

The social commerce market is expected to grow at a steady pace over the medium term in Brazil. The rising access to smartphones and growing internet penetration are supporting the uptake in social buying in the Latin American market. A higher amount of time spent on social platforms will also aid the growth of the industry from the short to medium-term perspective in Brazil.

To tap into the online commerce shift, social media platforms have also been forging strategic alliances to accelerate their revenue growth. The trend is projected to continue further over the medium term in the Brazilian market, as firms seek to capitalize on the growth opportunity. Overall, PayNXT360 maintains a positive growth outlook for the social commerce industry in Brazil over the next three to four years.

WhatsApp Business is experiencing strong popularity in Brazil amid the growing trend of social buying

WhatsApp is one of the most popular social channels in Brazil. The usage rate of the instant messaging app is up in the 90’s in the Latin American market. It is also one of the reasons why WhatsApp chose Brazil to test its payment function, WhatsApp Pay. Meta also entered into a strategic collaboration with Mercado Libre, enabling small businesses to showcase their product catalog on WhatsApp.

The integration of payments and product discovery features, therefore, enables users to make seamless purchases without leaving the app. The soaring popularity of the instant messaging app is also reflected in the revenue generated by WhatsApp Business in Brazil. Going forward, PayNXT360 expects WhatsApp to forge more strategic alliances, as part of its strategy to drive revenue growth by leveraging the popularity of social commerce features. This, in turn, will support the growth of the industry over the next three to four years in Brazil.

Young shoppers will continue to drive the growth of the social commerce market in Brazil in 2024

The growth in the social buying sector is projected to be largely driven by the rising uptake of social media platforms among young generation Brazilians. Gen Z and millennials are expected to lead the growth of social commerce over the medium term in the Brazilian market. Consequently, PayNXT360 expects platforms like TikTok to record strong growth over the next three to four years in Brazil, as the social channel is widely popular among young generation users. TikTok, notably, has also announced the launch of its music streaming platform in Brazil in 2023. This shows that the firm is committed to increasing its investment in the Brazilian market over the next three to four years.

This report provides a detailed data centric analysis of social commerce industry, covering market opportunities and risks. With over 50+ KPIs at country level, this report provides a comprehensive understanding of social commerce market dynamics, market size and forecast, and market share statistics.

PayNXT360’s 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.


Scope

This report provides in-depth, data-centric analysis of social commerce in Brazil. Below is a summary of key market segments:

Brazil Ecommerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators, 2020-2029

Brazil Social Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators, 2020-2029
• Brazil Social Commerce Industry Market Size and Forecast by Retail Product Categories, 2020-2029
?--Clothing & Footwear
?--Beauty and Personal Care
?--Food & Grocery
?--Appliances and Electronics
?--Home Improvement
?--Travel
–Hospitality
• Brazil Social Commerce Industry Market Size and Forecast by End Use Consumer Segment, 2020-2029
?--B2B
?--B2C
?--C2C
• Brazil Social Commerce Industry Market Size and Forecast by End Use Device, 2020-2029
?--Mobile
?--Desktop
• Brazil Social Commerce Industry Market Size and Forecast by Location, 2020-2029
?--Domestic
?--Cross Border
• Brazil Social Commerce Industry Market Size and Forecast by Location, 2020-2029
?--Tier-1 Cities
?--Tier-2 Cities
?--Tier-3 Cities
• Brazil Social Commerce Industry Market Size and Forecast by Payment Method, 2020-2029
?--Credit Card
?--Debit Card
?--Bank Transfer
?--Prepaid Card
?--Digital & Mobile Wallet
?--Other Digital Payment
?--Cash
• Brazil Social Commerce Industry Market Size and Forecast by Platforms
–Video Commerce
–Social Network-Led Commerce
–Social Reselling
–Group Buying
–Product Review Platforms
• Brazil Social Commerce Industry Market Size and Forecast by Consumer Demographics & Behaviour,2023
?--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 (2020-2029).
• 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.