Report Description
According to PayNXT360, social commerce industry in Asia Pacific is expected to grow by 12.3% on annual basis to reach US$542.42 billion in 2024.
The social commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 9.9% during 2024-2029. The social commerce GMV in the region will increase from US$482.98 billion in 2023 to reach US$871.08 billion by 2029.
Social commerce is transforming the retail landscape in the Asia Pacific, driven by changing consumer behaviours and technological advancements. Brands increasingly leverage social media platforms to engage with consumers, create immersive shopping experiences, and drive sales. The rise of live shopping, enhanced personalization through data analytics, and the importance of user-generated content are shaping the future of social commerce in the APAC region. As the market grows, retailers must remain agile and innovative to capitalize on emerging opportunities and navigate the competitive landscape effectively.
Social commerce is revolutionizing the retail landscape in Asia Pacific, blending social media engagement with online shopping.
Identifying Key Trends and Developments
• Integrating Social-Media and E-commerce - The boundaries between social media and e-commerce are increasingly blurring in Asia Pacific. Platforms like Instagram, TikTok, and Facebook are enhancing their shopping features, enabling users to discover and purchase products seamlessly within the same environment. This integration creates a more engaging and frictionless shopping experience, driving consumer adoption.
• Leveraging Live Shopping Events - Live shopping is gaining momentum in the APAC region, with brands hosting interactive events on platforms like TikTok and Instagram. These live streams showcase products, allow real-time viewer interaction, and drive immediate sales. The rise of live shopping reflects the growing consumer demand for engaging and immersive shopping experiences.
• Focusing on Younger Demographics - Millennials and Gen Z lead social commerce adoption in Asia Pacific. These demographics are more likely to engage with brands on social media and make purchases directly through these platforms. Brands are tailoring their strategies to resonate with younger consumers, emphasizing authenticity and community.
• Enhancing Personalization with Data Analytics - Data analytics is crucial for personalizing the shopping experience in social commerce. Brands leverage AI-driven insights to understand consumer behaviour, tailor recommendations, and create targeted marketing strategies. This data-driven approach enhances customer engagement and increases conversion rates.
Exploring New Platforms and Partnerships
• TikTok’s Expansion into Social Commerce - TikTok is rapidly becoming a significant player in the APAC social commerce landscape. The platform has introduced features that enable users to shop directly from videos, enhancing the shopping experience. TikTok’s partnership with Shopify allows merchants to create shoppable posts, streamlining the purchasing process for users and expanding their reach.
• Instagram’s Evolving Shopping Features - Instagram continues to enhance its shopping capabilities with features like Instagram Checkout and shoppable posts. These tools enable brands to sell products directly through their profiles, reducing the need for users to navigate away from the app. The platform’s emphasis on visual content aligns perfectly with consumer preferences, making it a powerful channel for social commerce.
• Facebook’s Marketplace Integration - Facebook’s Marketplace is evolving to support social commerce initiatives in Asia Pacific. The platform integrates shopping features that allow users to discover and purchase products from local businesses and brands. This integration enhances user experience and fosters community engagement, enabling small businesses to reach a broader audience.
Key Sectors Adopting Social Commerce
• Fashion and Beauty - The fashion and beauty sectors are leading social commerce adoption in Asia Pacific. Brands leverage platforms like Instagram and TikTok to showcase products through influencer partnerships and visually appealing content. The emphasis on aesthetics and personal expression resonates strongly with consumers in these categories, driving engagement and sales.
• Home Goods and D?cor - The home goods sector increasingly utilizes social commerce to reach consumers interested in home improvement and decor. Brands are showcasing products through engaging content on social media, tapping into the growing interest in home aesthetics, especially in the wake of the pandemic. This sector’s focus on lifestyle resonates well with social commerce principles.
• Food and Beverage - The food and beverage industry embrace social commerce by promoting products and engaging with consumers through social media. Brands share recipes, cooking tips, and user-generated content to foster a community around their products, driving engagement and sales. This approach enhances brand loyalty and encourages repeat purchases.
• Health and Wellness - The health and wellness sector is leveraging social commerce to connect with consumers seeking fitness and wellness solutions. Brands use social media to share informative content, promote products, and engage with health-conscious audiences. This alignment with consumer interests positions health and wellness brands favourably in social commerce.
Highlighting Key Major Acquisitions
• Naver’s Acquisition of Poshmark - In 2022, Naver, the South Korean internet conglomerate, acquired Poshmark, a leading social commerce platform, for $1.2 billion. This acquisition highlights global players’ growing interest in social commerce and the potential for cross-border partnerships and expansion.
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
Report Description
According to PayNXT360, social commerce industry in Asia Pacific is expected to grow by 12.3% on annual basis to reach US$542.42 billion in 2024.
The social commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 9.9% during 2024-2029. The social commerce GMV in the region will increase from US$482.98 billion in 2023 to reach US$871.08 billion by 2029.
Social commerce is transforming the retail landscape in the Asia Pacific, driven by changing consumer behaviours and technological advancements. Brands increasingly leverage social media platforms to engage with consumers, create immersive shopping experiences, and drive sales. The rise of live shopping, enhanced personalization through data analytics, and the importance of user-generated content are shaping the future of social commerce in the APAC region. As the market grows, retailers must remain agile and innovative to capitalize on emerging opportunities and navigate the competitive landscape effectively.
Social commerce is revolutionizing the retail landscape in Asia Pacific, blending social media engagement with online shopping.
Identifying Key Trends and Developments
• Integrating Social-Media and E-commerce - The boundaries between social media and e-commerce are increasingly blurring in Asia Pacific. Platforms like Instagram, TikTok, and Facebook are enhancing their shopping features, enabling users to discover and purchase products seamlessly within the same environment. This integration creates a more engaging and frictionless shopping experience, driving consumer adoption.
• Leveraging Live Shopping Events - Live shopping is gaining momentum in the APAC region, with brands hosting interactive events on platforms like TikTok and Instagram. These live streams showcase products, allow real-time viewer interaction, and drive immediate sales. The rise of live shopping reflects the growing consumer demand for engaging and immersive shopping experiences.
• Focusing on Younger Demographics - Millennials and Gen Z lead social commerce adoption in Asia Pacific. These demographics are more likely to engage with brands on social media and make purchases directly through these platforms. Brands are tailoring their strategies to resonate with younger consumers, emphasizing authenticity and community.
• Enhancing Personalization with Data Analytics - Data analytics is crucial for personalizing the shopping experience in social commerce. Brands leverage AI-driven insights to understand consumer behaviour, tailor recommendations, and create targeted marketing strategies. This data-driven approach enhances customer engagement and increases conversion rates.
Exploring New Platforms and Partnerships
• TikTok’s Expansion into Social Commerce - TikTok is rapidly becoming a significant player in the APAC social commerce landscape. The platform has introduced features that enable users to shop directly from videos, enhancing the shopping experience. TikTok’s partnership with Shopify allows merchants to create shoppable posts, streamlining the purchasing process for users and expanding their reach.
• Instagram’s Evolving Shopping Features - Instagram continues to enhance its shopping capabilities with features like Instagram Checkout and shoppable posts. These tools enable brands to sell products directly through their profiles, reducing the need for users to navigate away from the app. The platform’s emphasis on visual content aligns perfectly with consumer preferences, making it a powerful channel for social commerce.
• Facebook’s Marketplace Integration - Facebook’s Marketplace is evolving to support social commerce initiatives in Asia Pacific. The platform integrates shopping features that allow users to discover and purchase products from local businesses and brands. This integration enhances user experience and fosters community engagement, enabling small businesses to reach a broader audience.
Key Sectors Adopting Social Commerce
• Fashion and Beauty - The fashion and beauty sectors are leading social commerce adoption in Asia Pacific. Brands leverage platforms like Instagram and TikTok to showcase products through influencer partnerships and visually appealing content. The emphasis on aesthetics and personal expression resonates strongly with consumers in these categories, driving engagement and sales.
• Home Goods and D?cor - The home goods sector increasingly utilizes social commerce to reach consumers interested in home improvement and decor. Brands are showcasing products through engaging content on social media, tapping into the growing interest in home aesthetics, especially in the wake of the pandemic. This sector’s focus on lifestyle resonates well with social commerce principles.
• Food and Beverage - The food and beverage industry embrace social commerce by promoting products and engaging with consumers through social media. Brands share recipes, cooking tips, and user-generated content to foster a community around their products, driving engagement and sales. This approach enhances brand loyalty and encourages repeat purchases.
• Health and Wellness - The health and wellness sector is leveraging social commerce to connect with consumers seeking fitness and wellness solutions. Brands use social media to share informative content, promote products, and engage with health-conscious audiences. This alignment with consumer interests positions health and wellness brands favourably in social commerce.
Highlighting Key Major Acquisitions
• Naver’s Acquisition of Poshmark - In 2022, Naver, the South Korean internet conglomerate, acquired Poshmark, a leading social commerce platform, for $1.2 billion. This acquisition highlights global players’ growing interest in social commerce and the potential for cross-border partnerships and expansion.
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
Report Description
According to PayNXT360, social commerce industry in Asia Pacific is expected to grow by 12.3% on annual basis to reach US$542.42 billion in 2024.
The social commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 9.9% during 2024-2029. The social commerce GMV in the region will increase from US$482.98 billion in 2023 to reach US$871.08 billion by 2029.
Social commerce is transforming the retail landscape in the Asia Pacific, driven by changing consumer behaviours and technological advancements. Brands increasingly leverage social media platforms to engage with consumers, create immersive shopping experiences, and drive sales. The rise of live shopping, enhanced personalization through data analytics, and the importance of user-generated content are shaping the future of social commerce in the APAC region. As the market grows, retailers must remain agile and innovative to capitalize on emerging opportunities and navigate the competitive landscape effectively.
Social commerce is revolutionizing the retail landscape in Asia Pacific, blending social media engagement with online shopping.
Identifying Key Trends and Developments
• Integrating Social-Media and E-commerce - The boundaries between social media and e-commerce are increasingly blurring in Asia Pacific. Platforms like Instagram, TikTok, and Facebook are enhancing their shopping features, enabling users to discover and purchase products seamlessly within the same environment. This integration creates a more engaging and frictionless shopping experience, driving consumer adoption.
• Leveraging Live Shopping Events - Live shopping is gaining momentum in the APAC region, with brands hosting interactive events on platforms like TikTok and Instagram. These live streams showcase products, allow real-time viewer interaction, and drive immediate sales. The rise of live shopping reflects the growing consumer demand for engaging and immersive shopping experiences.
• Focusing on Younger Demographics - Millennials and Gen Z lead social commerce adoption in Asia Pacific. These demographics are more likely to engage with brands on social media and make purchases directly through these platforms. Brands are tailoring their strategies to resonate with younger consumers, emphasizing authenticity and community.
• Enhancing Personalization with Data Analytics - Data analytics is crucial for personalizing the shopping experience in social commerce. Brands leverage AI-driven insights to understand consumer behaviour, tailor recommendations, and create targeted marketing strategies. This data-driven approach enhances customer engagement and increases conversion rates.
Exploring New Platforms and Partnerships
• TikTok’s Expansion into Social Commerce - TikTok is rapidly becoming a significant player in the APAC social commerce landscape. The platform has introduced features that enable users to shop directly from videos, enhancing the shopping experience. TikTok’s partnership with Shopify allows merchants to create shoppable posts, streamlining the purchasing process for users and expanding their reach.
• Instagram’s Evolving Shopping Features - Instagram continues to enhance its shopping capabilities with features like Instagram Checkout and shoppable posts. These tools enable brands to sell products directly through their profiles, reducing the need for users to navigate away from the app. The platform’s emphasis on visual content aligns perfectly with consumer preferences, making it a powerful channel for social commerce.
• Facebook’s Marketplace Integration - Facebook’s Marketplace is evolving to support social commerce initiatives in Asia Pacific. The platform integrates shopping features that allow users to discover and purchase products from local businesses and brands. This integration enhances user experience and fosters community engagement, enabling small businesses to reach a broader audience.
Key Sectors Adopting Social Commerce
• Fashion and Beauty - The fashion and beauty sectors are leading social commerce adoption in Asia Pacific. Brands leverage platforms like Instagram and TikTok to showcase products through influencer partnerships and visually appealing content. The emphasis on aesthetics and personal expression resonates strongly with consumers in these categories, driving engagement and sales.
• Home Goods and D?cor - The home goods sector increasingly utilizes social commerce to reach consumers interested in home improvement and decor. Brands are showcasing products through engaging content on social media, tapping into the growing interest in home aesthetics, especially in the wake of the pandemic. This sector’s focus on lifestyle resonates well with social commerce principles.
• Food and Beverage - The food and beverage industry embrace social commerce by promoting products and engaging with consumers through social media. Brands share recipes, cooking tips, and user-generated content to foster a community around their products, driving engagement and sales. This approach enhances brand loyalty and encourages repeat purchases.
• Health and Wellness - The health and wellness sector is leveraging social commerce to connect with consumers seeking fitness and wellness solutions. Brands use social media to share informative content, promote products, and engage with health-conscious audiences. This alignment with consumer interests positions health and wellness brands favourably in social commerce.
Highlighting Key Major Acquisitions
• Naver’s Acquisition of Poshmark - In 2022, Naver, the South Korean internet conglomerate, acquired Poshmark, a leading social commerce platform, for $1.2 billion. This acquisition highlights global players’ growing interest in social commerce and the potential for cross-border partnerships and expansion.
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
According to PayNXT360, social commerce industry in Asia Pacific is expected to grow by 12.3% on annual basis to reach US$542.42 billion in 2024.
The social commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 9.9% during 2024-2029. The social commerce GMV in the region will increase from US$482.98 billion in 2023 to reach US$871.08 billion by 2029.
Social commerce is transforming the retail landscape in the Asia Pacific, driven by changing consumer behaviours and technological advancements. Brands increasingly leverage social media platforms to engage with consumers, create immersive shopping experiences, and drive sales. The rise of live shopping, enhanced personalization through data analytics, and the importance of user-generated content are shaping the future of social commerce in the APAC region. As the market grows, retailers must remain agile and innovative to capitalize on emerging opportunities and navigate the competitive landscape effectively.
Social commerce is revolutionizing the retail landscape in Asia Pacific, blending social media engagement with online shopping.
Identifying Key Trends and Developments
• Integrating Social-Media and E-commerce - The boundaries between social media and e-commerce are increasingly blurring in Asia Pacific. Platforms like Instagram, TikTok, and Facebook are enhancing their shopping features, enabling users to discover and purchase products seamlessly within the same environment. This integration creates a more engaging and frictionless shopping experience, driving consumer adoption.
• Leveraging Live Shopping Events - Live shopping is gaining momentum in the APAC region, with brands hosting interactive events on platforms like TikTok and Instagram. These live streams showcase products, allow real-time viewer interaction, and drive immediate sales. The rise of live shopping reflects the growing consumer demand for engaging and immersive shopping experiences.
• Focusing on Younger Demographics - Millennials and Gen Z lead social commerce adoption in Asia Pacific. These demographics are more likely to engage with brands on social media and make purchases directly through these platforms. Brands are tailoring their strategies to resonate with younger consumers, emphasizing authenticity and community.
• Enhancing Personalization with Data Analytics - Data analytics is crucial for personalizing the shopping experience in social commerce. Brands leverage AI-driven insights to understand consumer behaviour, tailor recommendations, and create targeted marketing strategies. This data-driven approach enhances customer engagement and increases conversion rates.
Exploring New Platforms and Partnerships
• TikTok’s Expansion into Social Commerce - TikTok is rapidly becoming a significant player in the APAC social commerce landscape. The platform has introduced features that enable users to shop directly from videos, enhancing the shopping experience. TikTok’s partnership with Shopify allows merchants to create shoppable posts, streamlining the purchasing process for users and expanding their reach.
• Instagram’s Evolving Shopping Features - Instagram continues to enhance its shopping capabilities with features like Instagram Checkout and shoppable posts. These tools enable brands to sell products directly through their profiles, reducing the need for users to navigate away from the app. The platform’s emphasis on visual content aligns perfectly with consumer preferences, making it a powerful channel for social commerce.
• Facebook’s Marketplace Integration - Facebook’s Marketplace is evolving to support social commerce initiatives in Asia Pacific. The platform integrates shopping features that allow users to discover and purchase products from local businesses and brands. This integration enhances user experience and fosters community engagement, enabling small businesses to reach a broader audience.
Key Sectors Adopting Social Commerce
• Fashion and Beauty - The fashion and beauty sectors are leading social commerce adoption in Asia Pacific. Brands leverage platforms like Instagram and TikTok to showcase products through influencer partnerships and visually appealing content. The emphasis on aesthetics and personal expression resonates strongly with consumers in these categories, driving engagement and sales.
• Home Goods and D?cor - The home goods sector increasingly utilizes social commerce to reach consumers interested in home improvement and decor. Brands are showcasing products through engaging content on social media, tapping into the growing interest in home aesthetics, especially in the wake of the pandemic. This sector’s focus on lifestyle resonates well with social commerce principles.
• Food and Beverage - The food and beverage industry embrace social commerce by promoting products and engaging with consumers through social media. Brands share recipes, cooking tips, and user-generated content to foster a community around their products, driving engagement and sales. This approach enhances brand loyalty and encourages repeat purchases.
• Health and Wellness - The health and wellness sector is leveraging social commerce to connect with consumers seeking fitness and wellness solutions. Brands use social media to share informative content, promote products, and engage with health-conscious audiences. This alignment with consumer interests positions health and wellness brands favourably in social commerce.
Highlighting Key Major Acquisitions
• Naver’s Acquisition of Poshmark - In 2022, Naver, the South Korean internet conglomerate, acquired Poshmark, a leading social commerce platform, for $1.2 billion. This acquisition highlights global players’ growing interest in social commerce and the potential for cross-border partnerships and expansion.
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 title from PayNXT360 is a bundled offering, combining 12 reports (528 tables and 684 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, 2020-2029
Social Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators, 2020-2029
• 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
• Social Commerce Industry Market Size and Forecast by End Use Consumer Segment, 2020-2029
?--B2B
?--B2C
?--C2C
• Social Commerce Industry Market Size and Forecast by End Use Device, 2020-2029
?--Mobile
?--Desktop
• Social Commerce Industry Market Size and Forecast by Location, 2020-2029
?--Domestic
?--Cross Border
• Social Commerce Industry Market Size and Forecast by Location, 2020-2029
?--Tier-1 Cities
?--Tier-2 Cities
?--Tier-3 Cities
• 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
• 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,2023
?--By Age
?--By Income Level
?--By Gender
Reasons To Buy
• In-Depth Insight into Social Commerce Market Dynamics: Thorough Understanding of Social Commerce Opportunities: Gain a comprehensive understanding of social commerce market opportunities and significant trends, alongside projections for the 2020 to 2029 period. This insight is crucial for businesses looking to thrive in the expanding social commerce landscape.
• Detailed Analysis of Opportunities by End-Use Sectors: Explore Dynamics Across End-Use Sectors: Investigate the market dynamics within various end-use sectors to identify and evaluate emerging opportunities. This analysis enables businesses to tailor their strategies effectively and capitalize on growth potential in the social commerce market.
• Formulate Targeted Social Commerce Strategies: Craft Tailored Social Commerce Strategies: Identify key growth segments and target specific opportunities to develop an effective social commerce strategy. Evaluate market-specific trends, drivers, and risks to ensure your approach aligns with consumer behaviors and preferences, ultimately enhancing engagement and conversions.This title from PayNXT360 is a bundled offering, combining 12 reports (528 tables and 684 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, 2020-2029
Social Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators, 2020-2029
• 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
• Social Commerce Industry Market Size and Forecast by End Use Consumer Segment, 2020-2029
?--B2B
?--B2C
?--C2C
• Social Commerce Industry Market Size and Forecast by End Use Device, 2020-2029
?--Mobile
?--Desktop
• Social Commerce Industry Market Size and Forecast by Location, 2020-2029
?--Domestic
?--Cross Border
• Social Commerce Industry Market Size and Forecast by Location, 2020-2029
?--Tier-1 Cities
?--Tier-2 Cities
?--Tier-3 Cities
• 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
• 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,2023
?--By Age
?--By Income Level
?--By Gender
Reasons To Buy
• In-Depth Insight into Social Commerce Market Dynamics: Thorough Understanding of Social Commerce Opportunities: Gain a comprehensive understanding of social commerce market opportunities and significant trends, alongside projections for the 2020 to 2029 period. This insight is crucial for businesses looking to thrive in the expanding social commerce landscape.
• Detailed Analysis of Opportunities by End-Use Sectors: Explore Dynamics Across End-Use Sectors: Investigate the market dynamics within various end-use sectors to identify and evaluate emerging opportunities. This analysis enables businesses to tailor their strategies effectively and capitalize on growth potential in the social commerce market.
• Formulate Targeted Social Commerce Strategies: Craft Tailored Social Commerce Strategies: Identify key growth segments and target specific opportunities to develop an effective social commerce strategy. Evaluate market-specific trends, drivers, and risks to ensure your approach aligns with consumer behaviors and preferences, ultimately enhancing engagement and conversions.This title from PayNXT360 is a bun