India Social Commerce Market 2023: Statistics, Porters Five Forces Analysis, Size Estimation, Share, Report 2028
According to the latest report by IMARC Group, titled “India Social Commerce Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the social commerce market statistics in india. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The India social commerce market size reached US$ 3.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 18.2 Billion by 2028, exhibiting a growth rate (CAGR) of 32.7% during 2023-2028.
Social commerce is using social media platforms, such as Facebook, Instagram, and Twitter, to facilitate buying and selling products and services. Social commerce leverages the large user bases of social media platforms and the social connections between users to drive sales. It allows businesses to directly sell their products to customers within social media platforms rather than directing them to an external website or e-commerce store. It also allows businesses to engage with customers in real-time, providing personalized recommendations and building relationships. It has become increasingly popular in recent years in India. It has also been accelerated by the COVID-19 pandemic, which has led to a surge in online shopping and social media usage.
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India Social Commerce Market Trends:
The market in India is primarily driven by the increasing popularity of mobile shopping among individuals. In line with this, the rising importance of social media in individuals' lives is significantly contributing to market growth. Furthermore, consumers' growing use of social media platforms for shopping and product research is positively influencing the market. Apart from this, the escalating adoption of mobile devices for online shopping is catalyzing the market. Moreover, the ability of social commerce to provide personalized recommendations and offers based on user data and preferences are creating a positive outlook for the market.
Besides, the increasing prevalence of influencer marketing, which leverages social media platforms to drive product sales, is favoring the market. Additionally, the convenience and ease of use, with users able to make purchases without leaving social media platforms, is another growth-inducing factor. Other factors driving market growth include the ability of social commerce to facilitate social sharing and peer recommendations, rapid advancements in social media technology and functionality, and the potential of social commerce to provide new revenue streams and growth opportunities for businesses.
Explore the Full Report with TOC & List of Figures: https://www.imarcgroup.com/india-social-commerce-market
Key Market Segmentation:
Breakup by Business Model:
- Business to Consumer (B2C)
- Business to Business (B2B)
- Consumer to Consumer (C2C)
Breakup by Device Type:
- Laptops and PCs
- Mobiles
- Others
Breakup by Product Type:
- Personal and Beauty Care
- Apparels
- Accessories
- Home Products
- Health Supplements
- Food and Beverages
- Others
Breakup by Region:
- North India
- West and Central India
- South India
- East India
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Key highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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