The Latin America, Middle East and Africa Social Commerce Market would witness market growth of 32.8% CAGR during the forecast period (2020-2026). The swiftly growing usage of social media advertising is likely to create lucrative opportunities for the growth of the social commerce market. The e-commerce industry largely uses social media platforms for advertising in order to expand its customer base worldwide. E-commerce players are nowadays using sponsored content and banner display advertisements to attract their customers, owing to the growing popularity of social media platforms. These platforms considerably help in engaging the audience worldwide.
Social media has globally gained the attention of the users along the quick growth of e-commerce led to new trends of content sharing, messaging, and payments converge. In social commerce, social interactions of vendors and customers and the safe transactions in e-commerce has significantly led to a new shopping experience in collective connected environments. Consequently, the growing adoption of social media advertising is likely to boost the growth of the social commerce market over the forecast period.
Advancement in technology by online platforms, artificial intelligence, virtual reality, blockchain technology, big data, and virtual assistants are transforming the way social media users purchase online. Vendors are leveraging technologies such as big data, blockchain, and AI to progress the customer’s buying experience, and will also play a crucial role in elevating the industry’s growth. Increasing digitization across numerous industries and shifting business trends towards social media platforms is likely to boost the social commerce market growth.
Based on Business Model, the market is segmented into Business to Consumer (B2C), Business to Business (B2B) and Consumer to Consumer (C2C). Based on Product Type, the market is segmented into Apparel, Personal & Beauty Care, Home Products, Accessories, Food & Beverages and Health Supplements & Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: Social Commerce Market in LAMEA is expected to register a CAGR of 32.8% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Facebook, Inc., PayPal Holdings, Inc. (eBay), Twitter, Inc., Microsoft Corporation (LinkedIn Corporation), Alibaba Group Holdings Limited (Taobao), Sina Corporation, Pinterest, Inc., Etsy, Inc., Reddit, Inc. (Advance Publications, Inc.), and Poshmark, Inc.
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