Summary

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 10.2% during 2024-2029. The social commerce GMV in the region will increase from US$482.98 billion in 2023 to reach US$879.87 billion by 2029.

The social commerce market is poised to grow at a significant rate over the medium term in the Asia Pacific region. The growth will be driven by increasing consumption and usage of social media platforms for product discovery and inspiration. The integration of payments and product discovery features in social media platforms will also support the market growth in the Asia Pacific region.

Firms are also forging strategic alliances in the sector to evade regulatory bans on social commerce activities in the Southeast Asia region. In India, too, the industry is projected to report strong growth over the medium term. Startups, in India, are raising capital rounds and innovating using artificial intelligence. Overall, PayNXT360 maintains a robust growth outlook for the Asia Pacific social commerce market over the next three to four years.

Chinese social commerce giant is planning to increase its investment in the global market in 2024

With markets like the United States, Canada, and Australia projected to report strong growth over the next three to four years, Chinese social commerce firms are planning to increase their investment in these markets over the medium term.

• TikTok, for instance, has been aggressively expanding in the United States over the last few quarters. This trend is projected to continue further in 2024, as the firm seeks to develop its logistic network in the American market to drive the platform’s appeal among sellers and buyers. In the United States, TikTok has set an ambitious target of increasing its gross merchandise volume tenfold in 2024. With significant growth in 2023, outpacing Meta Platforms, TikTok is emerging as one of the leading players in the United States market. Further investment in these markets will strengthen the firm’s position over the medium term.

PayNXT360 expects other social commerce platforms, in the region, to also increase their investment in the regional and global markets over the next three to four years. This will drive innovation and a competitive landscape in the fast-growing sector from the short to medium-term perspective.

Innovative startups are leveraging artificial intelligence to gain market share in the fast-growing social commerce sector

To drive better shopping experiences for online buyers, an increasing number of platforms are expected to embrace new-age technologies such as artificial intelligence in India. This trend will further support the growth of the social commerce industry over the medium term in the Indian market.

• Book My Makeup, an innovative social commerce startup, launched an AI-driven platform offering beauty services. Through new-age tech, the platform has introduced features like augmented reality makeup trials, customized beauty recommendations, and virtual consultations. These features are part of the firm’s strategy to make beauty services more engaging, personalized, and convenient for users.

Going forward, PayNXT360 expects more such innovative startups to emerge in the Indian social commerce market. This will aid the competitive landscape in the sector, while also driving the growth of the industry over the next three to four years.

Firms are forging strategic alliances to evade the social commerce ban in the Southeast Asian region
Indonesia, in September 2023, announced a ban on e-commerce transactions on social media networks. The regulatory proceedings were part of the strategy to protect offline merchants and marketplaces from predatory pricing on social media platforms. The ban resulted in a serious hit for TikTok, which was looking at Indonesia as one of its major social commerce markets.

• TikTok, however, entered into a strategic partnership with GoTo in December 2023. This collaboration is part of the social commerce platform’s strategy to evade the ban in Indonesia. As part of the agreement, Tokopedia and TikTok Shop will be combined into an enlarged Tokopedia entity. Over a period of time, TikTok has committed to invest US$1.5 billion into the entity. The investment means that TikTok has a controlling stake of 75.01% in the entity. The shopping features available inside the TikTok app will now be operated and maintained by the enlarged entity in Indonesia.

While TikTok partnered with GoTo to evade the ban imposed by the authorities in Indonesia, other social media platforms such as Facebook, Instagram, and WhatsApp have applied for social commerce permits in the country.

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.

This tittle is a bundled offering provides detailed 13 reports, covering regional insights along with data centric analysis at regional and country level:

1. Asia Pacific Social Commerce Market Intelligence and Future Growth Dynamics (Databook)
2. Australia Social Commerce Market Intelligence and Future Growth Dynamics (Databook)
3. China Social Commerce Market Intelligence and Future Growth Dynamics (Databook)
4. India Social Commerce Market Intelligence and Future Growth Dynamics (Databook)
5. Japan Social Commerce Market Intelligence and Future Growth Dynamics (Databook)
6. Malaysia Social Commerce Market Intelligence and Future Growth Dynamics (Databook)
7. South Korea Social Commerce Market Intelligence and Future Growth Dynamics (Databook)
8. Philippines Social Commerce Market Intelligence and Future Growth Dynamics (Databook)
9. Singapore Social Commerce Market Intelligence and Future Growth Dynamics (Databook)
10. Taiwan Social Commerce Market Intelligence and Future Growth Dynamics (Databook)
11. Thailand Social Commerce Market Intelligence and Future Growth Dynamics (Databook)
12. Vietnam Social Commerce Market Intelligence and Future Growth Dynamics (Databook)

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Table of Contents

This tittle is a bundled offering provides detailed 13 reports, covering regional insights along with data centric analysis at regional and country level:

1. Asia Pacific Social Commerce Market Intelligence and Future Growth Dynamics (Databook)
2. Australia Social Commerce Market Intelligence and Future Growth Dynamics (Databook)
3. China Social Commerce Market Intelligence and Future Growth Dynamics (Databook)
4. India Social Commerce Market Intelligence and Future Growth Dynamics (Databook)
5. Japan Social Commerce Market Intelligence and Future Growth Dynamics (Databook)
6. Malaysia Social Commerce Market Intelligence and Future Growth Dynamics (Databook)
7. South Korea Social Commerce Market Intelligence and Future Growth Dynamics (Databook)
8. Philippines Social Commerce Market Intelligence and Future Growth Dynamics (Databook)
9. Singapore Social Commerce Market Intelligence and Future Growth Dynamics (Databook)
10. Taiwan Social Commerce Market Intelligence and Future Growth Dynamics (Databook)
11. Thailand Social Commerce Market Intelligence and Future Growth Dynamics (Databook)
12. Vietnam Social Commerce Market Intelligence and Future Growth Dynamics (Databook)

All the regional and country sections above follow the following table of contents covering 57 charts and 44 tables for each country / region:

1. About this Report
1.1. Summary
1.2. Methodology
1.3. Social Commerce Definitions
1.4. Disclaimer

2. Ecommerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators
2.1. Ecommerce – Gross Merchandise Value Trend Analysis, 2020-2029
2.2. Ecommerce – Average Value Per Transaction Trend Analysis, 2020-2029
2.3. Ecommerce – Transaction Volume Trend Analysis, 2020-2029

3. Social Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators
3.1. Social Commerce – Gross Merchandise Value Trend Analysis, 2020-2029
3.2. Social Commerce – Average Value Per Transaction Trend Analysis, 2020-2029
3.3. Social Commerce – Transaction Volume Trend Analysis, 2020-2029
3.4. Social Commerce Market Share Analysis by Key Players, 2023

4. Social Commerce Industry Market Size and Forecast by Location
4.1. Social Commerce Market Share by Location (%), 2023
4.2. Social Commerce by Cross Border – Gross Merchandise Value Trend Analysis, 2020-2029
4.3. Social Commerce by Domestic – Gross Merchandise Value Trend Analysis, 2020-2029

5. Social Commerce Industry Market Size and Forecast by Product Categories
5.1. Social Commerce Market Share by Product Categories (%), 2023
5.2. Social Commerce Clothing & Footwear – Gross Merchandise Value Trend Analysis, 2020-2029
5.3. Social Commerce Beauty and Personal Care – Gross Merchandise Value Trend Analysis, 2020-2029
5.4. Social Commerce Food & Grocery – Gross Merchandise Value Trend Analysis, 2020-2029
5.5. Social Commerce Appliances and Electronics – Gross Merchandise Value Trend Analysis, 2020-2029
5.6. Social Commerce Home Improvement – Gross Merchandise Value Trend Analysis, 2020-2029
5.7. Social Commerce Travel – Gross Merchandise Value Trend Analysis, 2020-2029
5.8. Social Commerce Accommodation – Gross Merchandise Value Trend Analysis, 2020-2029

6. Social Commerce Industry Market Size and Forecast by End Use Consumer Segment
6.1. Social Commerce Market Share by End Use Segment (%), 2023
6.2. Social Commerce B2C Segment – Gross Merchandise Value Trend Analysis, 2020-2029
6.3. Social Commerce B2B Segment – Gross Merchandise Value Trend Analysis, 2020-2029
6.4. Social Commerce C2C Segment – Gross Merchandise Value Trend Analysis, 2020-2029

7. Social Commerce Industry Market Size and Forecast by End Use Device
7.1. Social Commerce Market Share by End Use Device (%), 2023
7.2. Social Commerce by Mobile – Gross Merchandise Value Trend Analysis, 2020-2029
7.3. Social Commerce by Desktop – Gross Merchandise Value Trend Analysis, 2020-2029

8. Social Commerce Industry Market Size and Forecast by Cities
8.1. Social Commerce Market Share by Cities (%), 2023
8.2. Social Commerce by Tier-1 Cities – Gross Merchandise Value Trend Analysis, 2020-2029
8.3. Social Commerce by Tier-2 Cities – Gross Merchandise Value Trend Analysis, 2020-2029
8.4. Social Commerce by Tier-3 Cities – Gross Merchandise Value Trend Analysis, 2020-2029

9. Social Commerce Industry Market Size and Forecast by Payment Method
9.1. Social Commerce Market Share by Payment Method (%), 2023
9.2. Social Commerce Payment by Credit Card – Gross Merchandise Value Trend Analysis, 2020-2029
9.3. Social Commerce Payment by Debit Card – Gross Merchandise Value Trend Analysis, 2020-2029
9.4. Social Commerce Payment by Bank Transfer – Gross Merchandise Value Trend Analysis, 2020-2029
9.5. Social Commerce Payment by Prepaid Card – Gross Merchandise Value Trend Analysis, 2020-2029
9.6. Social Commerce Payment by Digital & Mobile Wallet – Gross Merchandise Value Trend Analysis, 2020-2029
9.7. Social Commerce Payment by Other Digital Payment – Gross Merchandise Value Trend Analysis, 2020-2029
9.8. Social Commerce Payment by Cash – Gross Merchandise Value Trend Analysis, 2020-2029

10. Social Commerce Industry Market Size and Forecast by Platforms
10.1. Social Commerce Market Share by Platforms Method (%), 2023
10.2. Social Commerce Platforms by Video Commerce (Live Stream + Prerecorded) – Gross Merchandise Value Trend Analysis, 2020-2029
10.3. Social Commerce Platforms by Social Network-Led Commerce – Gross Merchandise Value Trend Analysis, 2020-2029
10.4. Social Commerce Platforms by Social Reselling – Gross Merchandise Value Trend Analysis, 2020-2029
10.5. Social Commerce Platforms by Group Buying – Gross Merchandise Value Trend Analysis, 2020-2029
10.6. Social Commerce Platforms by Product Review Platforms – Gross Merchandise Value Trend Analysis, 2020-2029

11. Social Commerce Industry Market Size and Forecast by Contents
11.1. Social Commerce Market Share by Contents (%), 2023
11.2. Social Commerce Contents by Live Streamers – Gross Merchandise Value Trend Analysis, 2020-2029
11.3. Social Commerce Contents by Gaming Streamers – Gross Merchandise Value Trend Analysis, 2020-2029
11.4. Social Commerce Contents by Reels – Gross Merchandise Value Trend Analysis, 2020-2029
11.5. Social Commerce Contents by Influencers – Gross Merchandise Value Trend Analysis, 2020-2029
11.6. Social Commerce Contents by Stories – Gross Merchandise Value Trend Analysis, 2020-2029

12. Social Commerce Industry Market Size and Forecast by Consumer Demographics & Behaviour
12.1. Social Commerce Spend Share by Age Group, 2023
12.2. Social Commerce by Age Group – Gen Z (15-27) – Gross Merchandise Value Trend Analysis, 2020-2029
12.3. Social Commerce by Age Group – Millennials (28–44) – Gross Merchandise Value Trend Analysis, 2020-2029
12.4. Social Commerce by Age Group – Gen X (45 – 60) – Gross Merchandise Value Trend Analysis, 2020-2029
12.5. Social Commerce by Age Group – Baby Boomers (60+) – Gross Merchandise Value Trend Analysis, 2020-2029
12.6. Social Commerce Share by Income Level, 2023
12.7. Social Commerce Share by Gender, 2023

13. Further Reading
13.1. About PayNXT360
13.2. Related Research

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List of Tables/Graphs

This bundled offering has 44 tables across 12 regional and country reports. All regional and country reports will have the following tables:

Table 1: Ecommerce – Gross Merchandise Value (US$ Million), 2020-2029
Table 2: Ecommerce – Average Value Per Transaction Trend Analysis (US$), 2020-2029
Table 3: Ecommerce – Transaction Volume (Million), 2020-2029
Table 4: Social Commerce – Gross Merchandise Value (US$ Million), 2020-2029
Table 5: Social Commerce – Average Value Per Transaction Trend Analysis (US$), 2020-2029
Table 6: Social Commerce – Transaction Volume (Million), 2020-2029
Table 7: Social Commerce by Cross Border – Gross Merchandise Value (US$ Million), 2020-2029
Table 8: Social Commerce by Domestic – Gross Merchandise Value (US$ Million), 2020-2029
Table 9: Social Commerce Clothing & Footwear – Gross Merchandise Value (US$ Million), 2020-2029
Table 10: Social Commerce Beauty and Personal Care – Gross Merchandise Value (US$ Million), 2020-2029
Table 11: Social Commerce Food & Grocery – Gross Merchandise Value (US$ Million), 2020-2029
Table 12: Social Commerce Appliances and Electronics – Gross Merchandise Value (US$ Million), 2020-2029
Table 13: Social Commerce Home Improvement – Gross Merchandise Value (US$ Million), 2020-2029
Table 14: Social Commerce Travel – Gross Merchandise Value (US$ Million), 2020-2029
Table 15: Social Commerce Accommodation – Gross Merchandise Value (US$ Million), 2020-2029
Table 16: Social Commerce B2C Segment – Gross Merchandise Value (US$ Million), 2020-2029
Table 17: Social Commerce B2B Segment – Gross Merchandise Value (US$ Million), 2020-2029
Table 18: Social Commerce C2C Segment – Gross Merchandise Value (US$ Million), 2020-2029
Table 19: Social Commerce by Mobile – Gross Merchandise Value (US$ Million), 2020-2029
Table 20: Social Commerce by Desktop – Gross Merchandise Value (US$ Million), 2020-2029
Table 21: Social Commerce by Tier-1 Cities – Gross Merchandise Value (US$ Million), 2020-2029
Table 22: Social Commerce by Tier-2 Cities – Gross Merchandise Value (US$ Million), 2020-2029
Table 23: Social Commerce by Tier-3 Cities – Gross Merchandise Value (US$ Million), 2020-2029
Table 24: Social Commerce Payment by Credit Card – Gross Merchandise Value (US$ Million), 2020-2029
Table 25: Social Commerce Payment by Debit Card – Gross Merchandise Value (US$ Million), 2020-2029
Table 26: Social Commerce Payment by Bank Transfer – Gross Merchandise Value (US$ Million), 2020-2029
Table 27: Social Commerce Payment by Prepaid Card – Gross Merchandise Value (US$ Million), 2020-2029
Table 28: Social Commerce Payment by Digital & Mobile Wallet – Gross Merchandise Value (US$ Million), 2020-2029
Table 29: Social Commerce Payment by Other Digital Payment – Gross Merchandise Value (US$ Million), 2020-2029
Table 30: Social Commerce Payment by Cash – Gross Merchandise Value (US$ Million), 2020-2029
Table 31: Social Commerce Platforms by Video Commerce (Live Stream + Prerecorded) – Gross Merchandise Value (US$ Million), 2020-2029
Table 32: Social Commerce Platforms by Social Network-Led Commerce – Gross Merchandise Value (US$ Million), 2020-2029
Table 33: Social Commerce Platforms by Social Reselling – Gross Merchandise Value (US$ Million), 2020-2029
Table 34: Social Commerce Platforms by Group Buying – Gross Merchandise Value (US$ Million), 2020-2029
Table 35: Social Commerce Platforms by Product Review Platforms – Gross Merchandise Value (US$ Million), 2020-2029
Table 36: Social Commerce Contents by Live Streamers – Gross Merchandise Value (US$ Million), 2020-2029
Table 37: Social Commerce Contents by Gaming Streamers – Gross Merchandise Value (US$ Million), 2020-2029
Table 38: Social Commerce Contents by Reels – Gross Merchandise Value (US$ Million), 2020-2029
Table 39: Social Commerce Contents by Influencers – Gross Merchandise Value (US$ Million), 2020-2029
Table 40: Social Commerce Contents by Stories – Gross Merchandise Value (US$ Million), 2020-2029
Table 41: Social Commerce by Age Group – Gen Z (15-27) – Gross Merchandise Value Trend Analysis (US$ Million), 2020-2029
Table 42: Social Commerce by Age Group – Millennials (28–44) – Gross Merchandise Value Trend Analysis (US$ Million), 2020-2029
Table 43: Social Commerce by Age Group – Gen X (45 – 60) – Gross Merchandise Value Trend Analysis (US$ Million), 2020-2029
Table 44: Social Commerce by Age Group – Baby Boomers (60+) – Gross Merchandise Value Trend Analysis (US$ Million), 2020-2029