Summary

According to PayNXT360, social commerce industry in India is expected to grow by 39.8% on annual basis to reach US$5498.0 million in 2023.

The social commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 23.8% during 2022-2028. The social commerce GMV in the country will increase from US$5498.0 million in 2023 to reach US$19834.0 million by 2028.

The advent of social commerce has changed the way micro, small, and medium-sized enterprises (MSMEs) are doing business in India. Millions of individuals and MSMEs across the country are leveraging the strong network of social media platforms to generate income and grow their businesses. For many MSMEs, reselling and social commerce platforms such as Meesho, Shopsy, and Shop101, have brought in incremental revenue.

Flexibility in operations, low upfront investment, and wider reach among consumers have led to the growth of the social commerce business model in the country. Amid the growing influence of digital information on consumers, PayNXT360 also expects direct-to-consumer brands to increase their presence in the social commerce sector, as it has the potential to influence the purchase behavior of customers.

Indian social commerce firms are seeking to strengthen their regional foothold in the country

The growing digitalization is expected to introduce millions of new consumers to the world of online shopping in India. Consequently, to tap into the new and potential customer base, social commerce firms are adding support for more regional languages to their mobile applications.

• In December 2022, Shopsy, the social commerce platform launched by Flipkart, announced that the firm had introduced app interfaces in Tamil and Telugu languages. This is part of the firm’s strategy to further reach more consumers in the above regions, as it seeks to strengthen its foothold in the market. From the short to medium-term perspective, the firm is planning to add support for more regional languages.
• In August 2022, Meesho, another player in the social commerce sector, announced that the firm is adding support for eight Indian languages to tap into more customers ahead of the festive season. The strategy of strengthening its regional foothold by offering support for regional languages had played out well for Meesho. In December 2022, the firm announced that it had processed 910 million orders in 2022, achieving a year-over-year growth of 135%.

Meesho, which initially invested significantly in its social commerce offering, is now focusing more on the direct-to-customer model. In 2022, the firm reported that 75% of its revenue has come from the D2C segment, compared to 25% from resellers. This shift in strategy from major players like Meesho can impact the growth rate of the social commerce sector in India.

Social commerce firms are launching private brand products to drive topline growth in India

The competitive landscape has grown significantly in the Indian social commerce space. With new players entering the market and the projected growth over the next few years, the industry is expected to become even more competitive. Consequently, firms are launching their private brand products to drive topline growth. For instance,
• In November 2022, DealShare, a leading social commerce firm, announced the launch of private brand products on the platform. The launch of new products is part of its strategy to gain further share in the growing social commerce market, while also driving the growth of its topline. As of November 2022, the firm launched 52 products across categories, including home cleaning, male grooming, and more. Over the next two to three years, the firm is planning to further launch more private brand products in its portfolio and has dedicated an investment of INR 5 billion during the period.

In FY 2022, the firm reported a revenue of INR 19.33 billion, representing a growth of 8.2 times compared to FY 2021. In FY 2023, the firm is expected to further report strong growth in its revenue.

Meta is seeking to drive the social commerce growth wave in India through more JioMart-like alliances with WhatsApp

Meta and Reliance entered into a strategic collaboration earlier in 2022, thereby allowing Indian consumers to shop for grocery products directly from WhatsApp. With millions of active daily users on the chat application, the strategic collaboration sent shock waves among leading e-commerce players such as Amazon and Flipkart. The two firms launched the social commerce service in September 2022, allowing consumers to place their grocery orders on JioMart and make payments directly through WhatsApp.

With more than two million merchant partners on the JioMart platform, Meta is aiming to build a strong presence in the social commerce sector through WhatsApp. Other players are also keenly watching the tie-up between Meta and Reliance and the impact it can have on their businesses. Consequently, going forward, more businesses can partner with Meta to sell products and services through WhatsApp. On the other hand, Meta can leverage its strong user base and active monthly users on WhatsApp to forge alliances and push its growth in the social commerce industry 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.

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Table of Contents

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

2. India Ecommerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators
2.1. India Ecommerce - Gross Merchandise Value Trend Analysis, 2019-2028
2.2. India Ecommerce - Average Value Per Transaction Trend Analysis, 2019-2028
2.3. India Ecommerce - Transaction Volume Trend Analysis, 2019-2028

3. India Social Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators
3.1. India Social Commerce - Gross Merchandise Value Trend Analysis, 2019-2028
3.2. India Social Commerce - Transaction Volume Trend Analysis, 2019-2028
3.3. India Social Commerce - Average Value Per Transaction Trend Analysis, 2019-2028
3.4. India Social Commerce Market Share Analysis by Key Players, 2021

4. India Social Commerce Industry Market Size and Forecast by Retail Product Categories
4.1. India Social Commerce Market Share by Retail Product Categories (%), 2022 Vs. 2028
4.2. India Social Commerce Clothing & Footwear - Gross Merchandise Value Trend Analysis, 2019-2028
4.3. India Social Commerce Beauty and Personal Care - Gross Merchandise Value Trend Analysis, 2019-2028
4.4. India Social Commerce Food & Grocery - Gross Merchandise Value Trend Analysis, 2019-2028
4.5. India Social Commerce Appliances and Electronics - Gross Merchandise Value Trend Analysis, 2019-2028
4.6. India Social Commerce Home Improvement - Gross Merchandise Value Trend Analysis, 2019-2028
4.7. India Social Commerce Travel - Gross Merchandise Value Trend Analysis, 2019-2028
4.8. India Social Commerce Hospitality - Gross Merchandise Value Trend Analysis, 2019-2028

5. India Social Commerce Industry Market Size and Forecast by End Use Segment
5.1. India Social Commerce Market Share by End Use Segment (%), 2022 Vs. 2028
5.2. India Social Commerce B2B Segment - Gross Merchandise Value Trend Analysis, 2019-2028
5.3. India Social Commerce B2C Segment - Gross Merchandise Value Trend Analysis, 2019-2028
5.4. India Social Commerce C2C Segment - Gross Merchandise Value Trend Analysis, 2019-2028

6. India Social Commerce Industry Market Size and Forecast by End Use Device
6.1. India Social Commerce Market Share by End Use Device (%), 2022 Vs. 2028
6.2. India Social Commerce by Mobile - Gross Merchandise Value Trend Analysis, 2019-2028
6.3. India Social Commerce by Desktop - Gross Merchandise Value Trend Analysis, 2019-2028

7. India Social Commerce Industry Market Size and Forecast by Location
7.1. India Social Commerce Market Share by Location (%), 2022 Vs. 2028
7.2. India Social Commerce by Cross Border - Gross Merchandise Value Trend Analysis, 2019-2028
7.3. India Social Commerce by Domestic - Gross Merchandise Value Trend Analysis, 2019-2028

8. India Social Commerce Industry Market Size and Forecast by Cities
8.1. India Social Commerce Market Share by Cities (%), 2022 Vs. 2028
8.2. India Social Commerce by Tier-1 Cities - Gross Merchandise Value Trend Analysis, 2019-2028
8.3. India Social Commerce by Tier-2 Cities - Gross Merchandise Value Trend Analysis, 2019-2028
8.4. India Social Commerce by Tier-3 Cities - Gross Merchandise Value Trend Analysis, 2019-2028

9. India Social Commerce Industry Market Size and Forecast by Payment Method
9.1. India Social Commerce Market Share by Payment Method (%), 2022 Vs. 2028
9.2. India Social Commerce Payment by Credit Card - Gross Merchandise Value Trend Analysis, 2019-2028
9.3. India Social Commerce Payment by Debit Card - Gross Merchandise Value Trend Analysis, 2019-2028
9.4. India Social Commerce Payment by Bank Transfer - Gross Merchandise Value Trend Analysis, 2019-2028
9.5. India Social Commerce Payment by Prepaid Card - Gross Merchandise Value Trend Analysis, 2019-2028
9.6. India Social Commerce Payment by Digital & Mobile Wallet - Gross Merchandise Value Trend Analysis, 2019-2028
9.7. India Social Commerce Payment by Other Digital Payment - Gross Merchandise Value Trend Analysis, 2019-2028
9.8. India Social Commerce Payment by Cash - Gross Merchandise Value Trend Analysis, 2019-2028

10. India Social Commerce Industry Market Size and Forecast by Platforms
10.1. India Social Commerce Market Share by Platforms Method (%), 2022 Vs. 2028
10.2. India Social Commerce Platforms by Video Commerce (Live Stream + Pre-recorded) - Gross Merchandise Value Trend Analysis, 2019-2028
10.3. India Social Commerce Platforms by Social Network-Led Commerce - Gross Merchandise Value Trend Analysis, 2019-2028
10.4. India Social Commerce Platforms by Social Reselling - Gross Merchandise Value Trend Analysis, 2019-2028
10.5. India Social Commerce Platforms by Group Buying - Gross Merchandise Value Trend Analysis, 2019-2028
10.6. India Social Commerce Platforms by Product Review Platforms - Gross Merchandise Value Trend Analysis, 2019-2028

11. India Social Commerce Industry Market Size and Forecast by Contents
11.1. India Social Commerce Market Share by Contents (%), 2022 Vs. 2028
11.2. India Social Commerce Contents by Live Streamers - Gross Merchandise Value Trend Analysis, 2019-2028
11.3. India Social Commerce Contents by Gaming Streamers - Gross Merchandise Value Trend Analysis, 2019-2028
11.4. India Social Commerce Contents by Reels - Gross Merchandise Value Trend Analysis, 2019-2028
11.5. India Social Commerce Contents by Influencers - Gross Merchandise Value Trend Analysis, 2019-2028
11.6. India Social Commerce Contents by Stories - Gross Merchandise Value Trend Analysis, 2019-2028

12. India Social Commerce Industry Market Size and Forecast by Consumer Demographics & Behaviour
12.1. India Social Commerce Spend Share by Age Group, 2022
12.2. India Social Commerce by Age Group - Gen Z (15-27) - Gross Merchandise Value Trend Analysis, 2019-2028
12.3. India Social Commerce by Age Group - Millennials (28-44) - Gross Merchandise Value Trend Analysis, 2019-2028
12.4. India Social Commerce by Age Group - Gen X (45 - 60) - Gross Merchandise Value Trend Analysis, 2019-2028
12.5. India Social Commerce by Age Group - Baby Boomers (60+) - Gross Merchandise Value Trend Analysis, 2019-2028
12.6. India Social Commerce Share by Income Level, 2022
12.7. India Social Commerce Share by Gender, 2022

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

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List of Tables/Graphs

Table 1: India Ecommerce – Gross Merchandise Value (US$ Million), 2019-2028
Table 2: India Ecommerce – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 3: India Ecommerce – Transaction Volume (Million), 2019-2028
Table 4: India Social Commerce – Gross Merchandise Value (US$ Million), 2019-2028
Table 5: India Social Commerce – Transaction Volume (Million), 2019-2028
Table 6: India Social Commerce – Average Value Per Transaction Trend Analysis (US$), 2019-2028
Table 7: India Social Commerce Clothing & Footwear – Gross Merchandise Value (US$ Million), 2019-2028
Table 8: India Social Commerce Beauty and Personal Care – Gross Merchandise Value (US$ Million), 2019-2028
Table 9: India Social Commerce Food & Grocery – Gross Merchandise Value (US$ Million), 2019-2028
Table 10: India Social Commerce Appliances and Electronics – Gross Merchandise Value (US$ Million), 2019-2028
Table 11: India Social Commerce Home Improvement – Gross Merchandise Value (US$ Million), 2019-2028
Table 12: India Social Commerce Travel – Gross Merchandise Value (US$ Million), 2019-2028
Table 13: India Social Commerce Hospitality – Gross Merchandise Value (US$ Million), 2019-2028
Table 14: India Social Commerce B2B Segment – Gross Merchandise Value (US$ Million), 2019-2028
Table 15: India Social Commerce B2C Segment – Gross Merchandise Value (US$ Million), 2019-2028
Table 16: India Social Commerce C2C Segment – Gross Merchandise Value (US$ Million), 2019-2028
Table 17: India Social Commerce by Mobile – Gross Merchandise Value (US$ Million), 2019-2028
Table 18: India Social Commerce by Desktop – Gross Merchandise Value (US$ Million), 2019-2028
Table 19: India Social Commerce by Cross Border – Gross Merchandise Value (US$ Million), 2019-2028
Table 20: India Social Commerce by Domestic – Gross Merchandise Value (US$ Million), 2019-2028
Table 21: India Social Commerce by Tier-1 Cities – Gross Merchandise Value (US$ Million), 2019-2028
Table 22: India Social Commerce by Tier-2 Cities – Gross Merchandise Value (US$ Million), 2019-2028
Table 23: India Social Commerce by Tier-3 Cities – Gross Merchandise Value (US$ Million), 2019-2028
Table 24: India Social Commerce Payment by Credit Card – Gross Merchandise Value (US$ Million), 2019-2028
Table 25: India Social Commerce Payment by Debit Card – Gross Merchandise Value (US$ Million), 2019-2028
Table 26: India Social Commerce Payment by Bank Transfer – Gross Merchandise Value (US$ Million), 2019-2028
Table 27: India Social Commerce Payment by Prepaid Card – Gross Merchandise Value (US$ Million), 2019-2028
Table 28: India Social Commerce Payment by Digital & Mobile Wallet – Gross Merchandise Value (US$ Million), 2019-2028
Table 29: India Social Commerce Payment by Other Digital Payment – Gross Merchandise Value (US$ Million), 2019-2028
Table 30: India Social Commerce Payment by Cash – Gross Merchandise Value (US$ Million), 2019-2028
Table 31: India Social Commerce Platforms by Video Commerce (Live Stream + Prerecorded) – Gross Merchandise Value (US$ Million), 2019-2028
Table 32: India Social Commerce Platforms by Social Network-Led Commerce – Gross Merchandise Value (US$ Million), 2019-2028
Table 33: India Social Commerce Platforms by Social Reselling – Gross Merchandise Value (US$ Million), 2019-2028
Table 34: India Social Commerce Platforms by Group Buying – Gross Merchandise Value (US$ Million), 2019-2028
Table 35: India Social Commerce Platforms by Product Review Platforms – Gross Merchandise Value (US$ Million), 2019-2028
Table 36: India Social Commerce Contents by Live Streamers – Gross Merchandise Value (US$ Million), 2019-2028
Table 37: India Social Commerce Contents by Gaming Streamers – Gross Merchandise Value (US$ Million), 2019-2028
Table 38: India Social Commerce Contents by Reels – Gross Merchandise Value (US$ Million), 2019-2028
Table 39: India Social Commerce Contents by Influencers – Gross Merchandise Value (US$ Million), 2019-2028
Table 40: India Social Commerce Contents by Stories – Gross Merchandise Value (US$ Million), 2019-2028
Table 41: India Social Commerce by Age Group – Gen Z (15-27) – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Table 42: India Social Commerce by Age Group – Millennials (28–44) – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Table 43: India Social Commerce by Age Group – Gen X (45 – 60) – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028
Table 44: India Social Commerce by Age Group – Baby Boomers (60+) – Gross Merchandise Value Trend Analysis (US$ Million), 2019-2028