DUBLIN, Feb. 22, 2024 (Globe Newswire) — “Africa and Middle East Social Commerce Market Intelligence and Future Growth Dynamics Databook – 50+ KPIs on Social Commerce Trends by End-Use Sector, Operational KPIs, Retail Product Dynamics, and Consumer Demographics – Q1 2024 Update” report added ResearchAndMarkets.com Recruitment.
A recent research publication detailing comprehensive market intelligence on the rapidly growing social commerce industry in Africa and the Middle East is a great addition to our extensive library of industry reports. This important dataset reveals over 50 KPIs and provides detailed insights into social commerce trends, end-use sectors, operational metrics, retail product dynamics, and consumer demographics with the latest Q1 2024 update We provide
Social commerce market expected to grow dramatically
Social commerce has emerged as a force majeure in the digital retail industry, with an impressive annual growth rate of 34.0% and expected to reach USD 12.58 billion in 2024. This report reveals trends in social commerce gross merchandise value (GMV). ) The size of the region will grow from US$9.39 billion in 2023 to a staggering US$42.54 billion by 2029.
The rise of this market is supported by the widespread use of social media and the penetration of e-commerce into diverse demographics. Notably, markets in the Middle East and Africa are building a solid framework conducive to the rise of social commerce.
Increasing popularity of social media platforms drives social purchasing
A significant portion of the Middle East's population is actively participating in social media platforms, with social media penetration reaching nearly 98% in countries like Qatar. The tremendous rise of platforms such as TikTok is evidence that the region is embracing social commerce, as evidenced by the fact that 41% of TikTok users within the GCC made purchases through the platform. Emirates says consumer behavior is leaning heavily towards purchasing branded and even luxury goods via social channels, which could prove fruitful for social commerce companies looking to grow their presence in the market in the coming years. It shows that the environment is coming.
B2B e-commerce companies enter social commerce
We are seeing a similar situation in the African market where small and medium-sized businesses are increasingly adopting social commerce strategies due to limited capital to open stores and expand their operations. Several B2B e-commerce players have recognized the huge potential of this sector and are looking to capitalize on the burgeoning opportunity.
- MarketForce's Chpter platform launched in Kenya is a prime example, leveraging social media interactions to power sales and revenue growth.
- SleekFlow's announcement of a five-fold increase in revenue in the UAE in the first half of 2023 provides further confidence in the potential hidden in these markets.
Comprehensive coverage of market trends
This report expands on detailed analysis across eight separate publications that examine the nuances of social commerce in specific countries including Egypt, Israel, Nigeria, Saudi Arabia, South Africa, Turkey, and the United Arab Emirates. Masu. The segments covered in the country report are:
- Market size and growth dynamics by KPI
- Forecasts by Retail Product Category: From Clothing and Footwear to Hospitality
- Market size by end-use consumer segment and device
- Market size by region from within Japan to cross borders
- Market size by payment method and platform
- Consumer demographics and behavioral analysis
This valuable data book allows strategists, marketers, and senior executives to accurately identify growth sectors, adjust specific market strategies, and navigate the digital commerce landscape with authority and precision. . With these insights, you can deploy a data-centric approach rooted in industry best practices to take advantage of new business and investment market opportunities.
This publication reflects our commitment to thoroughly understand the social commerce market dynamics and provide practical information to those seeking to capture the essence of market opportunities in Africa and the Middle East's rapidly changing retail ecosystem. This is part of our efforts.
Covers key topics
- Market insights:
- E-commerce and social commerce industry overview
- Analysis of growth trends
- Market segmentation:
- Breakdown by location, product category, end-use consumer segment, end-use device, city, payment method, platform, content, and consumer demographics and behavior.
- Regional analysis:
- Detailed reports on key regions:
- africa and middle east
- Egypt
- Israel
- Nigeria
- Saudi Arabia
- South Africa
- turkey
- United Arab Emirates
- Detailed reports on key regions:
- Market dynamics:
- driver
- restraints
- opportunity
- assignment
- Future prospects:
- Expected growth dynamics
- market share analysis
- trend analysis
- Methodology and disclaimer:
- Insights into research methods and definitions
- Disclaimer regarding data accuracy
key attributes
| report attributes | detail |
| number of pages | 420 |
| Forecast period | 2024-2029 |
| Estimated market value in 2024 (USD) | $12.6 billion |
| Projected market value to 2029 (USD) | $42.5 billion |
| compound annual growth rate | 27.6% |
| Target area | Africa, Middle East |
Companies mentioned
- YouTube
- Bullimore
- Targer shopping
- Divar Shopping
- trumpet
- digital color
- board
- easy social shop
- glue
- Kiri Shop
- Copia
- Gigi Nigeria
- sending box
- reselr.com
- Tagel
- four deal
- Atonzo
- BabyGroup.co.za
- trendy all
- Turksey
- luxury closet
- Zubuni
- SellAnyCar.com
- Floranau
For more information on this report, please visit https://www.researchandmarkets.com/r/wzxeyf.
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Africa and Middle East Social Commerce Market
