DUBLIN, Feb. 22, 2024 (GLOBE NEWSWIRE) — “Germany Social Commerce Market Intelligence and Future Growth Dynamics Databook – Social Commerce Trends by End-Use Sector, Operational KPIs, Retail Product Dynamics, and 50+ KPIs on Consumer Demographics – Added “Q1 2024 Update” report ResearchAndMarkets.com Recruitment.
The social commerce industry is expected to grow steadily during the forecast period, registering a CAGR of 12.1% during 2024-2029. The country's social commerce GMV is expected to reach USD 24.52 billion by 2029, up from USD 12.08 billion in 2023.
In the German market, social buying trends are expected to increase at a steady pace in the medium term. To capitalize on the growing sector, social media platforms are launching new social commerce features in Germany. This trend is expected to continue further in the medium term, driving innovation and the competitive environment in this sector over the next three to four years. With the market poised for record growth, e-commerce platforms are also adding social commerce features to their platforms to help grow sales and revenue in the German market. Overall, the company maintains its outlook for strong growth in the German social commerce market over the next three to four years.
Social platform expands partnership and launches in-app purchase feature in German market
To capitalize on the growing trend of social purchasing and accelerate revenue growth, the social media platform is launching new in-app purchase functionality in the German market through expanded collaboration.
- For example, TikTok extended its strategic partnership with Ticketmaster in December 2023. With the extended collaboration, TikTok will now allow users to discover events and purchase tickets within the app. The company initially launched its social purchasing feature in the US market in 2022 and is currently expanding the service in global markets, including Germany.
From a short-to-medium term perspective, publishers expect TikTok to further introduce similar features in the European market, thereby encouraging investment in the space and driving industry growth over the next three to four years. There is.
E-commerce platforms are adding social commerce features to accelerate revenue growth
E-commerce platforms are seeing sales decline as social buying trends increase among younger shoppers. As a result, companies are adding new social commerce features to their platforms to attract younger shoppers who make purchasing decisions based on recommendations from friends and influencers.
- Amazon launched the Ask a Friend feature in Germany in October 2023. This allows shoppers to send messages to people who are seeking advice. Messages include links to new experiences, and your friends can react to the products they see using comments and emojis. This feature allows Amazon to tap into her non-Amazon users and potentially drive new users to the platform. This is because you must be signed in to reply to queries from your friends.
Going forward, the analyst expects Amazon to introduce more such social commerce features into its e-commerce platform, supporting the sector's growth in Germany over the next three to four years.
This report provides a detailed data-centric analysis of the Social Commerce industry, covering market opportunities and risks. This report includes over 50 KPIs at the country level to provide a comprehensive understanding of Social Commerce market dynamics, market size and forecast, and market share statistics.
Research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to provide a detailed view of opportunities in emerging business and investment markets.
Report scope
Germany e-commerce industry market size and future growth dynamics by key performance indicators, 2020-2029
Germany Social Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators, 2020-2029
Germany Social Commerce Industry Market Size and Forecast by Retail Product Category, 2020-2029
- clothing and footwear
- beauty and personal care
- food and groceries
- Home appliances/electronic equipment
- home repair
- trip
- hospitality
Germany Social Commerce Industry Market Size and Forecast by End-Use Consumer Segment, 2020-2029
Germany Social Commerce Industry Market Size and Forecast by End Use Device, 2020-2029
Germany Social Commerce Industry Market Size and Forecast by Location, 2020-2029
Germany Social Commerce Industry Market Size and Forecast by Location, 2020-2029
- first class city
- 2nd class city
- 3rd class city
German social commerce industry market size and forecast by payment method, 2020-2029
- credit card
- debit card
- Bank transfer
- prepaid card
- Digital & Mobile Wallet
- Other digital payments
- cash
Germany social commerce industry market size and forecast by platform
- video commerce
- Social network-driven commerce
- social resale
- group purchase
- product review platform
German social commerce industry market size and forecast by consumer demographics and behavior, 2023
- By age
- By income level
- By gender
Companies mentioned
- mobile.de
- Zalando
- ideal
Reasons to buy
- Deep understanding of Social Commerce market dynamics: Understand market opportunities and key trends with forecasts (2020-2029).
- Insights into opportunities by end-use sector: Understand market trends by end-use sector and evaluate emerging opportunities across various end-use sectors.
- Develop a market-specific strategy: Identify growth segments and target specific opportunities to develop a social commerce strategy. Assess key market-specific trends, drivers, and industry risks.
key attributes
| report attributes | detail |
| number of pages | 70 |
| Forecast period | 2024-2029 |
| Estimated market value in 2024 (USD) | $13.9 billion |
| Projected market value to 2029 (USD) | $24.5 billion |
| compound annual growth rate | 12.1% |
| Target area | Germany |
For more information on this report, please visit https://www.researchandmarkets.com/r/nxzc1g.
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source of international market research reports and market data. We provide the latest data on international and regional markets, key industries, top companies, new products and latest trends.
-
German social commerce market
