Dublin, Feb. 22, 2024 (GLOBE NEWSWIRE) -- The "Latin America Social Commerce Market Intelligence and Future Growth Dynamics Databook - 50+ KPIs on Social Commerce Trends by End-Use Sectors, Operational KPIs, Retail Product Dynamics, and Consumer Demographics - Q1 2024 Update" report has been added to ResearchAndMarkets.com's offering.
The social commerce sector in Latin America is poised for significant growth, as underlined by the latest comprehensive research databook update for the first quarter of 2024. This databook offers noteworthy insights into more than 50 Key Performance Indicators (KPIs) on social commerce trends, spanning end-use sectors, operational KPIs, retail product dynamics, and consumer demographics.
With an anticipated annual growth rate of 30.0% reaching a market size of US$10.68 billion in 2024 in Latin America, the social commerce industry is on an upward trajectory. The databook forecasts a compounded annual growth rate (CAGR) of 24.0% from 2024-2029, with the social commerce Gross Merchandise Volume (GMV) set to rise exponentially from US$8.21 billion to US$31.24 billion by the end of 2029.
The rise of internet and smartphone penetration in the region, coupled with innovative market entrants, fuels the sector’s expansion. Brazil and Mexico are tipped as the frontrunners driving this regional market growth, with social media platforms engaging in strategic collaborations to further revenue growth.
TikTok’s venture into in-app ticket booking, through collaboration with Ticketmaster in Mexico, reflects its ambition to capitalize on the social commerce boom in Latin America. This initiative mirrors a global trend driven by Gen Z and millennial consumers, setting the stage for potentially lucrative returns as social buying becomes more entrenched.
Moreover, WhatsApp Business sees surging popularity in Brazil, integrating payment functions and product discovery, fostering effortless purchasing experiences within the app. This surge indicates a strategic opportunity for further alliances in the social commerce space.
The emergent corporate landscape in Latin America is also enriched by innovative startups pioneering in various sectors. Companies not only target specific consumer segments but aim to harness the influencing power of social channels across different industry verticals.
Market Scope and Segmentation Insights
The databook provides extensive country-specific analysis that encompasses numerous facets of the social commerce industry:
- Ecommerce Industry Growth Dynamics - Key performance overviews from 2020 to 2029.
- Social Commerce Market Size Projections - Detailed forecasting by retail product categories and end-use consumer segment.
- Device and Location-Based Analysis - Insightful data on consumer preferences based on device and location.
- Diverse Payment Method Perspectives - Trends and forecasts by payment methods used in social commerce transactions.
- Platform-Specific Growth Trends - From video commerce to group buying, dynamics shaping each platform.
- Consumer Demographics and Behavior Analysis - Statistical analysis differentiated by age, income level, and gender.
The databook serves as an authoritative source for businesses and stakeholders keen on developing targeted strategies to seize market opportunities in the rapidly growing social commerce industry.
Strategic Benefits of the Databook
- Acquire an in-depth understanding of market dynamics and emerging trends up till 2029.
- Assess the potential for growth across various end-use sectors and platforms.
- Develop market-specific strategies by identifying key growth segments.
These insights are crucial for formulating comprehensive strategies that align with consumer behavior, technological advancements, and competitive market forces shaping Latin America's social commerce industry.
The latest databook release encompasses extensive region and country-level data-centric analyses, with robust methodologies aligning with industry best practices, offering an unbiased view on emerging business and investment market opportunities.
Stakeholders, retailers, and platforms invested in the promising social commerce sector now have access to a wealth of knowledge to understand the intricacies of market dynamics and consumer preferences, which are integral for driving growth in this prolific sector across Latin America.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 350 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $10.7 Billion |
| Forecasted Market Value (USD) by 2029 | $31.2 Billion |
| Compound Annual Growth Rate | 24.0% |
| Regions Covered | Latin America |
Key Topics Covered
- Market Insights:
- Overview of Social Commerce Industry
- Trends Analysis
- Market Segmentation:
- By Location, Product Categories, End Use Consumer Segment, End Use Device, Cities, Payment Method, Platforms, Contents, Consumer Demographics & Behavior
- Regional Analysis:
- Detailed Reports on Key Regions:
- Latin America
- Argentina
- Brazil
- Colombia
- Mexico
- Detailed Reports on Key Regions:
- Market Dynamics:
- Drivers
- Restraints
- Opportunities
- Challenges
- Future Outlook:
- Forecasted Growth Dynamics
- Market Share Analysis
- Methodology and Disclaimer:
- Insights into Research Methodology and Definitions
- Disclaimer Regarding Data Accuracy
Companies Mentioned
- YouTube
- Facily
- Zoop Brasil
- LTK
- ESCAPESwithYOU
- Chile 360
- Fantastic
- Elenas
- Valienta
- Sav.com
- Truekeo.com
For more information about this report visit https://www.researchandmarkets.com/r/yl9sum
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