Dublin, Feb. 22, 2024 (GLOBE NEWSWIRE) -- The "Germany 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 industry is expected to grow steadily over the forecast period, recording a CAGR of 12.1% during 2024-2029. The social commerce GMV in the country will increase from US$12.08 billion in 2023 to reach US$24.52 billion by 2029.
The trend of social buying is expected to increase at a steady pace over the medium term in the German market. To tap into the growing sector, social media platforms are launching new social commerce features in Germany. This trend is projected to continue further over the medium term, driving innovation and competitive landscape in the sector over the next three to four years. With the market poised to record growth, e-commerce platforms are also adding social commerce capabilities to their platforms to aid sales and revenue growth in the German market. Overall, the publisher maintains a robust growth outlook for the social commerce market in Germany over the next three to four years.
Social platforms are extending their partnerships to launch in-app buying features in the German market
To tap into the growing trend of social buying and accelerate revenue growth, social media platforms are launching new in-app buying features in the German market through extended collaborations.
- TikTok, for instance, extended its strategic partnership with Ticketmaster in December 2023. With the extended collaboration, TikTok is allowing users to discover events and buy tickets in-app. The firm initially launched the social buying feature in the United States market in 2022 and is now expanding the service in global markets, including Germany.
From the short to medium-term perspective, the publisher expects TikTok to launch more such features in the European market, thereby driving investment in the sector and subsequently aiding the industry growth over the next three to four years.
E-commerce platforms are adding social commerce functionality to accelerate revenue growth
With the trend of social buying rising among young generation shoppers, e-commerce platforms are losing sales. Consequently, to attract young shoppers, who make purchase decisions through friends' and influencers' recommendations, firms are adding new social commerce features to their platforms.
- Amazon, in October 2023, launched the Consult-a-Friend feature in Germany. This enables shoppers to send a message to people whose advice they seek. The message includes a link to new experiences, where friends can react to products shown using commentary or emojis. The feature will also enable Amazon to tap into non-Amazon users, potentially driving new users to the platform. This is because, for replying to any query from a friend, people need to be signed in.
Going forward, the analyst expects Amazon to launch more such social commerce capabilities to its e-commerce platform, supporting the sector growth over the next three to four years in Germany.
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.
The 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.
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 Categories, 2020-2029
- Clothing & Footwear
- Beauty and Personal Care
- Food & Grocery
- Appliances and Electronics
- Home Improvement
- Travel
- Hospitality
Germany Social Commerce Industry Market Size and Forecast by End Use Consumer Segment, 2020-2029
- B2B
- B2C
- C2C
Germany Social Commerce Industry Market Size and Forecast by End Use Device, 2020-2029
- Mobile
- Desktop
Germany Social Commerce Industry Market Size and Forecast by Location, 2020-2029
- Domestic
- Cross Border
Germany Social Commerce Industry Market Size and Forecast by Location, 2020-2029
- Tier-1 Cities
- Tier-2 Cities
- Tier-3 Cities
Germany 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 Payment
- Cash
Germany Social Commerce Industry Market Size and Forecast by Platforms
- Video Commerce
- Social Network-Led Commerce
- Social Reselling
- Group Buying
- Product Review Platforms
Germany Social Commerce Industry Market Size and Forecast by Consumer Demographics & Behaviour, 2023
- By Age
- By Income Level
- By Gender
Companies Mentioned
- mobile.de
- Zalando
- idealo
Reasons to Buy
- In-depth Understanding of Social Commerce Market Dynamics: Understand market opportunities and key trends along with forecast (2020-2029).
- Insights Into Opportunities by End-use Sectors: Get market dynamics by end-use sectors to assess emerging opportunity across various end-use sectors.
- Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate social commerce strategy; assess market specific key trends, drivers, and risks in the industry.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 70 |
| Forecast Period | 2024-2029 |
| Estimated Market Value (USD) in 2024 | $13.9 Billion |
| Forecasted Market Value (USD) by 2029 | $24.5 Billion |
| Compound Annual Growth Rate | 12.1% |
| Regions Covered | Germany |
For more information about this report visit https://www.researchandmarkets.com/r/nxzc1g
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