Dublin, Feb. 22, 2024 (GLOBE NEWSWIRE) -- The "Africa & Middle East 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 recent research publication detailing comprehensive market intelligence on the burgeoning social commerce industry in Africa and the Middle East has been prominently added to our extensive library of industry reports. This pivotal dataset reveals over 50 KPIs and offers granular insights into social commerce trends, end-use sectors, operational metrics, retail product dynamics, and consumer demographics, with the latest Q1 2024 update.
Exponential Growth Expected in Social Commerce Market
Social commerce is poised to emerge as a force majeure in the digital retail landscape, demonstrating a compelling annual growth rate of 34.0% to reach an impressive US$12.58 billion in 2024. The report elucidates the trajectory that sees the social commerce Gross Merchandise Value (GMV) in the region expanding from US$9.39 billion in 2023 to a staggering US$42.54 billion by 2029.
This market upsurge is backed by widespread social media usage and the penetration of e-commerce across diverse demographics. Notably, the Middle East and African markets are creating a robust framework conducive to the ascent of social commerce.
Rising Popularity of Social Media Platforms Catalyzes Social Buying
A substantial segment of the Middle East population avidly engages with social media platforms, with countries like Qatar having nearly 98% social media penetration. The prolific rise of platforms such as TikTok is testament to the region's acceptance of social commerce, evident from the 41% of TikTok users in the GCC who have made purchases through the platform. In the Emirates, consumer behavior leans significantly towards purchasing branded products and even luxury items via social channels, signaling a fruitful environment for social commerce firms looking to elevate their market presence in the coming years.
B2B E-commerce Firms Venture into Social Commerce
The African market is witnessing a parallel narrative where the incorporation of social commerce strategies by small businesses is on the ascent due to limited capital to open stores or expand operations. Several B2B e-commerce players are recognizing the vast prospects within this sector, moving to capitalize on the burgeoning opportunities.
- MarketForce's launch of the Chpter platform in Kenya stands as a prime example, enhancing sales and revenue growth through leveraging social media interactions.
- SleekFlow announcing a fivefold revenue increase in the UAE during the first half of 2023 lays further credence to the potential held within these markets.
Comprehensive Coverage of Market Dynamics
The report extends an in-depth analysis spanning eight individual publications, each dissecting the nuances of social commerce within specific nations, including Egypt, Israel, Nigeria, Saudi Arabia, South Africa, Turkey, and the United Arab Emirates. Segments covered in the country reports include:
- Market Size and Growth Dynamics by KPIs
- Forecast by Retail Product Categories: From Clothing & Footwear to Hospitality
- Market Size by End Use Consumer Segment and Device
- Market Size by Location, from Domestic to Cross Border
- Market Size by Payment Method and Platforms
- Consumer Demographics & Behaviour Analysis
This invaluable databook allows strategists, marketers, and senior management to pinpoint growth sectors, tailor specific market strategies, and navigate the digital commerce landscape with authority and precision. These insights can be leveraged to harness emerging business and investment market opportunities, deploying a data-centric approach rooted in industry best practices.
The publication is part of our commitment to provide a thorough understanding of the social commerce market dynamics, offering actionable intelligence for those keen on capturing the essence of market opportunities in the rapidly transforming retail ecosystem in Africa and the Middle East.
Key Topics Covered
- Market Insights:
- Overview of Ecommerce and Social Commerce Industry
- Growth Trends Analysis
- Market Segmentation:
- Breakdown 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:
- Africa & Middle East
- Egypt
- Israel
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Detailed Reports on Key Regions:
- Market Dynamics:
- Drivers
- Restraints
- Opportunities
- Challenges
- Future Outlook:
- Forecasted Growth Dynamics
- Market Share Analysis
- Trend Analysis
- Methodology and Disclaimer:
- Insights into Research Methodology and Definitions
- Disclaimer Regarding Data Accuracy
Key Attributes
| Report Attribute | Details |
| No. of Pages | 420 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $12.6 Billion |
| Forecasted Market Value (USD) by 2029 | $42.5 Billion |
| Compound Annual Growth Rate | 27.6% |
| Regions Covered | Africa, Middle East |
Companies Mentioned
- YouTube
- Brimore
- Taager Shopping
- Divar Shopping
- Trumpet
- Digikala
- Boards
- Easy Social Shop
- GROO
- KiliShop
- Copia
- Jiji Nigeria
- Sendbox
- reselr.com
- Tajer
- Fordeal
- atonzo
- BabyGroup.co.za
- Trendyol
- TurkSey
- The Luxury Closet
- Zbooni
- SellAnyCar.com
- Floranow
For more information about this report visit https://www.researchandmarkets.com/r/wzxeyf
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
