India Social Commerce Market to Grow at 27.96% During 2024-2032, Stimulated by the Rapid Digitalization

July 13, 2023 | Technology & Media

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According to the latest report by IMARC Group, titled “India Social Commerce Market Report by Business Model (Business to Consumer (B2C), Business to Business (B2B), Consumer to Consumer (C2C)), Device Type (Laptops and PCs, Mobiles, and Others), Product Type (Personal and Beauty Care, Apparels, Accessories, Home Products, Health Supplements, Food and Beverages, and Others), and Region 2024-2032,” the India social commerce market is expected to grow at a CAGR of 27.96% during 2024-2032. Social commerce refers to the fusion of social media and e-commerce, where online shopping experiences are integrated into social media platforms. It encompasses the use of social networks to facilitate buying and selling of products and services. It leverages the power of social connections and user-generated content to drive purchasing decisions. It provides a seamless shopping experience, allowing users to discover products, interact with sellers, and make purchases without leaving the platform. It enables businesses to engage directly with their customers, build brand loyalty, and gather valuable customer insights. It also allows users to check product reviews and recommendations from their friends or influencers they follow, which can significantly influence their purchasing decisions.

India Social Commerce Market Trends:

Rapid digitalization is driving the market in India. This is primarily attributed to the widespread availability of affordable and high-speed internet services, providing marketers with a new avenue to connect with their target audiences. Moreover, continuous advancements in technologies, such as artificial intelligence (AI), big data, and blockchain, are enhancing customer loyalty and retention, thus creating a positive market outlook. Additionally, major companies are heavily investing in emerging technologies, including chatbots, machine learning, and augmented reality, to enhance the customer experience, further augmenting the market demand. Besides, the integration of content sharing, shopping, payment, and messaging features is positively impacting the market. Furthermore, the rising adoption of digital services in business processes and evolving market trends are encouraging the utilization of social commerce for business-to-business (B2B) transactions. Other factors, such as the growth of e-commerce, the increasing significance of cross-border commerce, evolving consumer lifestyles, and the rise of live-stream shopping trends, are also influencing the market across India.

Market Summary:

Based on the business model, the market has been segmented into business to consumer (B2C), business to business (B2B), and consumer to consumer (C2C).
On the basis of the device type, the market has been divided into laptops and PCs, mobiles, and others.
Based on the product type, the market has been bifurcated into personal and beauty care, apparels, accessories, home products, health supplements, food and beverages, and others.
Region-wise, the market has been segmented into North India, West and Central India, South India, and East India.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Business Model, Device Type, Product Type, Region
Region Covered	North India, West and Central India, South India, East India
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2699 Five User License: US$ 3699 Corporate License: US$ 4699
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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India Social Commerce Market to Grow at 27.96% During 2024-2032, Stimulated by the Rapid Digitalization

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