The report “Social Purchasing Market, By Type, By Application - Trends, Analysis and Forecast till 2032”

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Social Purchasing combines e-commerce with social media or shopping on internet by allowing users to buy products from online platforms like Facebook, Instagram, Amazon, and others and done by specialized posts with links to product pages. Increasing adoption of digital technology and growing number of social media platforms has become positive impact on target market growth. Use of social media and more time spent on these platforms in pandemic to buy online products and emerging online food services has further fueled the target market growth. Social commerce has given the brands the power of merging e-commerce sites and social media by providing huge branding opportunities and offers which attract consumers and thus, anticipated to increase demand for Social Purchasing market growth in coming years.

Key Highlights:

• In November 2021, BIG FM launched its new social commerce platform “BIG Living” to offer products that are designed for customers who care for themselves and environment and who want to live a sustainable life. New launched “BIG Living” platform will offer products from various sectors such as Health & Wellness, Locally Made, Giving Back, Workshops, Artisans and Designers with brands including, Lux, Soulspiti, Lyra, Jiden INC, Chitale Bandhu Mithaiwale, Sheth Brothers, Sunrise Masale, and others.
• In February 2022, Flipkart joined the live commerce bandwagon with largest e-tailers experimenting with medium. Flipkart betting big on live commerce and actively conducting live shopping streams on its app with social media influencers, and created a “feed” similar to one on photo and video sharing application on Instagram where prominent influencers can be showcasing wide variety of fashion wear which can be bought directly from feed

Analyst View:

The key factor driving the growth of the Social Purchasing market is increasing demand for Social Purchasing and increasing social media advertising. Social purchasing impact overall sales volume and provide benefits such as improves customer insights, improves customer engagement, higher search engine ranking, increased average order value and consistent audience growth which in turn, facilitated the target market growth. Moreover, increased number of buyers from various social platforms such as Snapchat, Pinterest is expected to drive the Social Purchasing market growth over the forecast period. As a result, market competition is intensifying, and both big international corporations and start-ups are vying to establish position in the market.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Social Purchasing Market, By Type (Advertising/SEO, Consulting Companies, Software Provider, and Social Commerce Platform), By Application (Entertainment, Food & Beverages, Retail & Clothing, Travel, and Other End User Industries), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”

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Key Market Insights from the report:

The Social Purchasing Market is segmented based on Type, Application and Region.

• Based on Type, Social Purchasing Market is segmented into Advertising/SEO, Consulting Companies, Software Provider, and Social Commerce Platform.
• Based on Application, Social Purchasing Market is segmented into Entertainment, Food & Beverages, Retail & Clothing, Travel, and Other End User Industries.
• By Region, the Social Purchasing Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Key benefits of Social Purchasing Market:

The social purchasing market offers several benefits to consumers, businesses, and society as a whole. Here are some key benefits:

⋆ Lower Prices: Social purchasing allows consumers to buy products and services in bulk, which can lead to lower prices due to economies of scale. This makes it easier for consumers to afford products that they may not have been able to purchase otherwise.
⋆ Environmental Impact: By buying in bulk, social purchasing reduces the amount of packaging waste and transportation emissions associated with individual purchases. This can lead to a smaller carbon footprint and a reduced impact on the environment.
⋆ Support for Local Businesses: Social purchasing can help support local businesses by promoting the purchase of locally produced goods and services. This can help to create jobs and boost the local economy.
⋆ Social Impact: Social purchasing can also support social causes and non-profit organizations by allowing consumers to donate a portion of their purchase to a chosen cause or by purchasing products that are made by socially responsible companies.
⋆ Convenience: Social purchasing provides a convenient way for consumers to purchase products and services without having to spend time searching for the best deals or negotiating prices.

Overall, the social purchasing market offers a win-win situation for consumers, businesses, and society by promoting sustainability, affordability, and social responsibility.

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Competitive Landscape & their strategies of Social Purchasing Market:

The prominent players operating in the Social Purchasing Market includes,
✤ Kupivip
✤ Living Social
✤ Milyoni
✤ Moontoast
✤ Payvment
✤ Ecwid
✤ Ghigg
✤ Groupon
✤ Beachmint
✤ 3dcart.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Key Questions Asked in Report:

Some key questions that may be asked in a report about the social purchasing market could include:

1. What is the current size and growth rate of the social purchasing market, and what factors are driving this growth?
2. Who are the key players in the social purchasing market, and what are their respective market shares and business models?
3. What are the main categories of products and services that are typically sold through social purchasing platforms, and how do they differ from traditional retail channels?
4. What are the benefits and challenges of social purchasing for consumers, businesses, and society as a whole?
5. How does social purchasing compare to other sustainable and ethical consumption practices, such as fair trade or organic certification
6. What are the emerging trends and innovations in the social purchasing market, and how are they likely to shape its future development?
7. What are the policy implications of social purchasing, and how can governments and other stakeholders encourage its growth and impact?

About Prophecy Market Insights:

Prophecy Market Insights is specialized market research, analytics, marketing/business strategy, and solutions that offers strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high-value opportunities in the target business area. We also help our clients to address business challenges and provide the best possible solutions to overcome them and transform their business.

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