$10.47 billion in German social commerce market opportunities by 2028 by end-use segment and device, location, payment method, demographics and consumer behavior

DUBLIN, May 27, 2022 /PRNewswire/ — The “Germany Social Commerce Market Intelligence Data Book and Future Growth Dynamics – Over 50 KPIs on Social Commerce Trends by End-Use Sectors, Operational KPIs, Retail Product Dynamics and Consumer Demographics – Q1 2022 Update” report has been added to from ResearchAndMarkets.com offer.

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According to the first quarter 2022 social commerce survey, the social commerce industry in Germany is expected to grow by 16.6% on an annual basis to reach $10,469.6 million in 2022.

The social commerce industry is expected to grow steadily over the forecast period, registering a CAGR of 15.1% during the period 2022-2028. The GMV of social commerce in the country will increase from US$10,469.6 million in 2022 to reach US$24022.4 million by 2028.

The growing interaction of consumers with brands on social media platforms, coupled with the shopping features offered by Facebook, Instagram and TikTok, has supported the rise of social commerce in Germany. As the trend gains momentum globally, social media platforms have also increased their spending in the social commerce space, providing German consumers with a more seamless shopping experience that is also personalized. and targeted.

Over the past four to eight quarters, smartphone and internet penetration rates have increased significantly in Germany, which has led to more and more online shoppers in the country. By 2025, Germany is expected to have around 69 million online shoppers. Notably, this growth in the number of online shoppers, as well as the number of social media users in the country, will continue to support the growth of the overall social commerce market in the short to medium term.

A substantial increase in the number of active social media users is driving the growth of the market by Germany

In 2019, the number of people active on social media platforms stood at around 31.5 million, almost 45% of the total population. However, due to the global pandemic outbreak, the number of active users has increased significantly in the country over the past four to eight quarters. According to the Q4 social commerce market survey, the number of active users increased to more than 65 million in 2021, accounting for about 79% of the country’s total population.

Additionally, mobile adoption among consumers has also become more prominent during the Covid-19 outbreak. As many as 64 million people access social media platforms through their mobile phones in Germany. This increase in consumer adoption of mobile has also supported the growth of social commerce over the past four to eight quarters. The publisher expects the trend to continue in the short to medium term, which will thus continue to support the overall market growth in the country.

A growing number of German brands are diving into the social commerce space to increase their market share

Amid the growing trend of social shopping among consumers of Germany, a growing number of brands are diving into the social commerce space to increase their market share. For instance,

  • Lidl, the German international chain of discount stores, uses Facebook for its social commerce strategy. Through the social media platform, the retailer receives a high level of engagement from consumers nationwide. Notably, the company engages in live streaming and partnering with influencers to increase revenue and sales.

  • German beauty retailer, Douglas, is another brand that has integrated social commerce strategy into its overall marketing mix in the country. Additionally, the brand airs a number of live shows, which include workshops and talks with influencers. With its social commerce strategy, the company claims to increase conversion rates by up to 40% by Germany.

Strategic partnerships multiply to exploit the German social commerce market
Amid the growing trend of social shopping among consumers, social media platforms and e-commerce enablers are entering into strategic partnerships to provide businesses with the tools to get their products online. For instance,

  • In April 2021, Pinterest has entered into a strategic partnership with Shopify to enable Shopify merchants to sell their products on the social media platform. Apart from Germanythe two companies have extended their partnership to 26 other countries, including Australia, Braziland the UK.

  • As part of the strategic partnership, Shopify merchants advertising on Pinterest will now have access to dynamic retargeting, allowing merchants to re-engage with Pinners who have already shown interest in their products on the social media platform. Additionally, merchants will also have access to more social commerce tools launched by Pinterest on their platform.

The publisher expects more such strategic partnerships over the next four to eight quarters as the social shopping trend grows among consumers. This will further promote the growth of germany the global social commerce industry from a short to medium term perspective.

Scope

This report provides an in-depth, data-driven analysis of social commerce in Germany. Below is a summary of the main market segments:

Germany E-commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators, 2019-2028

Germany Social Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators, 2019-2028

Germany social commerce industry market size and forecast by retail product categories, 2019-2028

Germany Social Commerce Industry Market Size and Forecast by End-Use Segment, 2019-2028

Germany Social Commerce Industry Market Size and Forecast by End-Use Device, 2019 – 2028

Germany Social Commerce Industry Market Size and Forecast by Location, 2019 – 2028

Germany Social Commerce Industry Market Size and Forecast by Location, 2019 – 2028

  • Tier 1 cities

  • Tier 2 cities

  • Tier 3 cities

Germany social commerce industry market size and forecast by payment method, 2019-2028

  • Credit card

  • Debit card

  • Payment

  • Prepaid card

  • Digital and mobile wallet

  • Other digital payment

  • Cash

Germany social commerce industry market size and forecast by demographics and consumer behavior, 2021

  • By age

  • By income level

  • By gender

For more information on this report, visit https://www.researchandmarkets.com/r/kz6umj

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