DUBLIN–(BUSINESS WIRE)–The “Italy 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 2022 Update” report has been added to ResearchAndMarkets.com’s offering.
Social commerce industry in Italy is expected to grow by 67.4% on annual basis to reach US$4,235.3 million in 2022
The social commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 56.6% during 2022-2028. The social commerce GMV in the country will increase from US$4,235.3 million in 2022 to reach US$58,413.4 million by 2028.
The phenomenon of social commerce is one of the most crucial paradigm changes that many brands are starting to deal with in Italy. While the new way of commerce has been gaining increasing ground among both brands and consumers globally, especially in countries like China, the United States, India, and Brazil, the social commerce model is still in its early stages of development; however, it is expected to gain widespread popularity among both consumers and brands in the country.
Italian consumers have started to use different social media platforms, such as Facebook and Instagram, for product discovery. Moreover, there is also a growing interest among consumers to purchase products directly from social media platforms. According to the Global Social Commerce Market Survey, around half of the social media users have expressed their interest in the possibility of conducting purchases from different social media platforms.
Leading social networking platforms, including Facebook, Instagram, and TikTok are launching innovative social commerce features for Italian brands and consumers to increase their market share in the social commerce market in Italy. The publisher expects with high potential of the social commerce market investment from private equity firms and venture capitals to increase in the next four to six quarters.
Social media platforms are launching new features to make social commerce more seamless in Italy
As the demand for social shopping continues to gain momentum among consumers in Italy, social media platforms have also increased their investment and presence in the social commerce sector over the last few quarters. Notably, platforms such as Facebook and Instagram are launching new features for both brands and consumers, making social commerce more seamless for both parties involved. For instance, in June 2021, Facebook launched new ads features to personalize the shopping experience for its users.
With the sector expected to grow significantly from the short to medium-term perspective, the publisher expects further investments from these big social networking platforms in Italy to launch more new innovative features. This will keep supporting the growth of the overall social commerce industry over the next four to eight quarters in the country.
Different industries are launching social commerce platforms to increase market share in the country
As the social shopping method continues to gain ground and popularity among consumers, different industries and brands are incorporating social commerce in their strategy to generate more traction and engagement among their customers.
In April 2021, Elektra, the Italy-based global brand which sells espresso machines, entered the social commerce space with the launch of its new social commerce platform.
The platform will allow thousands of consumers to connect with the firm, become part of the community, and choose their coffee corner from the comfort of their homes.
Currently, the e-shop launched by the firm is available only in Italy; however, the firm is planning to roll out the platform for consumers in other European nations over the next few quarters.
As social commerce continues to become more and more popular in Italy, the publisher expects more brands to launch their social commerce products over the next four to eight quarters.
Reasons to buy
In-depth Understanding of Social Commerce Market Dynamics: Understand market opportunities and key trends along with forecast (2019-2028).
Insights into Opportunity 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.
Scope
Italy Ecommerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators, 2019-2028
Italy Social Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators, 2019-2028
Italy Social Commerce Industry Market Size and Forecast by Retail Product Categories, 2019-2028
Clothing & Footwear
Beauty and Personal Care
Food & Grocery
Appliances and Electronics
Home Improvement
Others
Italy Social Commerce Industry Market Size and Forecast by End Use Segment, 2019-2028
B2B
B2C
C2C
Italy Social Commerce Industry Market Size and Forecast by End Use Device, 2019-2028
Mobile
Desktop
Italy Social Commerce Industry Market Size and Forecast by Location, 2019-2028
Domestic
Cross Border
Italy Social Commerce Industry Market Size and Forecast by Location, 2019-2028
Tier-1 Cities
Tier-2 Cities
Tier-3 Cities
Italy Social Commerce Industry Market Size and Forecast by Payment Method, 2019-2028
Credit Card
Debit Card
Bank Transfer
Prepaid Card
Digital & Mobile Wallet
Other Digital Payment
Cash
Italy Social Commerce Industry Market Size and Forecast by Consumer Demographics & Behaviour, 2021
By Age
By Income Level
By Gender
For more information about this report visit https://www.researchandmarkets.com/r/200hka
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