(MENAFN- PR Newswire)
DUBLIN, May 27, 2022 /PRNewswire/ -- The 'Germany 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.
According to Q1 2022 Social Commerce Survey, the social commerce industry in Germany is expected to grow by 16.6% on annual basis to reach US$10469.6 million in 2022.The social commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 15.1% during 2022-2028. The social commerce GMV 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 shopping functionalities offered by Facebook, Instagram, and TikTok, have supported the rise of social commerce in Germany. With the trend gaining momentum globally, social networking platforms have also increased their spending in the social commerce space, thereby offering German consumers a more seamless shopping experience, which is also personalized and targeted.Over the last four to eight quarters, smartphone and internet penetration rates increased significantly in Germany, which has resulted in more and more online shoppers in the country. By 2025, Germany is expected to have approximately 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 keep supporting the growth of the overall social commerce market from the short to medium-term perspective. A substantial increase in the number of active social media users is driving market growth in Germany
In 2019, the number of people active on social media platforms stood at around 31.5 million, representing nearly 45% of the total population. However, because of the global pandemic outbreak, the number of active users surged significantly in the country over the last four to eight quarters. According to Q4 Social Commerce Market Survey, the number of active users increased to more than 65 million in 2021, which represents around 79% of the total population in the country.Moreover, mobile adoption among consumers also became more prominent during the Covid-19 outbreak. As many as 64 million people access social media platforms through their mobile phones in Germany. This rise in mobile adoption among consumers has also supported the growth of social commerce over the last four to eight quarters. The publisher expects the trend to continue from the short to medium-term perspective, which will thereby keep supporting 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
In the midst of the growing social shopping trend among consumers in Germany, an increasing number of brands are diving into the social commerce space to boost their market share. For instance,
- Lidl, the German international discount retailer chain, is using Facebook for its social commerce strategy. Through the social media platform, the retailer is receiving a high level of engagement from consumers in the country. Notably, the firm engages in live streaming and partnering with influencers to grow its revenue and sales.
- The German beauty retailer, Douglas, is another brand that has incorporated social commerce strategy in their overall marketing mix in the country. Moreover, the brand streams a number of live shows, which include workshops and talks with influencers. Through its social commerce strategy, the firm has claimed to increase its conversion rates by up to 40% in Germany.
Strategic partnerships are rising to tap 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 bring their products online. For instance,
- In April 2021, Pinterest entered into a strategic partnership with Shopify to enable merchants of Shopify to sell their products on the social media platform. Apart from Germany, the two firms have extended their partnership in 26 more countries, including Australia, Brazil, and the United Kingdom.
- Under the strategic partnership, Shopify merchants advertising on Pinterest will now have access to dynamic re-targeting, allowing the merchants to re-engage with Pinners who have previously shown interest in their products on the social media platform. Besides, 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 subsequently assist the growth of Germany's overall social commerce industry from the short to medium-term perspective. Scope
This report provides an in-depth, data-centric analysis of social commerce in Germany. Below is a summary of key market segments: Germany Ecommerce 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
- Clothing & Footwear
- Beauty and Personal Care
- Food & Grocery
- Appliances and Electronics
- Home Improvement
- Others
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
- Bank Transfer
- Prepaid Card
- Digital & Mobile Wallet
- Other Digital Payment
- Cash
Germany Social Commerce Industry Market Size and Forecast by Consumer Demographics & Behaviour, 2021
- By Age
- By Income Level
- By Gender
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