Dublin, May 12, 2022 (GLOBE NEWSWIRE) -- The "Brazil 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 Brazil is expected to grow by 44.9% on annual basis to reach US$2,218.6 million in 2022.
The social commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 39.7% during 2022-2028. The social commerce GMV in the country will increase from US$2,218.6 million in 2022 to reach US$15,901.7 million by 2028.
Social commerce has gained widespread popularity among consumers globally, including in Latin American countries such as Brazil. According to the publisher, purchasing products through social media platforms such as Facebook and Instagram is expected to grow faster than other traditional channels in the next six to eight quarters.
According to the Global Social Commerce Market Survey, more than half of the Brazilian consumers have made a social commerce purchase in the last four to six quarters. The growing internet and smartphone penetration rate among consumers is supporting the growth of the social commerce market in Brazil. Moreover, the shift towards digital channels has also resulted in an increased social buyer penetration rate in Brazil. According to the publisher, Brazil is projected to achieve a social buyer penetration rate of nearly 40%, which is the highest among all of the Latin American countries.
For social commerce shoppers in Brazil, features that help them discover and evaluate potential purchases play a much more important role as compared to pricing and discounts. Consequently, it is crucial for social commerce platforms to emphasize their user interface to make shopping more convenient for shoppers in the country.
Online influencers are assisting the growth of the social commerce industry in Brazil
In Brazil, online influencers are also driving the growth of the social commerce industry. Online influencers are playing an important role in getting consumers to buy products through social media platforms such as Facebook and Instagram. According to publisher's recent survey, more than 60% of the consumers have made purchases through these platforms without leaving the applications.
As of August 2021, nearly 26.5% of the consumers made purchases on social commerce live streams. With the credibility of influencers reaching more than 75% in Brazil, the publisher expects online influencers to keep driving social commerce sales through live streams and promotional campaigns over the next four to eight quarters. This will subsequently assist the growth of the overall social commerce industry in Brazil from the short to medium-term perspective.
Short video apps are partnering with retailers to launch live shopping services in Brazil
With social commerce gaining rapid traction among shoppers in the country, short video app services through strategic partnerships with retailers are looking to tap into the social commerce market.
- In December 2021, Kuaishou, a Chinese short video firm that operates Kwai - the firm's short video app for international markets, announced that the firm is doing live shopping experiments in Brazil. Notably, the firm launched the live shopping service in partnership with Casas Bahia - the top local appliance department store, and AmazFit - Xiaomi's fitness wristband.
- At present, the live shopping events are only available to select shoppers in Brazil, wherein they can make in-app purchases while watching the live streaming. Brazil being the key market for Kwai, the app witnessed an average of 26 million monthly active users during Q1 2021.
Social commerce platforms are recording strong growth as the business model gains widespread traction among consumers in Brazil
With the social commerce business model gaining widespread popularity among consumers and shoppers, firms have recorded strong growth over the last four quarters in Brazil.
- Facily, a social commerce platform that aims to provide a more inclusive e-commerce experience to low-income consumers, has gained widespread adoption for its business model in the country. Between Q1 2021 and Q3 2021, the firm recorded a sales volume growth of 43 times. On average, the platform processed more than 400,000 orders per day and facilitated over 7 million deliveries per month.
- Notably, the platform connects Brazilians with more affordable products and delivery. The business model adopted by the firm also involves offering group buying deals. Shoppers on the platform get access to a wide range of products, which includes groceries, electronics, and several others. Since its inception, the app has been downloaded more than 17.5 million times, thereby making it the top three downloaded applications in the country.
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
Brazil Ecommerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators, 2019-2028
Brazil Social Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators, 2019-2028
Brazil 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
Brazil Social Commerce Industry Market Size and Forecast by End Use Segment, 2019-2028
- B2B
- B2C
- C2C
Brazil Social Commerce Industry Market Size and Forecast by End Use Device, 2019-2028
- Mobile
- Desktop
Brazil Social Commerce Industry Market Size and Forecast by Location, 2019-2028
- Domestic
- Cross Border
Brazil Social Commerce Industry Market Size and Forecast by Location, 2019-2028
- Tier-1 Cities
- Tier-2 Cities
- Tier-3 Cities
Brazil 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
Brazil 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/6b23xm
