50+ KPIs on Social Commerce Trends by End-Use Sectors, Operational KPIs, Retail Product Dynamics and Consumer Demographics
DUBLIN, July 4, 2022 /PRNewswire/ — The “Argentina Social Commerce Market Intelligence and Future Growth Dynamics Databook 2022” report has been added to ResearchAndMarkets.com’s offering.
The social commerce market is gaining momentum along with the rise of e-commerce in Argentina. Over the last four to eight quarters, the social commerce industry has gained rapid momentum across Latin America, especially in Brazil and Mexico. The trend is also gaining momentum in other Latin American countries, such as Argentina, where the e-commerce industry has recorded significant growth ever since the outbreak of Covid-19. In parallel to the growth achieved by the e-commerce sector, buying through social media platforms has also gained popularity among consumers.
Key Findings:
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The social commerce industry in Argentina is forecast to grow by 47.6% on annual basis to reach US$1110.9 million in 2022.
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The social commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 39.8% during 2022-2028.
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The social commerce GMV in the country will increase from US$1110.9 million in 2022 to reach US$7838.0 million by 2028.
While the major chunk of online shoppers still prefers buying through e-commerce platforms, the popularity of the social commerce business model is gaining ground in the country. According to Q1 2022 Global Social Commerce Market Survey, nearly 7.5% of the consumers prefer buying through social commerce, whereas the number is more than 35% for e-commerce platforms. However, with the growing popularity of the social commerce industry in Latin America, more and more consumers are expected to adopt social commerce in the country over the next four to eight quarters.
The survey also revealed that close to 45% of the consumers are not able to differentiate one channel from another in Argentina. Consequently, it suggests that there is ample growth room for the social commerce industry in the country, provided that social commerce platforms can create awareness and differentiate themselves from e-commerce platforms. As more consumers shift to social commerce platforms over the next few quarters in the country, the publisher expects more global and regional players to enter the Argentinian social commerce market.
Approximately 40% of the consumers in the country have made purchases through social commerce platforms. However, as the business model becomes clearer to consumers in Argentina, the adoption rate is expected to surge significantly from the short to medium-term perspective.
Social networks are offering tools to small businesses to gain market share in Argentina
Social media platforms offer small business owners tools to set up their virtual shops on the platform to penetrate the social commerce sector. During the global pandemic, this strategy of offering tools to businesses helped social networks to gain widespread popularity in the social commerce market in Argentina. Moreover, the shift toward online shopping among consumers has also led these social media platforms to innovate with their service offerings in the last few quarters.
With the online shopping trend expected to continue among
