Brazil Social Commerce Market Databook 2024 - WhatsApp Business is Experiencing Strong Popularity in Brazil Amid the Growing Trend of Social Buying

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Feb 22, 2024, 21:15 ET

DUBLIN, Feb. 22, 2024 /PRNewswire/ -- 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 2024 Update" report has been added to ResearchAndMarkets.com's offering.

The social commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 25.7% during 2024-2029. The social commerce GMV in Brazil will increase from US$2.58 billion in 2023 to reach US$10.65 billion by 2029.

The social commerce market is expected to grow at a steady pace over the medium term in Brazil. The rising access to smartphones and growing internet penetration are supporting the uptake in social buying in the Latin American market. A higher amount of time spent on social platforms will also aid the growth of the industry from the short to medium-term perspective in Brazil.

To tap into the online commerce shift, social media platforms have also been forging strategic alliances to accelerate their revenue growth. The trend is projected to continue further over the medium term in the Brazilian market, as firms seek to capitalize on the growth opportunity. Overall, the publisher maintains a positive growth outlook for the social commerce industry in Brazil over the next three to four years.

WhatsApp Business is experiencing strong popularity in Brazil amid the growing trend of social buying

WhatsApp is one of the most popular social channels in Brazil. The usage rate of the instant messaging app is up in the 90's in the Latin American market. It is also one of the reasons why WhatsApp chose Brazil to test its payment function, WhatsApp Pay. Meta also entered into a strategic collaboration with Mercado Libre, enabling small businesses to showcase their product catalog on WhatsApp.

The integration of payments and product discovery features, therefore, enables users to make seamless purchases without leaving the app. The soaring popularity of the instant messaging app is also reflected in the revenue generated by WhatsApp Business in Brazil. Going forward, the publisher expects WhatsApp to forge more strategic alliances, as part of its strategy to drive revenue growth by leveraging the popularity of social commerce features. This, in turn, will support the growth of the industry over the next three to four years in Brazil.

Young shoppers will continue to drive the growth of the social commerce market in Brazil in 2024

The growth in the social buying sector is projected to be largely driven by the rising uptake of social media platforms among young generation Brazilians. Gen Z and millennials are expected to lead the growth of social commerce over the medium term in the Brazilian market. Consequently, the publisher expects platforms like TikTok to record strong growth over the next three to four years in Brazil, as the social channel is widely popular among young generation users. TikTok, notably, has also announced the launch of its music streaming platform in Brazil in 2023. This shows that the firm is committed to increasing its investment in the Brazilian market over the next three to four years.

This report provides a detailed data centric analysis of social commerce industry, covering market opportunities and risks. With over 50+ KPIs at country level, this report provides a comprehensive understanding of social commerce market dynamics, market size and forecast, and market share statistics.

Companies Profiled

Instagram
Facebook
YouTube
Facily
Zoop Brasil
LTK

Report Scope

This report provides in-depth, data-centric analysis of social commerce in Brazil. Below is a summary of key market segments:

Brazil Ecommerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators, 2020-2029

Brazil Social Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators, 2020-2029

Brazil Social Commerce Industry Market Size and Forecast by Retail Product Categories, 2020-2029

Clothing & Footwear
Beauty and Personal Care
Food & Grocery
Appliances and Electronics
Home Improvement
Travel
Hospitality

Brazil Social Commerce Industry Market Size and Forecast by End Use Consumer Segment, 2020-2029

Brazil Social Commerce Industry Market Size and Forecast by End Use Device, 2020-2029

Mobile
Desktop

Brazil Social Commerce Industry Market Size and Forecast by Location, 2020-2029

Domestic
Cross Border

Brazil Social Commerce Industry Market Size and Forecast by Location, 2020-2029

Tier-1 Cities
Tier-2 Cities
Tier-3 Cities

Brazil Social Commerce Industry Market Size and Forecast by Payment Method, 2020-2029

Credit Card
Debit Card
Bank Transfer
Prepaid Card
Digital & Mobile Wallet
Other Digital Payment
Cash

Brazil Social Commerce Industry Market Size and Forecast by Platforms

Video Commerce
Social Network-Led Commerce
Social Reselling
Group Buying
Product Review Platforms

Brazil Social Commerce Industry Market Size and Forecast by Consumer Demographics & Behaviour,2023

By Age
By Income Level
By Gender

For more information about this report visit https://www.researchandmarkets.com/r/l4245y

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