Taiwan Social Commerce Sector to Surge with Forecasted 31.7% Annual Growth, Reaching US$1.92 Billion in 2023

DUBLIN, Jan. 25, 2024 /PRNewswire/ -- The "Taiwan 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 - Q2 2023 Update" report has been added to ResearchAndMarkets.com's offering.

The social commerce industry in Taiwan is poised for significant expansion, with an anticipated growth rate of 31.7% year-on-year, culminating in a market valuation of US$1.92 billion in 2023. The sector demonstrates a robust upward trend, with projections of a compound annual growth rate (CAGR) of 27.6% from 2023 to 2028, subsequently ushering the social commerce Gross Merchandise Value (GMV) in Taiwan to an estimated US$6.51 billion by the end of the forecast period.

This invigorating uptrend signifies a sizeable shift in consumer buying patterns and the integration of social platforms with ecommerce activities. According to a comprehensive Q2 2023 market intelligence update, the industry's forward trajectory is fueled by a rich tapestry of over 50+ key performance indicators (KPIs), offering an extensive analysis of social commerce trends by end-use sectors, operational KPIs, retail product dynamics, and consumer demographics within the Taiwanese market.

The data-centric report sheds light on the burgeoning opportunities and potential risks within the social commerce space. This 360-degree view is pivotal for stakeholders seeking to navigate the intricacies of a rapidly evolving market landscape. The research adheres to industry best practices, utilizing a proprietary analytics platform to ensure an objective presentation of budding business and investment prospects.

Vital Segments in the Expanding Social Commerce Ecosystem

• Data-driven insights spanning from 2019 to 2028, encompassing market size and sectorial KPIs.
• Comprehensive market size and forecasts, segmented by popular retail product categories such as clothing, beauty products, and electronics.
• Examination of market size and forecasts within key end use segments, including B2B, B2C, and C2C models.
• Detailed forecasts by device usage, focusing on mobile versus desktop preferences.
• Geographical market size assessments, from domestic transactions to cross-border trade and the prominence of social commerce in various city tiers.
• An extensive review of payment method trends and forecasts, including digital wallets and traditional payment forms.
• An exploration of diverse social commerce platforms, like video commerce and social network-led avenues.
• Behavioral analysis of the market, outlined by consumer demographics such as age, income levels, and gender.

Strategic Implications for Market Players

The report is an indispensable resource for businesses and investors alike, designed to inform market-specific strategies by highlighting growth segments and pinpointing targeted opportunities. Essential insights into the social commerce landscape allow for the formulation of strategic initiatives, while also detailing the drivers and risks pertinent to the industry's success.

As the Taiwan social commerce market continues to expand, the value encased in the report is immeasurable for decision-makers seeking an in-depth understanding of market dynamics and consumer tendencies within this flourishing digital economy.

For more information about this report visit https://www.researchandmarkets.com/r/php07o

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SOURCE Research and Markets