European social e-commerce is growing rapidly! It is expected to reach US$67.2037 billion in 2022

Consumers’ increasing interaction with brands on social media platforms, coupled with shopping features offered by Facebook, Instagram and TikTok, has supported the development of social commerce in Europe.

According to a survey by ResearchAndMarkets, the social e-commerce industry in Europe is expected to grow by 36.5% annually. In 2022, the social e-commerce market will reach US$67.2037 billion, with a compound annual growth rate of 36.0% from 2022 to 2028.

With the rise of social commerce in Europe, social media platforms, retailers and technology giants have increased their investment in the field over the past two years.

The following is a detailed analysis of the development status of social e-commerce platforms in Germany, the United Kingdom and France based on data surveys.

Germany: The substantial increase in the number of social media users has driven the growth of the social e-commerce market

In the past one to two years, with the popularization of smartphones and the Internet in Germany, more and more Germans are shopping online.

In the short to medium term, the growth in the number of online shoppers and social media users will continue to support the growth of the overall social commerce market.

According to the Q4 social e-commerce market survey, the number of active social e-commerce users in Germany increased to more than 65 million in 2021, accounting for approximately 79% of the country's total population.

As the trend of social shopping among consumers rises, social media platforms and e-commerce service providers are forming strategic partnerships to provide retailers with tools to bring their products online.

In April 2021, German social media platform Pinterest and e-commerce service provider Shopify are establishing a strategic partnership to enable Shopify merchants to sell their products on the social media platform.

In addition to Germany, the two companies have expanded their partnership to 26 countries including Australia, Brazil and the United Kingdom.

UK: Fashion retailers begin to enter social e-commerce platforms

According to a survey, more than 50% of the UK population relies on social e-commerce to purchase fashion products.

Nearly 25% of shoppers purchased clothing, 20% purchased beauty products, and about 19.5% purchased home electronics through social commerce.

Therefore, in order to develop more customers, more and more fashion retailers are beginning to enter the UK's social e-commerce platforms.

Beauty brand L'Oréal has partnered with social platform TikTok to enable its customers in the UK to purchase products through TikTok .

France: Social e-commerce focuses on promoting high-end products to gain more profits

Like Germany and the UK, French consumers are increasingly favoring social e-commerce.

Among the social e-commerce platforms, nearly 75% of consumers prefer Facebook, about 25% of consumers choose Instagram, and Snapchat is favored by 10.8% of consumers in the country.

But it is worth noting that the survey found that nearly 80% of French consumers purchased products on social e-commerce platforms for less than US$55. The main reason is that French consumers do not trust social e-commerce platforms.

Social e-commerce platforms need more publicity and promotion, control the quality of brand entry, build trust among consumers, and focus on promoting high-end products. This can further increase the overall transaction volume of social e-commerce platforms and maintain the steady growth of the social e-commerce market size.

Social e-commerce

Europe