Market size expands! Social e-commerce is developing rapidly in Japan and the United States

The epidemic has increased people's dependence on social media platforms. Most people spend a lot of time on social media platforms, such as reading news, entertainment and socializing. The increased activity of people on social media platforms has also led to the booming development of global social e-commerce.

At the beginning of the year, according to research by global service company Accenture, the growth rate of the global social e-commerce industry is expected to be three times that of the traditional e-commerce industry. It is estimated that by 2025, the scale of global social media e-commerce platforms will reach 1.2 trillion US dollars.

Japan and the United States are representative countries of the rapid development of social e-commerce and cannot be ignored.

Recently, according to Japan's social e-commerce data survey in the first quarter of 2022 , the social e-commerce industry will grow steadily during the forecast period, with a compound annual growth rate of 17.7% from 2022 to 2028; like Japan, the United States has provided fertile soil for the development of social e-commerce. According to reports, recently, the US social e-commerce platform Prismpop announced that it has received US$5 million in seed round financing.

Japan's social e-commerce industry is expected to grow at a compound annual growth rate of 17.7% from 2022 to 2028

The increased penetration rate of e-commerce platforms in Japan and the popularization of social e-commerce in small cities have led to strong growth in Japanese social e-commerce in the past year.

According to PayNXT360's survey on Japan's social e-commerce data in the first quarter of 2022 , Japan's social e-commerce industry is expected to grow at an annual rate of 16.9% in 2022 , with a compound annual growth rate of 17.7% during 2022-2028.

According to analysis and forecasts, the more popular retail products in Japan's social e-commerce market from 2019 to 2028 are clothing and footwear , beauty and personal care , food and groceries , electrical appliances and electronics , home decoration , etc.

There are two types of social e-commerce in Japan, one is local social e-commerce and the other is cross-border social e-commerce. It is predicted that the total commercial transaction volume of social e-commerce in Japan will increase from US$16.3919 billion in 2022 to US$43.9759 billion in 2028.

US social e-commerce platform Prismpop receives $5 million in seed round financing

Recently, the American social e-commerce platform Prismpop announced that it has received US$5 million in seed round financing . The proceeds from this round of financing will be used to strengthen platform construction, expand local services and expand team personnel.

Prismpop is a social shopping community for women where users can find new products they like, shopping recommendations, product reviews, beauty tips, fashion tips, food ideas , and more on the platform .

The platform aims to provide consumers with personalized content and social methods , and gradually inspire consumers to enter social shopping methods and share shopping experiences with friends on the platform .

Although some consumers still refuse to use social e-commerce platforms for shopping due to concerns about the imperfect return system of social e-commerce, overall, social e-commerce continues to maintain steady development and continues to expand its market share.

Social e-commerce

Japan

USA