#social commerce e-commerce market research PayNXT360

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Trendio and Flip are taking the competition to TikTok with TikTok-style shopping capabilities

Millions of shoppers are turning to social media platforms for product discovery and purchases worldwide. The trend, which increased significantly during the global pandemic outbreak, is growing year over year in the United States. In 2023, the social commerce market is expected to reach US$62.91 billion, according to PayNXT360 estimates. By 2028, the gross merchandise volume will increase to US$145.22 billion. To tap into the high-growth market, new and existing players are entering the e-commerce segment and are taking the competition to TikTok by leveraging TikTok-style shopping capabilities.

To know more and gain a deeper understanding of the social commerce market in the United States, click here.

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Restaurants are leveraging conversational commerce to drive new customer experiences in 2023

To drive revenue growth, build customer loyalty, and boost customer engagement, restaurants are seeking ways to remove friction from experiences. Conversational commerce is emerging as an innovative way for restaurants to achieve this, while also enabling them to overcome the significant labor challenges faced.

Many of the leading brands, in the quick-service restaurant space, have already deployed conversational commerce capabilities into their operational mix to drive innovative customer experiences.

Panera Bread, for instance, announced that loyalty members can ask Alexa via Echo Show devices to order lunch. The conversational commerce capabilities, announced in March 2023, have been developed in partnership with Amazon. However, for consumers to place orders through Alexa, they will first have to store a payment method with the Echo Show account. Moreover, if the order is a delivery, customers will also have to store their address in the MyPanera account.

Before launching the conversational commerce service, Panera worked with Amazon to help Alexa learn the menu. The feature also enables customers to ask for customizations, if needed. Furthermore, Alexa can also assist customers in tracking their deliveries. Currently, conversational commerce capabilities have been launched only for MyPanera members.

Alongside Panera Bread, Chipotle, Domino’s, and Checkers & Rally’s are among the other fast-food restaurant chains that are using artificial intelligence-powered voice bots to take customer orders. This trend is projected to pick up further momentum in the United States in 2023, as conversational commerce continues to become widely popular among shoppers in the North American market.

Yum Brands, the parent firm that operates KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill, has significantly invested in the conversational commerce segment. This investment has driven positive results for the quick-service restaurant giant.

While discussing its Q4 2022 results in February 2023, Yum Brands announced that its conversational commerce platform Tictuk is driving the digital customer base and sales. In 2022, the firm processed millions of orders through Tictuk. This shows that conversational commerce has the capability to drive incremental revenue for restaurants.

The launch of the chat ordering feature in KFC Mexico resulted in over 90% of users who made transactions through the chat channel being first-time digital customers, indicating a high level of adoption of the new feature. At the end of 2022, the technology was live in more than 3,200 stores across 49 markets. In 2023, the firm is planning to add conversational commerce capabilities to another 1,000 stores.

At a time when inflation is rising and consumers are subsequently cutting down on their restaurant spending, such conversational commerce capabilities have been shown to drive incremental revenue by creating innovative experiences for customers. Consequently, PayNXT360 expects more players in the quick-service restaurant industry to implement conversational commerce strategy into their marketing mix to drive revenue and sales growth, while also enhancing engagement with customers.

Not just restaurant brands, but even retail giants such as Walmart are launching conversational commerce capabilities. This shows that the new way of commerce is certainly on the rise.

In January 2023, Walmart announced the launch of a text-to-shop feature, enabling customers to shop for their favorite in-store products through text. Currently, the firm has launched a shopping experience for customers in the United States. However, with the growing momentum in the space, PayNXT360 expects Walmart to roll out the facility in more of its worldwide markets.

The entry of all of these big retailers and quick-service restaurant brands in the segment means that the investment in the conversational commerce space is expected to grow significantly over the next three to four years. This will subsequently also lead to the growth of the overall social commerce market from the short to medium-term perspective, while also driving innovation and a competitive landscape in the segment.

To know more and gain a deeper understanding of the social commerce market in the United States, click here.

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Conversational commerce will aid the growth of the global social commerce industry in 2023

Conversational commerce is gaining strong momentum and the trend is projected to further continue in 2023. The rise of interactive marketing messages, coupled with the surge in live shopping events, is expected to drive industry growth. Although the live streaming and shopping sector is still in its nascent stages of development, the market is poised to record strong growth over the next five years, as consumers seek a more interactive and enhanced shopping experience. To capitalize on the potentially lucrative market, many firms - including e-commerce platforms - are launching and expanding their live shopping capabilities.

In January 2023, Shopstar, an Africa-based e-commerce platform, announced the launch of Flick Live, a social commerce platform wherein brands and retailers can sell their products, interact with consumers, and gain potential customers through live streams. The live shopping platform is interoperable with any existing e-commerce platform. To drive the adoption of the social commerce platform, Shopstar is following success-based pricing, meaning that it charges a commission only when the retailer makes a sale.

In addition to new platform launches, existing players in the live-streaming social commerce segment are also seeking to expand their geographical footprint, with the aim to record strong growth over the next five years. Voggt, the European provider of video shopping services, announced that the firm is launching its video e-commerce platform in the United Kingdom in November 2022. This will enable Brits to shop and collect comic books, sports memorabilia, playing cards, fashion products, and sneakers, among others.

The platform is seeking to enhance shopping experiences for Brits. Furthermore, it also seeks to improve customer engagement. Consequently, Voggt is also offering a chat feature for shoppers where they can share views and ideas.

Notably, conversational commerce is projected to become the next big trend in the social commerce industry. Globally, many of the leading brands and e-commerce platforms are partnering with messaging apps, such as WhatsApp, to drive customer engagement and revenue growth.

In December 2022, Carrefour, one of the leading retailers in Europe, announced that the firm had entered into a strategic collaboration with WhatsApp, enabling consumers to order gifts through the messaging app during Christmas. The pilot project, launched between December 5 to December 21, allowed customers to purchase products across different non-food categories, such as gaming, household appliances, toys, and high-tech. The collaboration with WhatsApp is part of the firm’s strategy to boost customer engagement and provide them with innovative shopping experiences.

In the Middle East, Mall of the Emirates announced that it is allowing shoppers to purchase products from over 350 international and domestic brands entirely through WhatsApp. With conversational commerce, Mall of the Emirates is seeking to bridge the gap between physical stores and digital platforms. Lulu Hypermarket, on the other hand, also launched an artificial intelligence-powered customer experience on WhatsApp in March 2023.

Meesho, one of the leading firms in the e-commerce market in India, announced the firm is running a pilot project with WhatsApp for conversational commerce. Through the initiative, announced in March 2023, the firm is positioning itself to launch a personalized conversational platform for the next 200 million consumers in India. With curated product recommendations, Meesho aims to deliver a tailored shopping experience for its shoppers through conversational commerce capabilities.

With over half a billion people using WhatsApp in India, the collaboration with WhatsApp can bring several million new shoppers for Meesho from the short to medium-term perspective. In 2022, JioMart also collaborated with WhatsApp, allowing Indian consumers to shop for groceries and other daily products through the messaging app. With conversational commerce gaining rapid momentum, PayNXT360 expects more such strategic collaborations between retailers, e-commerce platforms, and WhatsApp in 2023.

WhatsApp is seeking to become one of the largest players in the conversational commerce sector. These partnerships with leading retailers and e-commerce firms are an indication of its ambitions in the social commerce market.

In November 2022, Meta, which owns WhatsApp, launched a new business search feature for WhatsApp. The feature allows users to search businesses, find, and buy products in-app. This service is currently active in Brazil, Indonesia, Colombia, Mexico, and the United Kingdom.

From the short to medium-term perspective, the firm is expected to launch in-app business search and shopping capabilities in more countries. With its large user base globally, WhatsApp is well-positioned to capitalize on the growing trend of conversational commerce over the next five years. The growing penetration of WhatsApp in the segment will, therefore, also aid the growth of the global social commerce industry.

To know more and gain a deeper understanding of the global social commerce market, click here.

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Social commerce has emerged as a new way to reach millions of online shoppers from smaller cities in India

E-commerce has been rapidly growing in India, with more and more consumers flocking to online shopping channels for their daily needs. However, while larger cities in the country have been the main drivers of e-commerce growth, the potential for expansion in smaller cities and towns is now being recognized. Over the next three to four years, consumers in Tier III cities and beyond are expected to contribute significantly to the total incremental growth of the e-commerce market. This presents a significant opportunity for e-commerce companies looking to expand their customer base in India.

One way that firms are looking to tap into this potential is through social commerce. In India, social media platforms are becoming an increasingly popular way for consumers to discover new products and make purchases. This presents a huge opportunity for e-commerce companies to reach new customers in smaller cities and towns through social media platforms. By using social commerce, e-commerce companies can create a more seamless shopping experience for consumers, who can discover products and make purchases without having to leave their social media app.

In addition to the convenience factor, social commerce also offers a way for e-commerce firms to build trust with consumers in smaller cities and towns. Meesho, now one of the leading players in the segment, has been able to build trust with its shoppers through the social commerce business model. Over the years, lack of trust has been a critical factor affecting e-commerce adoption in India. By allowing consumers to make purchases through social media platforms that they are already familiar with and trust, e-commerce platforms can help to overcome this barrier.

With the potential to achieve higher consumer traction and revenue growth, many e-commerce firms in India are investing in social commerce and developing new strategies to reach consumers in smaller cities and towns, and the trend is projected to further continue in 2023. To promote products and services, firms are also partnering with social media influencers. Over the years, social media influencers have become a popular way for brands to reach younger audiences in India, with many consumers turning to influencers for product recommendations and reviews. By partnering with influencers, e-commerce firms can tap into this trend and reach new audiences in smaller cities and towns in 2023.

The influencer-focused social commerce vertical is becoming increasingly competitive in 2023. This is expected to result in a growing number of mergers and acquisition deals in India over the next 12 months.

In March 2023, The Good Creator Co., the influencer-focused vertical operated by the Good Glamm Group, entered into an acquisition deal with Bulbul, the social commerce startup. The acquisition of Bulbul will bolster the Good Glamm Group’s creator strategy and will also enable the firm to access consumers from Tier II and III cities of India.

The Good Glamm Group has continued with its acquisition strategy in 2023. Including Bulbul, the firm had acquired eight startups since 2022. While the social commerce sector offers a lucrative growth opportunity and more such acquisition deals are expected to take place in 2023, mounting losses and increased competition has also resulted in many players shutting down their social commerce business vertical.

In March 2023, YouTube, owned by Google, announced that the firm is shutting down its live social commerce app Simsim, which it acquired for US$70 million. The development comes two years after the acquisition of Simsim. Notably, growing losses posted by the firm have triggered the downfall of the platform.

Even though YouTube is shutting down Simsim, it announced that it will continue to bet on the social commerce vertical and will work with creators to introduce new monetization opportunities. Alongside YouTube, Amazon has also boosted its presence in the Indian social commerce sector in 2022. The e-commerce giant launched its live commerce service in India in October 2022.

These trends indicate that global investment in the Indian social commerce market is projected to grow significantly over the next 12 months, as players look to capitalize on the next growth wave in the Indian e-commerce industry.

To know more and gain deeper understanding of the social commerce market in India, click here.

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Chinese social media platforms are betting on livestreaming e-commerce to generate more revenue and profit

The last 12 months have been a difficult period for both e-commerce and social commerce players in China. Many firms, operating across product categories, have shut operations owing to a slowdown in consumer spending and venture capital funding in the region. Those operational, are now seeking to revive their growth and generate more revenue and profit, in 2023.

Xiaohongshu, for instance, has announced that the firm is planning to upgrade its livestreaming business to an independent department. Furthermore, to generate more revenue and profit from the livestreaming business vertical, the social media platform is planning to increase the proportion of effective advertisements, thereby targeting more brands to conduct livestreaming sessions on the platform.

Compared to other social media and livestreaming platforms such as Douyin, Kuaishou, and Taobao, Xiaohongshu has entered the livestreaming industry vertical relatively late in the Chinese market. Consequently, to keep up pace with these industry giants, the firm has been consistently seeking to improve its product offering. In February 2023, Xiaohongshu announced that the firm is planning to launch a new chat feature that is aimed at expanding the social interaction element of the platform.

The chat feature, which creates an opportunity for users to create communities for connecting over niche interests, is aimed at encouraging users to spend more time on the social media platform. With users spending more time on the platform, Xiaohongshu will be subsequently able to attract more advertisers on the platform, thereby driving more revenue for the firm. For influencers and retailers, on the other hand, the new feature can assist in driving more traffic to their profiles and subsequently, the purchases.

In March 2023, Xiaohongshu also announced that the platform now allows direct links to Taobao on open-screen ads. These new feature additions, along with an enhanced focus on livestreaming, is part of the firm’s strategy to diversify the functionality and compete with players such as Douyin and Kuaishou, which are recording strong growth in the short-video space.

In China, Xiaohongshu has gained widespread traction among consumers and has recorded strong growth ever since its launch in the country. The addition of these new features and services will further aid social media's popularity in the Chinese market. Over the next three to four years, PayNXT360 expects Xiaohongshu to also expand its presence in the global market, a strategy that has been adopted by its competitors such as Douyin (TikTok).

In February 2023, Douyin's parent firm, ByteDance, announced that the firm is launching Xiaohongshu competitor Lemon8 in the United States and the United Kingdom market. Lemon8, which resembles Xiaohongshu, was first launched in the Japanese market in 2020 and since has been launched in several global markets over the last two years.

PDD Holdings, the parent firm of the social media platform Pinduoduo, is also expanding its global footprint. The firm, which initially launched Temu in the United States in September 2022, has now launched the e-commerce shopping platform in Australia and New Zealand in March 2023. The shopping app was also launched in Canada in February 2023.

Unlike Temu, which has gained widespread popularity in the United States market owing to its low-pricing strategy, Lemon8 will find it difficult to penetrate the North American market. Instagram has built a reputation for itself in the United States. Lemon8, which offers services similar to Instagram will, therefore, find it difficult to gain popularity among the users in the region.

ByteDance also launched Lemon8 in the Chinese market under the name of Kesong in July 2022. However, owing to the widespread popularity of Xiaohongshu in the Chinese market, ByteDance removed Kesong from the app store only a few weeks later. However, in the global markets, Lemon8 has found widespread success, especially in markets like Japan and Thailand.

With many of the Chinese social commerce firms expanding their global presence, Xiaohongshu is also expected to adopt the same strategy from the short to medium-term perspective. With competition growing in the domestic industry, all of these firms are seeking to drive the next growth phase by expanding into international markets.

To know more and gain a deeper understanding of the Chinese social commerce industry, click here.

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Firms are making a push in the Emirates social commerce industry to capitalize on the high growth potential of the sector

Over the last few years, the government in the United Arab Emirates has encouraged digitalization among both individuals as well as organizations. This has resulted in the growing usage of social media platforms. According to a report from the Telecommunications and Digital Government Regulatory Authority, the United Arab Emirates is ranked first globally, when it comes to the use of social media based on the average time spent on platforms per capita. As compared to the global average of 58.4%, the average for Emirates stands at 106%.

This, along with the fact that the e-commerce segment has recorded impressive growth in the country over the last few years, foreign and domestic firms are making a push in the Emirates social commerce industry to capitalize on the high growth potential of the sector. For instance,

In September 2022, respond.io, a Malaysia-based conversational commerce platform, announced that the firm is planning to further boost its presence in the United Arab Emirates social commerce sector. Over the next few years, the firm is expected to increase its investment in the country as it seeks to capitalize on the growing social commerce space.

Notably, the announcement from the firm comes after closing a US$7 million Series A funding round. The investment was led by Headline, and also included participation from AltalR Capital, Sterling Oak Group, Smart Partnership Capital, and Calendula Ventures.

Notably, the Emirati social commerce industry is already one of the biggest revenue drivers for respond.io. Over the last 12 months, leading to September 2022, the firm has recorded revenue growth of 236.23% in the Emirates. The firm has attributed this growth to its ability to empower retailers with tools, thereby enabling them to convert social media engagements into sales.

While the firm is planning to use the fresh capital for expanding its partner network, respond.io is especially focused on partnering with large telecom players in the country, to make their solutions available more conveniently.

Alongside foreign players such as respond.io, domestic firms are also making a push into the growing social commerce industry in the United Arab Emirates, as more and more consumers continue to buy products and services through social media platforms. For instance,

In September 2022, PayTabs, one of the leading payments service providers in the region, announced that freelancers, consultants, and micro vendors, among others, across the Emirates and Saudi Arabia, will be able to accept payments on its social commerce platform, Paymes.

Notably, Paymes allows merchants to create a cart and share it with customers through social platforms such as WhatsApp and Instagram. This ensures that merchants are able to convert potential buyers into actual customers. For shoppers, Paymes offers a more seamless shopping experience.

The integration of PayTabs payment service with Paymes will further improve the buying and selling experience for both shoppers and merchants in the region. Along with its presence in the GCC region, Paymes is also available across key African markets such as Egypt.

Over the next three to four years, the social commerce sector in the Emirates is expected to be driven by the beauty and personal care industry. According PayNXT360, the social commerce beauty and personal care sector is projected to reach over US$500 million by 2026. Currently, the market is estimated to be US$174 million. This shows that there is a lot of headroom for growth over the next few years. This growth potential is expected to drive more interest from foreign and domestic players. Consequently, PayNXT360 expects further innovation and competition in the Emirates social commerce industry over the next three to four years, as more and more consumers continue to turn to social media platforms to purchase products across different categories.

To know more and gain a deeper understanding of the social commerce market in the UAE, click here.

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Big players are eyeing the social commerce sector to further drive their growth

The social commerce sector has emerged as one of the primary growth drivers for the e-commerce industry globally. While live streaming shopping and purchases through messaging platforms have been mainstream in China for several years, the trend of shopping through social media platforms has grown significantly around the world over the last two years. During the global pandemic period, an increasing number of existing and new shoppers turned to social commerce platforms to complete their purchases online. Globally, the social commerce sector is projected to record significant growth over the next three to four years. Consequently, big players across the world are eyeing the social commerce sector to further drive their growth. For instance,

Amazon, one of the leading e-commerce firms around the world, is amplifying its presence in the social commerce space. Notably, the firm is boosting its presence in the social commerce space in China, where the sector is dominated by homegrown players such as Pinduoduo. To gain more traction from Gen Z shoppers, Amazon has launched a group-buying function in partnership with WeChat. Through the WeChat mini program, Amazon is looking to compete with players such as Douyin, Pinduoduo, and Xiaohongshu in China.

Along with China, Amazon is also seeking to make a push in the Indian social commerce segment, where the industry has recorded strong growth amid rising number of online shoppers. In April 2022, Amazon acquired GlowRoad, a social commerce startup that focuses on female customers. While the terms of the deal were not disclosed by Amazon, the acquisition comes at the time when its rival, Flipkart, is achieving massive growth in the social commerce space in India. Notably, Flipkart has onboarded more than 100 million users onto its social commerce platform Shopsy, much ahead of its initial target of December 2022.

Shopify, another e-commerce giant, has turned to social commerce as it continues to grapple with a slowdown in e-commerce growth. Notably, in June 2022, the firm announced a strategic collaboration with Twitter, thereby allowing its merchants to add product catalogs to their profiles on the social platform. Furthermore, Shopify also teamed with YouTube in July 2022, allowing merchants to convert their channels into digital storefronts.

In China, Alibaba, one of the leading e-commerce platforms, announced the launch of new a social commerce platform Taibang in April 2022. The social commerce platform aimed at reaching young generation consumers, especially Gen Z, enables shoppers to find and purchase niche labels. Furthermore, users can connect with brand managers and create a community.

The launch of the social commerce app is part of the firm’s strategy to make a push into the segment which is growing rapidly in China. Notably, in March 2022, Kuaishou, a video-sharing social commerce platform, announced the termination of its partnership with Alibaba. In 2021, players such as Douyin and Xiaohongshu also terminated their partnership with Alibaba to create independent firms in the space. As these players have shifted and turned into direct competitors, the push from Alibaba in the social commerce space is no surprise.

These new product launches, strategic collaborations, and acquisition deals in the social commerce space from e-commerce behemoths indicate the growth potential of the sector. As a result of this, major retailers are also seen amplifying their presence in the social commerce space to drive their growth. For instance,

In September 2022, Walmart Connect announced an Innovation Partner Program as part of its strategy to boost the social commerce sector. Notably, the Innovation Partner Program enables advertisers to access channels such as live streaming, entertainment, t-commerce, and social feeds. The innovation partners in the program include Firework, Snap, Roku, TikTok, and TalkShopLive. The new offering will allow touchpoints and channels to reach wherever customers are through the new ad format.

Over the next three to four years, PayNXT360 expects a lot more innovation, strategic collaborations, and mergers and acquisition deal in the space globally. With social commerce shopping expected to become more mainstream around the world, these players are projected to make further inroads in the sector from the short to medium-term perspective. This will lead to more investment in the space, driving innovation and growth of the industry in the long run.

To know more and gain a deeper understanding of the global social commerce market, click here.

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New age social commerce startups achieve high growth amid changing consumer behavior in India

In India, consumer behavior is undergoing a gradual change. Led by the global pandemic outbreak, consumption habits of Indian consumers are changing, with more consumers shopping online compared to the pre-pandemic period. Notably, innovation in the e-commerce space, led by the amalgamation of online shopping and social media, has driven the industry's growth in a significant manner over the last few years.

While social commerce is still an emerging sector in the country, the strong support from new generation consumers and the consistent shift to digital channels among adults are driving the growth momentum. The growing interest from consumers has resulted in social commerce startups attaining high growth in both, customer acquisition and sales volumes, thereby helping to establish new-age e-commerce models in India. For instance,

In August 2022, Shopsy, the social commerce platform owned by Flipkart, announced that the firm had crossed 100 million users. This is much ahead of its planned target of having 100 million users by the end of 2022. Notably, the growth in customer acquisition has been largely driven by the global pandemic outbreak, which accelerated the shift to e-commerce platforms in India. This shift has also resulted in more consumers shopping online at a higher frequency on the Shopsy platform.

Between February 2022 to July 2022, Shopsy recorded a growth of 2.2 times in its sales volumes and customer base, respectively. More than 68% of its users come from Tier II and Tier III cities in India. Moreover, half of its customers are first-time e-commerce shoppers. With its growing traction among new generation online shoppers, PayNXT360 expects Shopsy to keep continuing its growth momentum further in H2 2022, as consumer sentiment remains good for the upcoming Indian festive season.

Some of the leading categories where consumers are increasingly making purchases on Shopsy include home products, electronics accessories, and general merchandise, among others. With over 250,000 sellers on the platform, the firm offers 150 million products to its users across 800 categories.

Along with Shopsy, many other startups in the space have recorded strong growth in 2021 and have continued their growth momentum in H1 2022. For instance,

Meesho, the SoftBank-backed social commerce startup, became the first e-commerce firm in India to reach 100 million transacting users in India in 2022. Notably, since March 2021, the transacting users for the firm have increased six times. Similar to Shopsy, Meesho claims that 50% of its users are first-time online shoppers in the country.

The fact that more and more first-time online shoppers prefer social commerce channels rather than traditional e-commerce platforms shows the growth potential for the industry over the next three to four years. Moreover, given the fact that there are only 200 million online shoppers in the country with a total population of 1.4 billion, online penetration is still relatively low. Consequently, the growth potential for players such as Meesho and Shopsy remains relatively high from the medium to long-term perspective.

Over the next three to four years, PayNXT360 expects consumers from Tier II and III cities to drive the growth momentum for these players. Notably, to tap into the huge Indian market, social commerce startups are adopting innovative customer acquisition strategies. For instance,

In August 2022, Meesho added eight more languages to its social commerce platform as it seeks to widen the reach of its services during the upcoming festival season in the country. Notably, Meesho users can now use Marathi, Telugu, Bengali, Tamil, Gujrati, Kannada, Malayalam, and Odia for accessing their accounts and product information, placing and tracking orders, and making payments.

The strategy of Meesho to localize its platform is projected to help the firm in gaining more traction among Tier III and IV cities of India from the short to medium-term perspective.

Notably, the high growth achieved by social commerce players in India over the last two years is also encouraging many traditional retailers to foray into the segment to expand their online presence and generate incremental revenue. For instance,

In June 2022, Bata, one of the leading footwear retailers in India, announced that the firm is foraying into the social commerce segment in its bid to reach out to more consumers and drive revenue.

Notably, the firm is planning to display its product on social media platforms such as Instagram and offer them a link to its e-commerce platform. Through its social commerce strategy, the firm is aiming to boost digital sales, which currently account for 15% of the total volume. The firm has previously experimented with the same social commerce strategy in the United States as well.

With the growing consumer interest in social commerce and the high growth achieved by new-age social commerce startups in India, PayNXT360 expects more brands and retailers to foray into the segment from the short to medium-term perspective. Moreover, as these startups continue to grow and drive incremental revenue, PayNXT360 also expects a strong inflow of global venture capital and private equity funds in the Indian social commerce industry over the next three to four years.

To know more and gain a deeper understanding of the social commerce market in India, click here.