Social Commerce

Social Commerce Market Outlook

The global social commerce market is projected to reach approximately USD 1.2 trillion by 2035, expanding at a remarkable compound annual growth rate (CAGR) of around 28.4% during the forecast period. This surge in the market can be attributed to the increasing penetration of social media platforms and growing internet accessibility, which has transformed the way businesses engage with consumers. Additionally, the rise of mobile shopping and the integration of social commerce features within popular platforms such as Facebook, Instagram, and TikTok have greatly enhanced user experiences, making shopping more interactive and seamless. Consumers are increasingly seeking personalized shopping experiences that blend social interaction with e-commerce, driving brands to innovate in their marketing strategies. Furthermore, the changing dynamics of consumer behavior, bolstered by the pandemic, have accelerated the trend of online shopping via social networks, leading to a robust market growth outlook.

Growth Factor of the Market

One of the primary growth factors for the social commerce market is the shift in consumer behavior towards online shopping, accelerated significantly during the COVID-19 pandemic. This transition underscored the value of social media as not just a platform for interaction but also a robust marketplace where consumers can browse and purchase products. The integration of social proof, such as reviews and recommendations from friends and influencers on social platforms, has further driven engagement and consequently sales. Additionally, advancements in technology, such as augmented reality (AR) and artificial intelligence (AI), have enhanced user engagement by offering immersive shopping experiences. Companies are increasingly leveraging data analytics to understand consumer preferences, allowing for more targeted marketing strategies. The growing trend of influencer marketing has also played a pivotal role, with brands collaborating with popular figures to reach broader audiences and drive conversion rates.

Key Highlights of the Market

• Rapid expansion of social media platforms integrating e-commerce features.
• Increased consumer preference for mobile shopping experiences.
• Growing influence of social proof and user-generated content on purchasing decisions.
• Adoption of advanced technologies like AR and AI in enhancing shopping experiences.
• Significant investments in influencer marketing strategies by brands.

By Product Type

Physical Goods:

The segment of physical goods in the social commerce market encompasses a wide range of products, including apparel, electronics, beauty products, and home goods. This category has witnessed substantial growth as brands capitalize on the visual nature of social media to showcase their products. Social media allows businesses to present physical goods in a more engaging and interactive manner, facilitating impulse buying. In addition, the combination of attractive visuals and user-generated content drives consumer trust and enhances brand reputation. As physical goods become increasingly available through social platforms, the convenience of direct purchasing links encourages users to engage with brands more frequently, leading to increased sales volume and market share.

Digital Products:

Digital products, including e-books, software, online courses, and music, have also gained traction within the social commerce realm. As consumers seek instant access and convenience, the ability to purchase digital products directly through social media platforms is becoming increasingly appealing. This segment has expanded significantly due to the growing demand for online learning and entertainment services, especially during the pandemic. Additionally, social media platforms are optimizing their infrastructures to support seamless transactions for digital goods, which further bolsters consumer confidence and encourages purchases. The ease of sharing digital products through social networks also encourages word-of-mouth marketing, amplifying their reach.

Services:

The services segment of the social commerce market is rapidly evolving, encompassing a variety of sectors such as beauty services, fitness training, and travel experiences. Influencer collaborations and targeted advertisements have made it easier for service providers to reach their desired demographics. The social commerce model enables service providers to showcase their offerings through engaging content and customer testimonials, creating a compelling narrative that can influence potential clients. Additionally, the shift toward experiential consumption, especially among younger demographics, has prompted businesses to adapt their services to meet new consumer demands. As a result, the integration of service offerings within social platforms is expected to grow, reflecting changing consumer preferences.

Subscriptions:

Subscription models are becoming increasingly popular, particularly in sectors such as beauty, food, and lifestyle products. This segment allows consumers to receive curated selections of products delivered to their doorstep regularly, making it a convenient option for busy individuals. Social commerce platforms are effectively leveraging user-generated content and reviews to build trust in subscription services, making them more appealing to potential customers. The ability to share experiences and recommendations about subscription boxes on social media fosters community engagement, which can lead to increased customer acquisition. As brands explore innovative subscription offerings and flexible payment options, this segment is projected to continue its upward trajectory in the social commerce landscape.

Travel and Experiences:

Travel and experiences have transitioned into the social commerce domain, particularly as consumers seek unique and memorable adventures. Social platforms facilitate the sharing of travel photos and experiences, which can inspire others to explore new destinations. Influencer marketing plays a crucial role in this segment, as these personalities often share their travel journeys, prompting followers to purchase travel packages. The rise of experiential travel, where consumers prioritize unique experiences over material possessions, further fuels this segment's growth. Businesses in this space are increasingly utilizing social media to provide special offers, insider tips, and personalized travel experiences, creating an effective blend of social interaction and commerce.

By Platform

Social Media Platforms:

Social media platforms represent a significant segment of the social commerce market, as they facilitate direct interaction between brands and consumers. Platforms like Instagram, Facebook, and TikTok have integrated shopping features that allow users to discover and purchase products seamlessly. The visually driven nature of social media enables businesses to showcase their offerings creatively, often utilizing influencer partnerships to enhance engagement. The ability to share and recommend products among friends amplifies brand visibility and trust, which is crucial for conversion. Moreover, the continuous evolution of social media algorithms enables brands to target specific audiences effectively, thereby optimizing their marketing strategies for better sales outcomes.

E-Commerce Platforms:

E-commerce platforms have also emerged as vital players in the social commerce market, often incorporating social features to enhance the shopping experience. These platforms provide a comprehensive ecosystem where businesses can list their products while offering customers community engagement through reviews and recommendations. The integration of social elements, such as sharing options and customer testimonials, encourages user interaction and fosters a sense of community among shoppers. As consumers increasingly seek out e-commerce platforms that provide not only shopping convenience but also social interaction, brands are adapting their strategies to cater to this growing demand. This shift allows for dynamic marketing opportunities that leverage the strengths of both e-commerce and social engagement.

Messaging Apps:

Messaging apps have gained prominence as a channel for social commerce, offering direct communication between brands and consumers. Platforms like WhatsApp and Messenger facilitate personalized interactions, allowing businesses to address customer inquiries and promote products effectively. The rise of chatbots and automated messaging systems further enhances the shopping experience by providing instant assistance to users. This direct engagement helps build trust and loyalty, as consumers feel more connected to the brands they interact with. Messaging apps also provide a unique opportunity for brands to share exclusive offers and promotions, encouraging immediate purchases while fostering ongoing relationships with customers.

Live Streaming Platforms:

Live streaming platforms have revolutionized the way consumers discover and purchase products, offering real-time interaction and engagement. Brands and influencers can showcase products through live demonstrations, allowing viewers to ask questions and receive immediate feedback. This interactive format creates a sense of urgency and community around products, often leading to increased sales during live streaming events. The popularity of live commerce has surged as consumers seek authentic and immersive shopping experiences, making this platform a vital component of the social commerce landscape. As brands continue to innovate in the live streaming space, the potential for driving sales and engagement will only grow.

Others:

Beyond the primary platforms, other avenues for social commerce, such as blogs, forums, and third-party collaboration sites, contribute to the overall market landscape. These platforms often host discussions and reviews, allowing users to share their experiences and recommendations about various products. As consumers increasingly rely on community feedback and peer reviews before making purchasing decisions, the role of these alternative platforms becomes increasingly crucial. Brands are beginning to engage with these channels to create brand awareness and foster trust among potential customers. By leveraging diverse platforms, businesses can maximize their reach and connect with different audience segments, further enhancing their social commerce strategies.

By User

Millennials:

Millennials represent a significant portion of the social commerce market, driven by their extensive use of social media and preference for online shopping. This demographic values convenience and efficiency, often using social platforms to discover and engage with brands that align with their interests. The ability to easily share experiences and recommendations within their network amplifies their purchasing decisions. Brands targeting millennials are increasingly using influencer marketing and immersive content strategies to appeal to their preferences, offering personalized experiences that resonate with this audience. As this generation continues to embrace digital shopping, their influence on shaping the social commerce landscape is expected to grow.

Gen Z:

Gen Z is a digitally native generation, making them a critical user segment in the social commerce market. Known for their preference for authenticity and social responsibility, brands must align their values with those of Gen Z consumers to capture their attention. This demographic actively engages with social media content, often utilizing platforms like TikTok and Instagram to discover new products. User-generated content and peer recommendations play a pivotal role in their purchasing decisions, making social proof invaluable. As brands leverage innovative marketing strategies tailored to Gen Z, their influence on the social commerce landscape is expected to continue growing exponentially.

Gen X:

Gen X consumers are increasingly participating in social commerce, driven by their growing comfort with digital technology and online shopping. As this demographic ages, their purchasing power and influence continue to rise, prompting brands to engage with them through targeted strategies. Gen X values quality and reliability, often seeking brands that offer authenticity and trustworthiness. Social commerce provides an opportunity for companies to showcase their offerings in a manner that resonates with Gen X values, encouraging them to share their experiences with friends and family. As brands adapt their marketing approaches to cater to this audience, their role in the social commerce market will become increasingly significant.

Baby Boomers:

Baby Boomers represent a unique user segment within the social commerce market, as they gradually transition to online shopping in response to changing consumer trends. While traditionally less engaged with social media, this demographic is increasingly leveraging these platforms to discover products and connect with brands. Companies targeting Baby Boomers benefit from providing clear, concise information and user-friendly experiences that cater to their preferences. The increasing digital literacy among Baby Boomers presents opportunities for brands to tap into this market segment, emphasizing quality, value, and customer service. As their engagement with social commerce grows, Baby Boomers will play a vital role in shaping the future of the market.

By Payment Method

Credit/Debit Card:

Credit and debit cards remain the most prevalent payment method in the social commerce market, primarily due to their convenience and widespread acceptance. Consumers prefer using cards for online transactions, as they offer a quick and secure way to complete purchases. The integration of payment gateways within social media platforms further simplifies the checkout process, enhancing user experiences. With the growing emphasis on security and fraud prevention, many brands are adopting advanced encryption technologies to ensure consumer confidence when using card payments. As credit and debit card usage continues to dominate, businesses must focus on optimizing payment processes to cater to evolving consumer preferences.

Digital Wallets:

Digital wallets are gaining popularity as a preferred payment method in social commerce, allowing consumers to make transactions quickly and securely through mobile devices. The convenience of storing multiple payment options in one application encourages consumers to opt for digital wallets, particularly among younger demographics. As brands integrate digital wallet options into their social commerce platforms, they can streamline the checkout process and reduce cart abandonment rates. Additionally, the rise of contactless payments during the pandemic has spurred the adoption of digital wallets, making them an essential component of modern commerce strategies. As user confidence in digital wallets grows, their influence on social commerce transactions will continue to expand.

Bank Transfers:

Bank transfers provide a secure and traditional payment option for consumers engaged in social commerce, particularly in markets where credit cards and digital wallets are less prevalent. This method appeals to consumers who prioritize privacy and security during transactions. Although bank transfers often require longer processing times compared to digital payments, many users appreciate the added level of control over their finances. Social commerce platforms that accommodate bank transfers can tap into a broader customer base, especially in regions where this payment method is preferred. As more brands recognize the value of offering diverse payment options, bank transfers will likely remain a critical component of the social commerce landscape.

Cash on Delivery:

Cash on delivery (COD) remains a popular payment method, particularly in emerging markets where consumers may be wary of making online payments. This method allows customers to pay for products only upon receipt, providing an extra layer of security and trust. Brands that offer COD options can attract a wider audience, especially among consumers hesitant to share financial information online. However, COD also presents challenges, such as increased logistical complexities and potential return rates. As businesses continue to navigate the evolving landscape of social commerce, adapting to local payment preferences and consumer behaviors will be essential for success.

Others:

Other payment methods, such as cryptocurrencies and buy now, pay later (BNPL) options, are gradually gaining traction in the social commerce space. Cryptocurrencies offer a decentralized and secure payment alternative, appealing to tech-savvy consumers who prioritize anonymity and security. Meanwhile, BNPL services enable customers to make purchases while spreading the cost over time, making it an attractive option for budget-conscious shoppers. Brands that integrate these alternative payment methods into their social commerce platforms can attract a diverse range of consumers. As the landscape of payment options continues to evolve, businesses must remain agile and responsive to emerging trends to capture market share.

By Region

The social commerce market is experiencing significant growth across various regions, with North America leading the way due to its advanced digital infrastructure and high adoption of social media. The North American market is anticipated to reach approximately USD 450 billion by 2035, growing at a CAGR of 25.6%. This growth can be attributed to the increasing number of businesses leveraging social media platforms for direct selling, coupled with the integration of innovative marketing strategies. As consumers in North America become more comfortable with online shopping, businesses are investing heavily in enhancing their social commerce capabilities, further solidifying the region's dominance in the market.

The Asia Pacific region is also witnessing rapid expansion in the social commerce market, driven by the increasing smartphone penetration and digital literacy among consumers. The market in this region is projected to reach around USD 350 billion by 2035, fueled by the popularity of social media platforms and the growing trend of live streaming commerce. Additionally, countries like China and India are experiencing a surge in online shopping through social platforms, as businesses capitalize on the unique consumer behaviors and preferences in these markets. The vast population and rising disposable income in Asia Pacific present significant opportunities for brands looking to tap into the social commerce sector.

Opportunities

The social commerce landscape is ripe with opportunities as brands increasingly recognize the potential for engaging consumers through social platforms. One key area of opportunity lies in the continuous evolution of technology, enabling businesses to create immersive experiences using augmented reality and virtual reality. By leveraging these technologies, brands can create unique shopping experiences that captivate consumers and drive conversions. Additionally, the rise of micro and nano influencers presents a significant opportunity for brands to reach niche markets and build authentic connections with target audiences. As these influencers often have dedicated follower bases, collaborating with them can lead to higher engagement rates and a more genuine brand narrative.

Furthermore, as the demand for personalized shopping experiences continues to grow, brands have the opportunity to utilize data analytics to tailor their offerings to individual consumer preferences. By analyzing consumer behavior and engagement patterns, businesses can deliver targeted content and product recommendations, enhancing the shopping experience. Developing community-driven shopping experiences can also foster engagement and loyalty among consumers, as they feel a sense of belonging with brands that prioritize customer interactions. As social commerce continues to evolve, brands that harness these opportunities will be well-positioned to thrive in this dynamic market.

Threats

Despite the promising outlook for the social commerce market, several threats could hinder its growth trajectory. One significant challenge is the increasing competition among brands vying for consumer attention on social media platforms. As the number of brands engaging in social commerce rises, standing out in a crowded marketplace becomes increasingly difficult. This saturation can lead to heightened advertising costs, diminishing returns for businesses, and potential brand fatigue among consumers. Additionally, evolving consumer behavior and preferences can pose a threat, as brands must continuously adapt their strategies to meet changing demands. Failure to stay relevant in an ever-changing landscape could result in lost market share and diminished consumer loyalty.

Another notable threat to the social commerce market is the growing concern over data privacy and security. As consumers become more aware of their digital footprints, apprehension around sharing personal information on social media platforms is increasing. Brands that fail to prioritize consumer data security risk damaging their reputations and losing customer trust. Regulatory changes surrounding data privacy, such as GDPR and CCPA, may also impose additional compliance burdens on businesses, potentially stifling innovation and growth. To remain competitive, brands must proactively address these threats and implement robust security measures to safeguard consumer information while fostering trust and transparency.

Competitor Outlook

• Facebook, Inc.
• Instagram, Inc.
• Pinterest, Inc.
• Snap Inc.
• TikTok Inc.
• Alibaba Group Holding Limited
• Etsy, Inc.
• Shopify Inc.
• Walmart, Inc.
• Amazon.com, Inc.
• Square, Inc.
• Twitter, Inc.
• Snapchat, Inc.
• Meituan Dianping
• Weibo Corporation

The competitive landscape of the social commerce market is characterized by a diverse array of companies ranging from established social media giants to niche e-commerce platforms. Major players like Facebook and Instagram dominate the market, continually innovating to enhance their shopping features and keep users engaged. These platforms have successfully integrated shopping functionalities, enabling brands to reach their target audiences effectively. The competition is fierce, with these companies vying for advertising revenue while enhancing user experiences through personalized content and seamless transactions. As social commerce continues to evolve, the ability to adapt to changing consumer preferences will be crucial for maintaining a competitive edge.

Companies like Alibaba and Amazon are also significant competitors in this space, utilizing their vast e-commerce ecosystems to drive social commerce initiatives. Alibaba's Taobao platform has successfully integrated social features that allow users to share products and reviews, creating a unique shopping experience. Similarly, Amazon's focus on expanding its presence on social platforms reflects its commitment to capturing a larger share of the social commerce market. As these companies invest in technology and marketing strategies, their influence will continue to shape the social commerce landscape, driving innovation and competition.

Emerging companies and startups are also making their mark in the social commerce market, leveraging new technologies and innovative business models to attract consumers. Companies like Shopify have empowered small and medium-sized businesses to thrive in the social commerce space by providing user-friendly tools for building online stores and integrating with social media platforms. This democratization of commerce allows smaller players to compete effectively with established giants, fostering a sense of community among consumers and brands. As the market landscape continues to evolve, the competitive dynamics will shift, with emerging players driving new trends and innovations in social commerce.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 Snap Inc.
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 Etsy, Inc.
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 TikTok Inc.
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 Shopify Inc.
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 Square, Inc.
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 Twitter, Inc.
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 Walmart, Inc.
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 Facebook, Inc.
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 Snapchat, Inc.
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 Instagram, Inc.
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 Pinterest, Inc.
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 Amazon.com, Inc.
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 Meituan Dianping
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 Weibo Corporation
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis
  • 5.15 Alibaba Group Holding Limited
    • 5.15.1 Business Overview
    • 5.15.2 Products & Services
    • 5.15.3 Financials
    • 5.15.4 Recent Developments
    • 5.15.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 Social Commerce Market, By User
    • 6.1.1 Millennials
    • 6.1.2 Gen Z
    • 6.1.3 Gen X
    • 6.1.4 Baby Boomers
    • 6.1.5 Others
  • 6.2 Social Commerce Market, By Platform
    • 6.2.1 Social Media Platforms
    • 6.2.2 E-Commerce Platforms
    • 6.2.3 Messaging Apps
    • 6.2.4 Live Streaming Platforms
    • 6.2.5 Others
  • 6.3 Social Commerce Market, By Product Type
    • 6.3.1 Physical Goods
    • 6.3.2 Digital Products
    • 6.3.3 Services
    • 6.3.4 Subscriptions
    • 6.3.5 Travel and Experiences
  • 6.4 Social Commerce Market, By Payment Method
    • 6.4.1 Credit/Debit Card
    • 6.4.2 Digital Wallets
    • 6.4.3 Bank Transfers
    • 6.4.4 Cash on Delivery
    • 6.4.5 Others

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Asia Pacific - Market Analysis
    • 10.2.1 By Country
      • 10.2.1.1 India
      • 10.2.1.2 China
      • 10.2.1.3 Japan
      • 10.2.1.4 South Korea
  • 10.3 Latin America - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 Brazil
      • 10.3.1.2 Argentina
      • 10.3.1.3 Mexico
  • 10.4 North America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 USA
      • 10.4.1.2 Canada
  • 10.5 Social Commerce Market by Region
  • 10.6 Middle East & Africa - Market Analysis
    • 10.6.1 By Country
      • 10.6.1.1 Middle East
      • 10.6.1.2 Africa

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global Social Commerce market is categorized based on

By Product Type

• Physical Goods
• Digital Products
• Services
• Subscriptions
• Travel and Experiences

By Platform

• Social Media Platforms
• E-Commerce Platforms
• Messaging Apps
• Live Streaming Platforms
• Others

By User

• Millennials
• Gen Z
• Gen X
• Baby Boomers
• Others

By Payment Method

• Credit/Debit Card
• Digital Wallets
• Bank Transfers
• Cash on Delivery
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Players

• Facebook, Inc.
• Instagram, Inc.
• Pinterest, Inc.
• Snap Inc.
• TikTok Inc.
• Alibaba Group Holding Limited
• Etsy, Inc.
• Shopify Inc.
• Walmart, Inc.
• Amazon.com, Inc.
• Square, Inc.
• Twitter, Inc.
• Snapchat, Inc.
• Meituan Dianping
• Weibo Corporation