In the context of social commerce, this refers to brands selling and promoting their products on social media platforms such as Facebook and Instagram. The social commerce market was valued at $559.7 billion in 2020 and is now expected to grow to $2.9 trillion by 2026, according to new estimates. Brands and merchants can expect social media sales to outpace sales made directly on their own websites several times. China, the United States and Europe are the top social commerce markets, followed by China, Japan, Germany and the rest of Asia. As a result of the influencers and celebrities who endorse products on social media, brands can be discovered.
Insider Monkey selected the 10 best social commerce stocks to buy. Technology and media products and services are offered by Chinese multinational conglomerate Tencent Holdings Limited. In addition to instant messaging, digital payments, and social networking, Tencent Holdings’ WeChat is a multipurpose application. Announcing its third-quarter financial results on October 28, Eventbrite, Inc. disclosed its financial position. A 144% increase in revenue resulted in a $53.37 million shortfall from forecasts. As of September 2021, Portsea Asset Management is the largest stakeholder in the company. Groupon, Inc. had 18 hedge funds following it in the third quarter of 2021, down from 28 funds in the previous quarter. By far the largest Groupon stakeholder is PAR Capital Management, which increased its stake in the company by a massive 104%. For NetEase, sales rose 22.40% year-over-year in the third quarter, beating forecasts by $145.33 million. Users of Pinterest, Inc. can post images, GIFs, and videos on its website. The company’s third-quarter earnings beat estimates by $0.28, generating $1.83 million more revenue than expected. For more details, click the 10 Best Social Commerce Stocks To Buy.
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