Summary
- • 72% of consumers use social media to make purchasing decisions
- • Social commerce sales in the US are expected to reach $79.64 billion in 2025
- • Facebook is the leading social commerce platform, with 56.1 million buyers in 2021
- • 78% of consumers are willing to buy from a brand after having a positive experience with them on social media
- • Instagram's shopping features are used by 44% of users to shop weekly
- • 71% of small businesses use social media to market themselves
- • Social commerce sales are projected to grow by 34.8% in 2021
- • 30% of online shoppers say they would be likely to make a purchase from a social media network
- • Pinterest drives 33% more traffic to shopping sites than Facebook
- • 87% of e-commerce shoppers believe social media helps them make shopping decisions
- • TikTok's social commerce gross merchandise volume is expected to grow 553% in 2022
- • 60% of Instagram users discover new products on the platform
- • Social commerce sales in China reached $351.65 billion in 2021
- • 48% of consumers have purchased products directly through social media
- • 90% of people buy from brands they follow on social media
Move aside traditional shopping, social commerce is here to slay! Did you know that 72% of consumers turn to social media to fuel their buying decisions? With the US social commerce market set to soar to a whopping $79.64 billion by 2025, its clear that platforms like Facebook, where 56.1 million buyers swiped their virtual credit cards in 2021, are the new shopping malls of the future. From Instagrams addictive shopping features to the explosive growth of TikToks social commerce volume, this eye-opening blog post unveils the juicy stats behind this digital shopping revolution. So, get ready to retweet, reshare, and rejoice in the power of social media shopping!
Business Adoption
- 71% of small businesses use social media to market themselves
- Facebook Shops are used by over 1 million monthly active businesses
- 80% of businesses plan to use social media for customer service in the next three years
- 40% of merchants use social media to generate sales
- 84% of C-suite executives believe social commerce is a key growth area for their business
- 73% of businesses are currently using or planning to use social commerce
- 92% of marketers believe that social media is important for their business
Interpretation
In the wild world of social commerce, statistics paint a vibrant picture of small businesses and corporate bigwigs alike diving headfirst into the digital arena. From the savvy soup-seller to the suave CEO, everyone seems to be riding the social media wave with confidence and gusto. With more businesses embracing Facebook Shops and setting up their virtual storefronts, it's clear that social media is not just a place for hashtags and memes, but a powerful marketplace for generating sales and engaging with customers. As businesses gear up to provide customer service through digital platforms and top executives place their bets on social commerce for future growth, it's hard to ignore the 92% of marketers who are firm believers in the importance of social media for business success. It seems the digital grapevine is buzzing, and those who dare to stay silent might just find themselves missing out on a trendy slice of the market pie.
Consumer Behavior
- 72% of consumers use social media to make purchasing decisions
- 78% of consumers are willing to buy from a brand after having a positive experience with them on social media
- 30% of online shoppers say they would be likely to make a purchase from a social media network
- 87% of e-commerce shoppers believe social media helps them make shopping decisions
- 60% of Instagram users discover new products on the platform
- 48% of consumers have purchased products directly through social media
- 90% of people buy from brands they follow on social media
- 55% of Gen Z have purchased products through social media
- 81% of shoppers research products on Instagram and Facebook
- 43% of consumers are more likely to buy a product after watching a video about it on social media
- 70% of shopping enthusiasts turn to Instagram for product discovery
- 49% of consumers have purchased a product after seeing it advertised on social media
- 74% of consumers rely on social media to guide their purchase decisions
- 59% of global consumers use social media as a source of shopping inspiration
- 76% of consumers have purchased a product they saw in a brand's social media post
- 50% of millennials prefer to research products on social media before making a purchase
- 62% of consumers say they are more likely to purchase from a brand that has positive customer reviews on social media
- 54% of social media users research products on social platforms
- 87% of consumers say influencers have inspired them to make a purchase
- 71% of consumers who have had a positive experience with a brand on social media are likely to recommend it to others
- 45% of digital buyers worldwide say that reading reviews, comments, and feedback on social media influences their shopping behavior
- 66% of consumers have been inspired to purchase from new brands because of social media
- 30% of consumers say they would make purchases directly through social media platforms
- 55% of Gen Z and 62% of millennials say social media influences their fashion and beauty purchases
- 82% of consumers trust social networks to guide them to new products and services
- 58% of consumers follow brands on social media to browse products for purchase
- 77% of consumers are more likely to buy from a brand they follow on social media
- 35% of US consumers have made a purchase through social media
Interpretation
In a world where social media reigns supreme, these statistics paint a vivid portrait of the modern consumer landscape: a swirling vortex of purchasing decisions, brand loyalty, and shopping inspirations. From the allure of Instagram product discoveries to the persuasive power of influencer endorsements, it is clear that social commerce has woven itself into the very fabric of our shopping experiences. With consumers swayed by positive interactions, glowing reviews, and the siren call of direct purchasing options, brands find themselves navigating a landscape where trust is currency, inspiration is abundant, and the potential for influence is boundless. As the online marketplace continues to evolve, one thing remains certain: in the realm of social commerce, the world is both the stage and the storefront, where every click, like, and share holds the promise of a transaction waiting to happen.
Market Growth
- Social commerce sales in the US are expected to reach $79.64 billion in 2025
- Social commerce sales are projected to grow by 34.8% in 2021
- Social commerce sales in China reached $351.65 billion in 2021
- Live-streaming e-commerce is expected to generate $500 billion in sales in China by 2023
- Social commerce in Southeast Asia is projected to reach $42 billion by 2025
- Social commerce sales are expected to account for 17% of all e-commerce sales in China by 2023
- Social commerce sales in the US grew by 38.9% in 2020
- Social commerce sales are projected to reach $604.5 billion globally by 2027
- Social commerce sales in India are expected to reach $51.2 billion by 2025
- Social commerce sales in Europe are expected to reach €67.7 billion by 2025
- Social commerce sales in Southeast Asia grew by 44% in 2020
- Social commerce sales in Latin America are expected to reach $17.9 billion by 2024
- Social commerce sales in Australia are projected to reach $4.6 billion by 2025
- Social commerce sales in Japan are expected to reach $24.5 billion by 2024
- Social commerce sales in South Korea are expected to reach $32.8 billion by 2024
- Social commerce sales in Canada are projected to reach $5.2 billion by 2025
Interpretation
As social commerce continues its meteoric rise, it seems like the good ol' chat and shop days are back in vogue, with sales figures providing more drama than a reality TV show. With numbers that could make even the most seasoned economists do a double-take, the stage is set for a fierce battle of the hashtags and buy buttons. From the bustling markets of China to the stylish boulevards of Europe, social commerce is strutting its stuff and claiming its throne in the e-commerce kingdom. So, grab your phone, snap a selfie, and get ready to shop – because in this digital age, the socialites are ruling the retail world one click at a time.
Platform Performance
- Facebook is the leading social commerce platform, with 56.1 million buyers in 2021
- Instagram's shopping features are used by 44% of users to shop weekly
- Pinterest drives 33% more traffic to shopping sites than Facebook
- TikTok's social commerce gross merchandise volume is expected to grow 553% in 2022
- Pinterest users are 7x more likely to say the platform is the most influential in their purchase journey
- Instagram Shopping is used by 44% of people to shop weekly
- 85% of orders from social media sites come from Facebook
- TikTok's in-app shopping features are used by 28% of its users
- Pinterest's social commerce sales are projected to reach $9.89 billion in 2024
- Instagram's social commerce sales are projected to reach $33.17 billion in 2024
- Social commerce sales on WeChat reached $250 billion in 2020
- Facebook Marketplace has over 1 billion monthly active users
- TikTok's social commerce sales in the US are projected to reach $14.5 billion by 2024
Interpretation
In the chaotic world of social commerce, where likes can turn into purchases and hashtags wield the power of persuasion, the numbers don't lie: Facebook reigns supreme with a shopper army of 56.1 million strong, while Instagram struts its stuff with a cool 44% of users strutting their shopping stuff weekly. Pinterest, the silent assassin of the shopping world, slyly drives 33% more traffic to shopping sites than the almighty Facebook. Meanwhile, TikTok is gearing up for a shopping spree bonanza in 2022, with its social commerce GMV expected to skyrocket by a mind-boggling 553%. So, as we navigate this digital marketplace minefield, remember: be savvy, be bold, and never underestimate the power of a well-placed shopping cart emoji.
