Social Commerce has been up-and-coming since the start of social media. Channels like Facebook, Instagram, Pinterest, and WhatsApp have already adopted shopping and payment functions that allow people to buy products or services directly on the platforms. Want to know more about this evolving market?
We’ve compiled some important social commerce stats to help you understand this market in 2022 and beyond.
Let’s take a look at the general stats below.
Social Commerce Stats Highlights
- 60% of People Say They Discover New Products on Instagram.
- In the U.S., social commerce saw $46.4 billion in sales in 2020.
- With 56 million buyers, Facebook ranks as the top social commerce platform in the U.S.
- Social commerce sales in 2020 have been valued at an estimated $560 billion.
- Video shopping has the biggest social commerce market share, around 42%.
On This Page
- 1 Social Commerce – Key Stats
- 1.1 Instagram is the place where 60% of people discover new products.
- 1.2 In the U.S., social commerce saw $46.4 billion in sales in 2020.
- 1.3 The United States has the second largest social eCommerce adoption rate, at 36% of internet users.
- 1.4 With 56 million buyers, Facebook ranks as the top social commerce platform in the U.S.
- 1.5 Global social commerce sales in 2020 have been valued at an estimated $560 billion.
- 1.6 Social commerce sales are expected to triple by 2025.
- 1.7 Video shopping has the biggest social commerce market share, around 42%.
- 2 Additional Social Commerce Stats
- 3 Wrapping Up
Social Commerce – Key Stats
Now let’s dive into the stats a bit deeper.
Instagram is the place where 60% of people discover new products.
(Influencermarketinghub)
Selling goods and services via social networking such as Instagram or Facebook is a go-to strategy for growing the business online right now. An Instagram user survey discovered that 60% of people find new products and services on their channels and want to buy something right away if it’s visually appealing. So, creating a visually attractive social storefront on Instagram or Facebook is one of the first steps one should take to optimize their social commerce strategy.
(Influencermarketinghub)
Social commerce penetration is growing each year, and it is particularly strong in the U.S. As of 2020, social commerce accounted for $46.4 billion in sales in the U.S.; the number is expected to reach $79.6 billion by 2025. With 8 out of 10 U.S. businesses planning on using social media platforms to sell their products, it’s no surprise that social media is becoming the new billboard of brands.
(elatestnews)
Social media platforms are making a strong push toward social commerce. Social media content creates opportunities for people to discover and buy products. 36% of internet users in the United States are expected to make at least one purchase through social media. Brands should take advantage of every platform available, such as Facebook Marketplace.
(blog.Hubspot)
Facebook’s massive scale drives it to the top of the list brands look to when deciding where to market. In 2020, Facebook launched Facebook Shops, a mobile platform where businesses can create online stores for free to help small- and medium-sized businesses (SMBs) bring their storefronts online amid the pandemic. As of now, Facebook is the top social commerce platform in the U.S., boasting 56 million buyers in 2021.
(Statista)
Across the globe, the term social commerce is gaining resonance. Online purchases through this channel will become even more popular in the coming years. With more and more people relying on social media platforms and valuing convenience above all, selling via social apps is the logical next step for every brand looking to stay afloat in today’s tough market.
Social commerce sales are expected to triple by 2025.
(Statista)
The attribute of promoting and selling products through social media channels, which keeps the customers hooked to the brand, is a significant game-changer in 2022. Around 36% of all internet users in the United States complete purchases through social media, compared to 50% of users in China. With social media becoming a prominent source of retail marketing, the continuation of commercial opportunities within the platform will continue to spike and is expected to triple by 2025.
(GlobeNewswire)
Video commerce is when companies engage with their audience using video to showcase their products. It has become one of the most commonly practiced product marketing methods.Vdeo posts get 48% more views than photographic posts, and YouTube is a highly used platform by brands to market their products and services. By Platform / Sales Channel, video commerce accounted for the highest social commerce market share at nearly 42%.
Additional Social Commerce Stats
- Chinese retail and social commerce sales will reach $351.65 billion in 2021.
- The number of U.S. social commerce buyers grew to 80.1 million in 2020 and is anticipated to increase to 96.1 million in 2022.
- 30% of eCommerce companies are already selling on social media, and 12% plan on selling through social media platforms.
- 49% of brands plan to invest more in social commerce in 2022.
- According to online purchase statistics, 87% of online shoppers use social media while making shopping decisions.
- One in three users will purchase on Facebook in 2022.
Wrapping Up
Social Commerce is indeed a heavy name in the eCommerce industry in 2022. As you can see from the above stats, it’s a universal market trend that will only grow. It’s still new for many brands and consumers but already brings impressive results. It opens up new ways to sell and collaborate with influencers, boosts conversions, and expands brand awareness. As a result, social commerce creates an incredible shopping experience and attracts new customers to the places that matter.
That’s all for today.
Sources
https://blog.hubspot.com/marketing/social-commerce-stats
https://www.statista.com/statistics/1251145/social-commerce-sales-worldwide/
https://www.globenewswire.com/en/news-release/2022/07/04/2473370/0/en/
