Social commerce is a subsection of the overarching ecommerce industry.
The purpose of social commerce is to create a personalized consumer shopping experience directly on social media platforms.
According to statistics, this subset of ecommerce is set to grow substantially.
There are often external links on social channels that direct you to a product or service page with the option to make a purchase.
The evolution of making buying decisions and purchases via social media platforms was prompted by Gen Z and its use of mobile devices and social media apps.
It tends to be most popular in Russia and China, though it’s a growing sector in America.
It’s projected that by 2025, social commerce will become a $79.64 billion industry in America.
The following social commerce statistics for 2023 will discuss the factors of social commerce that you need to know as a consumer and as a brand, business, or social media content creator.
Key Social Commerce Statistics 2023
- The pandemic in 2020 prompted high records of online shopping growth.
- There are over 90 million social buyers from America alone.
- Over half of Generation Z social media users, 55% claim that they have bought something via social media.
- In 2021, retail social commerce sales in Asia and China came to $351.65 billion.
- United States retail commerce sales came to $36.62 billion, according to 2021 statistics.
- Shoppable posts are the latest thing you will see on social media platforms like TikTok and Instagram.
- At the global level, social commerce accounted for $492 billion in revenue in 2020.
- Statistics show that 43% of those between 55 and 64 years old claim they have never bought anything online.
- Facebook is first when it comes to the number of buyers, according to statistics.
- Social commerce is expected to reach over $3.3 billion in sales by 2028.
Detailed Social Commerce Statistics 2023
Social media networks are no longer just for sharing memes and chatting with friends and family.
Social media platforms have evolved and changed the way we interact not only with people, but with brands and companies.
Ecommerce is nothing new, it’s been around for years, but today’s businesses are standing up and making changes in their social media marketing strategies to accommodate social media users with ways to make purchases right from their social media accounts.
If you have a business or you are trying to boost brand awareness, you cannot neglect social media and social commerce.
These social commerce stats will give you data you need to create better social media marketing strategies for social commerce.
1. The Pandemic in 2020 Prompted High Records of Online Shopping Growth.
Almost everything digital and online reached higher usage rates over the past couple of years due to the lockdowns, working from home, and homeschooling during the pandemic. It’s only natural that shopping online would also grow.
2. There Are Over 90 Million Social Buyers from America Alone.
You read that right. 90 million people buy from social media in America alone.
Considering that social commerce is more popular in China and Russia, it makes you wonder just how much more popular.
Users & Demographics
Millennials and Baby Boomers had a huge impact on social media since its inception, but Gen Z’s contribution has resulted in changing how we all interact with trends and brands.
User’s perceptions have changed.
Traditional ecommerce handles the needs of consumers, but social commerce takes that step further.
The new generationGen Z, and some people of the former generations, Millennials and Baby Boomers, are making buying decisions through social media outlets.
These statistics will discuss how social media has impacted today’s world.
Social commerce strategies are created with younger target demographics with Millennials and Baby Boomers coming on board.
Social commerce has boosted the popularity of user-generated content with some creators making a living from their content.
3. A Survey from 2021 Revealed that 35% of American Respondents Said They Make Purchasing Decisions Based on Social Media Ads.
Social media is especially playing its role in influencing shopping decisions on nearly all social networks.
This is especially true for Gen Z, but Millennials and Baby Boomers are in on it as well.
4. Men Buy Online More than Women, According to A Study that Reported that 84.3% of Men Engage in Online Purchases versus Women at 77%.
Social commerce user statistics reveal that the number of active female users is higher than male users, but that the average shopper online is mostly male. 84.3% of men shop online compared to 77% of women.
On average, women buy around 7.1 times a year and men about 5.4 times per year. Women also spend more money than men through online shopping.
Additionally, men are prone to buy something when they need it, while women will do that and when it’s something they want to try.
5. 43% of Those Between 55 and 64 Years Old Say They Have Never Bought Anything Online.
6. Over Half of Generation Z Social Media Users, 55% Claim that They Have Bought Something via Social Media.
Gen Z-ers were essentially born with technology in their hands, so social commerce is natural to them.
They are influenced by social media advertising more than Millennials and Baby Boomers, though these former generations are catching up somewhat.
Gen Z is the generation most contributing to social commerce and the changes in how people market on social media.
As this generation increases its buying power, it’s likely to become more popular.
7. The Number of Social Commerce Buyers Is Estimated to Increase from 79 Million to 108 Million in About Three Years.
This stat is driven mostly by Generation Z as this generation begins to enter and account for more of the workforce.
It could also be driven by more Millennials getting in on the game as well as Baby Boomers.
Keep in mind that Generation Alpha is up and coming in the next several years. Imagine what they will influence in the future.
Statistics by Regions
8. In 2021, Retail Social Commerce Sales in Asia and China Came to $351.65 Billion.
Currently, China is considered the biggest social commerce market on the globe with its $361.65 billion in revenue sales in 2021.
In the United States, that amount will be around a tenth of China’s figures with $36.62 billion.
It’s worth noting that $36.62 billion is actually up by 35.8% from the 2020 US figures.
9. In China, 51.5% of People Have Made Purchases Through Social Media.
This statistic tells us that more than half of people in China have purchased something via social media at least once.
This is one of those things that ranks China as number one in social commerce sales.
10. In Russia, 49.5% of Social Media Users Have Researched and Made Purchasing Decisions on Social Media Platforms.
Social media users in Russia are choosing what to buy through research they perform on social media.
Therefore, almost half of this population is using social media to discover and to learn more about products and services.
11. Social Commerce Statistics in America Show that Social Commerce Sales Increased to $36.62 Billion in 2021.
This increase in American social commerce for 2021 is likely to continue into 2022 and beyond.
As mentioned earlier, Generation Z is soon to be more represented in the workforce and will have more buying power. That alone will drive more sales.
Also, Baby Boomers and Millennials will use social commerce more as its expansion in presence occurs.
The more social commerce products and services are introduced on social media, the more attention it will get, resulting in higher sales numbers.
Influencers and Sales
12. Live Streams Influence 70% of Social Media Users in Buying Decisions.
Live streaming statistics show that this kind of video is wildly popular, especially among Gen Z.
That said, it makes sense that live streaming videos would drive social commerce buying decisions.
Short-form videos with product reviews and information are the ones driving engagement and sale on social media.
Some examples of content that drives social selling include Instagram Stories, Instagram Reels, TikTok videos, Facebook Live, Pinterest videos, and other live streaming and quick videos.
13. 88% of Professionals and Marketers Are Considering Influencer Marketing to Boost Engagement and Revenue.
To keep up with the times, more businesses and brands are utilizing social commerce to boost engagement and sales.
If your business or brand hasn’t created a strategy for social selling, it’s time to get started.
14. Shoppable Posts Are the Latest Thing You Will See on Social Media Platforms Like Tik Tok and Instagram.
Shoppable posts boost engagement and sales. These posts showcase your products, inform and empower your audience, and boost your online sales.
Social media platforms that support shoppable posts include Instagram, Facebook, and TikTok.
These kinds of posts allow you to use a shoppable link where you can direct potential customers to your website, shop, or product or service.
They are a very effective method of boosting sales.
15. According to Statistics, Video Games and Accessories Account for About 44% of All Social Media Commerce Sales.
Toys and hobbies came in second with 29% of all social commerce sales.
Next is accessories, watches, and jewelry in third and fourth place with the respective total share of sales between 25% and 26%.
Consumer electronics, digital books, and other goods account for the rest of all social commerce sales.
Statistics on Purchases
16. About 11% of Social Media Users Make Immediate Purchases and 44% Do More Research Before Making Purchasing Decisions.
Social media buying practices have proven to be a steady and reliable method of getting sales.
Even though 44% wait to make purchases, they often perform research on products and services on social media platforms.
As a result, not every sale on social media is immediate like it is on shopping websites.
This is due to the gap between discovering products and services and deciding to buy.
17. The Most Purchases Are Made Through Facebook Shops, IGTV, Streaming, and Stories.
Users depend on social streaming content where the content creator shows products and speaks confidently about the products they are promoting.
Instagram Reels are short-form videos that are reliable and often used for product discovery.
When the “buy” button is used on Instagram Stories, the chances of making a purchase are increased by 13%.
Social Commerce Vs Ecommerce Statistics
The ecommerce market has been around for several years, so companies are familiar with that and now are adapting to getting increased sales from social media.
18. This Year, in 2022, the Estimated Amount for Sales in Retail Ecommerce Should Reach $4.3 Trillion.
According to the data, social media will play a major role in the increase in this overall industry.
19. Ecommerce Still Seems to Be More Popular in America than Social Commerce Because of Worries Over Security.
Privacy and security online are things everyone should pay attention to, but among Americans, it’s imperative.
People are cautious about where they buy online due security concerns.
However, this ideal is constantly evolving. Social commerce is expected to grow and become more secure so that people will be more comfortable with it.
Let’s face it, ecommerce is standardized more than social commerce. That said, together the two ideals complement each other.
Revenue is one of the main goals of every company as it’s always been. Social commerce is no different.
People not only gauge their success based on engagement statistics, but also social commerce statistics in revenue.
20. At The Global Level, Social Commerce Accounted for $492 Billion in Revenue in 2020.
If you think that figure is large, it’s expected to grow to $3.37 trillion by 2028. Also, according to 2021 statistics, revenues increased by $560 billion in revenue.
Social commerce is expected to achieve high growth numbers in the coming years as statistics show that it’s growing three times faster than traditional ecommerce.
The Most Popular Platforms
As you might expect, some social media sites are better for ecommerce than others.
While that will likely change as this grows, right now, the following social media platforms are the most popular for social commerce.
21. Pinterest Is the Top Social Commerce Platform.
Pinterest focuses on users that buy more often and spend the most money on products and services.
Pinterest is also mainly driven by the female demographic, though men are joining the crowd.
22. Facebook Is First when It Comes to The Number of Buyers.
Pinterest may be tops for its focus, but Facebook has the highest number of buyers at 56.1 billion.
The difference is that Facebook buyers don’t buy as often or spend as much as Pinterest users.
23. Instagram Is Growing and Coming up In This Market.
Thanks to social commerce features provided on Instagram now, this kind of shopping is starting a buzz.
It makes you wonder how long it will be until Instagram moves to the top spot.
24. Twitter and You Tube Didn’t Make the List.
YouTube and Twitter didn’t even rank for social commerce this year.
This is mostly because users on YouTube and Twitter use these social platforms to do their research about products and services, not necessarily buy from them.
Remember these statistics as this subset of ecommerce grows and evolves. Things might surprise us all.
It won’t surprise you to know that social commerce is not fading away any time soon. If anything, it will grow and become one of the safest and most used ecommerce options in the coming years.
The statistics we have shared should prove that.
25. Social Commerce Is Expected to Reach Over $3.3 Billion in Sales by 2028.
Hopefully, you didn’t skip over the statistics about how social commerce is expected to reach over $3.3 billion in sales by 2028.
We did mention this in another section, but it’s worth repeating.
Clearly, social commerce is growing in popularity across social channels. No matter who’s on top now, those stats may change and fluctuate over the years.
26. $56 Billion Is the Amount of Money Expected to Be Spent by Advertisers in 2022.
Promoting products and services can be done for free, but most people who want to succeed end up spending money to stay on top in their industry.
27. 73% of Them Plan to Sell Their Goods or Services Directly from Social Media Between 2022 and 2023.
These social venues can make social buying so much faster and easier for everyone.
Also, people can share their purchases if they so choose, further promoting a brand or business.
Social commerce stats have told us that social commerce is growing at lightning speed, making this kind of shopping more appealing to not only Gen Z and Millennials, but also Baby Boomers, and the coming Generation Alpha.
Which Social Media Platform Generated the Most Revenue?
Facebook Shops came in on top with more than 250 million users.
The Facebook platform currently drives the most sales revenue globally.
Do Messaging Apps Make a Difference in Social Commerce?
You won’t see a lot of messaging options in traditional ecommerce, but some bigger companies use it.
Conversely, the statistics show that social buyers desire a personal experience, so it’s likely that messaging apps and bots will be useful.
Which Social Media Is the Most Profitable Across the World?
Facebook is the unsurprising answer to this question.
It is still home to more users than other social media platforms.
Also, in terms of sales volume no other platform is beating Facebook right now.
What Is the Average Amount of Time Spent per Day on Social Media?
This number does matter when it comes to social commerce.
The amount of time people spend on social networks has a huge impact on purchasing decisions.
The 2021 social commerce statistics show that the average social media user spent 145 minutes a day social networking.
We imagine that number has changed a bit over the past couple of years.
What Platforms Do Social Media Users Spend the Most Time Using?
Studies have shown that most social media users spend the most time on Facebook, which accounts for about 58 minutes on average per day.
Instagram is second with an average of 53 minutes a day and YouTube comes in third with 40 minutes per day.
It’s likely that these numbers will change in the coming years and will include TikTok, Whatsapp, Snapchat, and other social sites.
Will Businesses Sell More on Social Platforms Going Forward
It’s estimated that 71% of small businesses plan to use social commerce by 2023.
So, businesses will sell more on social media than they do now.
How Many American Executives Are Planning to Include Social Media Commerce as Part of Their Ecommerce Strategy?
You can expect about 93% of American executives to move or include social media commerce along with their ecommerce efforts.
What Is Expected of Social Commerce in The Coming Years?
By 2025, it’s expected that more than 5% of the total ecommerce sales will come from social commerce. .
If there was any doubt in your mind that social commerce would change the face of ecommerce in the coming years then these social media ecommerce statistics for 2023 should remove any doubt.
As a marketer, you should know how to make adjustments to your ecommerce marketing strategies to drive more sales.
Likewise, as a business or brand, you should be keeping your strategies updated to follow trends that will boost your revenue.
As the average user, you now know that you will see more social commerce on your social networks over the next few years.
While Generation Z is driving these changes, Millennials and Baby Boomers are going with the flow.
There may be some pushback from the older generations related to security and privacy when it comes to shopping from social media sites, but technology will keep up with that and develop better ways to protect yourself.
We hope you have learned something new today about social commerce, social selling, social retail, etc.
It does and will have a huge impact on today’s generations and the up and coming generations.
|Ad Glow||Coupon Follow||eMarketer|
|Hubspot Blog||Influencer Marketing Hub||Insider Intelligence|
|Save My Cent||Shopify|