Global social commerce market is predicted to grow to $1.2 trillion by 2025

New Ideas in MarketingEssential news for marketers, summarised by YouGov
January 07, 2022, 2:33 AM GMT+0

64% of social media users bought a product on social in 2021, as per Accenture.

As brands and retailers prioritise merging social interactions and ecommerce, the global social commerce market is expected to grow from $492 billion to $1.2 trillion by 2025. Millennials will account for 33% of the social commerce market, while Gen Z's social commerce spending is predicted to grow rapidly.

Gen Z and millennials will contribute 62% of the global social commerce spending by 2025. Clothing (18%), consumer electronics (13%), and home decor (7%) are projected to be the most bought items globally.

In addition, as brands and retailers invest in social commerce, it could grow from 10% of all ecommerce to 17% by 2025. However, 50% of users believe social commerce purchases will not be protected or refunded, indicating a lack of trust.

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