Social e-commerce is on the rise, and the global market will reach 1.2 trillion US dollars in 2025

According to the latest research from Accenture , by 2025 , shopping consumption generated through social media worldwide will reach US$1.2 trillion , a significant increase from the current US$492 billion .

Accenture said that social commerce will grow three times faster than traditional commerce . Generation Z and millennial users are the main drivers of social commerce development . By 2025, they will account for 62% of the total global social commerce spending .

At the same time, Accenture pointed out that among the social media users surveyed, nearly two-thirds ( 64%) said they had made a purchase through social media channels in the past year , which would translate to nearly 2 billion users worldwide .

It is reported that Accenture's report is based on a series of studies on social commerce. It interviewed consumers and sellers in May and June 2021, and conducted an online survey of more than 10,000 social media users in five countries (China, India, Brazil , the United States and the United Kingdom) in August and September 2021.

In addition, Accenture used the following definition for social commerce in this report : Social commerce includes products or services ordered through social networks, covering B2C and C2C transactions , regardless of the payment or delivery method.

With the rapid development of social commerce, large enterprises will undoubtedly have important development opportunities , but Accenture said that small brands and small businesses will also benefit from it .

59% of the respondents said they prefer to support small and medium-sized enterprises through social commerce . At the same time, 63% of the respondents said they are willing to make a second purchase from the same seller , which also shows the advantages of social commerce in building user loyalty and promoting repeat purchases .

However, Accenture found that half of the users surveyed were concerned about the lack of security and post-sales services such as refunds when purchasing from social commerce channels .

In this regard, Oliver Wright, global consumer leader at Accenture , said that social commerce is driven by creativity , ingenuity and human factors . To achieve the development of social commerce , merchants and brands need to bring their products and services to where consumers really need them .

This means merchants and brands working together across the e- commerce ecosystem of platforms, marketplaces, social media, and influencers to share data and insights to provide consumers with the best possible experience in the digital marketplace .

Social e-commerce

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Influencers

Shopping