How would you define Social commerce? Have you heard about social shopping? Is it something you are using or interested in learning?
Social commerce refers to transactions between consumers and businesses through various social media channels such as Facebook, Instagram, Pinterest, and Twitter. Consumers can interact directly with brands via these platforms. Brands can respond to customer comments, and share coupons, giveaways, discounts, and other offers. Social commerce aims to connect customers with brands by providing them with personalized information and experiences.
This idea has gained traction in recent years and has become a part of everyday life. As mobile phone usage continues to increase worldwide, social shopping is expected to play a more prominent role in eCommerce. With the rise of social media, social shopping is becoming more relevant every day.
Social commerce has become extremely popular over the last decade or so. Are you curious to know how much social commerce will take over from ecommerce by 2022?
Below listed social commerce statistics 2022 will discuss the factors of social commerce that one must need to know as a brand, marketer, social media content creator, business, or consumer.
⦁ Facebook - over 250 million sellers use Facebook shops every month, and over one million people use Facebook Shops to purchase products regularly every month.
⦁ Instagram - According to Instagram shopping statistics, more than 130 million people are likely to buy products from this platform. It is one
⦁ Pinterest - To find new ideas and inspire future purchases, over 478 million people use Pinterest every month. Millions of businesses can showcase & tag products on Pinterest TV for Pinners to shop these products on their websites.
According to a recent Accenture report, experts predict that social commerce opportunities will grow three times as fast as traditional ecommerce by 2025. It was worth $492 billion worldwide in 2021 which will reach $1.2 trillion in 2025. - Accenture
The global social commerce market size was $0.62 trillion in 2021 and is predicted to reach $7.03 trillion by 2030, representing a CAGR of 30.8% throughout the period of 2021-2030. - Strategic Market Research
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As per one of the social commerce stats reported by Insider Intelligence, total US retail Social Commerce sales will reach $45.74 billion in 2022 and $79.64 billion in 2025.
eMarketer forecast that Facebook would capture 180.7 million social commerce customers in 2022. In 2020, Facebook launched Facebook Shops for small- and medium-sized businesses to bring their business online. eMarketer expects that Instagram, another social commerce tool owned by Facebook, will garner 126.3 million users by 2022, followed by TikTok & Pinterest (90.6 & 89.6 million).
According to a 2020 survey, 12% of eCommerce companies planned to move to social commerce in 2021, while 30% had already been involved and engaged in it out of those surveyed companies. However, according to the same report, 20% of companies said they would not work in social commerce any longer. While these numbers may suggest the industry is growing quickly, it also means many companies are shifting toward other channels. - Statista
Businesses are increasingly turning to social media as a means to market themselves. According to research conducted by Social Media Examiner, 91% of B2B advertisers use Facebook, making it the most popular and well-known social media platform, it's intriguing to take note that 81% likewise use LinkedIn. Instagram is in the third spot, with 71% of B2B advertisers saying they involved it to lead the business in 2020. - Social Media Examiner
Due to the development of WeChat Mini Program stores back in 2017, there was much of a boost in social commerce in China. WeChat Mini Programs are a kind of "sub-applications" within WeChat or you can say an app-within-an-app feature that allows brands to sell and advertise products directly to consumers. China's most popular messaging app - WeChat has 1.24 billion users and 3.2 million mini-programs that offer advanced features, such as task management, eCommerce, coupons, etc. - Business of Apps
According to a survey conducted by Influencer Orchestration Network, 49% of people hear about brands through word of mouth. Nearly 1 in 2 social media users will buy a product after hearing about it from a friend, influencer, or family member. In addition, nearly half of U.S. consumers say they've made a purchase because someone influencer recommended it to them via social media in one of their posts or stories. Influencer marketing is also effective for B2C products. Interestingly, 56 percent of social media users trust recommendations from friends and family members. - Influencer Orchestration Network
Did you know that there was a massive 350% increase in the usage of Pinterest shopping tools in 2020? The potential of social commerce was recognized by one of the social media platforms i.e. Pinterest. One can now easily add tags to featured products in the platform's product catalog and disclose paid partnerships. When a user clicks on a tag, they will be redirected to the product listing page on Pinterest, where they will get a link to purchase on the retailer's site or original brand. - Social Media Today
Also Read:- 8 Latest Social Commerce Trends for 2022
Social commerce is an already established industry. We know what it looks like, who uses it, and how big it is. Social commerce is predicted to grow over the next few years.
A lot of people don’t even realize that social commerce exists. They think that it is just a trend. But it is here to stay. Social Media Marketing is still growing and changing every year.
These social commerce statistics in 2022 have removed all your doubts or queries in case there was any question about how social commerce would change the face of ecommerce in the coming years. We hope you have learned something new today about social shopping, social commerce 2022, social retail, social media marketing, etc.
If you’ve gone through the article above, you know exactly what we’re talking about.