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* This chart and data were pulled from Insider Intelligence's Social Commerce 2021 report. Purchase the report here to get immediate access to the full analysis. |
Social commerce is a fast-growing segment of the US ecommerce market that's garnering more attention and investment from media companies and brands. We define "social commerce" to include products or services ordered by buying directly on the social platform or through clicking links on the social network that lead to the retailer's product page with an immediate purchase option.
Amid the pandemic-driven ecommerce boom of 2020, the US social commerce market surged 37.9% to $26.77 billion, following several years of growth in the mid-20% range. We forecast US social commerce sales will reach $36.09 billion, in 2021, up 34.8% year over year (YoY). By 2023, we expect sales to surpass $50 billion annually, nearly double the 2020 total. |
- With an additional $25.76 billion moving into social commerce over the next three years, social media companies are staking out their respective positions as they look to grow and diversify their revenue streams.
| - Brands' optimism in social commerce stems from the example of China, the most advanced social commerce market in the world. We forecast China's 2021 social commerce sales will reach $363.26 billion, up 35.5% YoY and more than triple what they were in 2018. These sales will account for...
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| This is just a preview of the information and insights you'll find in the Social Commerce 2021 report by Insider Intelligence. Purchase the report today for $995 to access the full analysis. |
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