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Social commerce will triple to $1.2 billion by 2025

Social commerce is expected to grow three times faster than traditional commerce to reach $1.2 billion by 2025, according to a new Accenture report.

The $492 billion global industry growth is expected to be driven by Gen Z and millennial social media users, who will account for 62% of social commerce spending by 2025.

Social commerce will triple to $1.2 billion by 2025

In 2021, 64% of social media users said they had made a social commerce purchase, meaning they researched or discovered and verified a product through a social media platform like Facebook. The industry has received a significant boost due to the COVID pandemic lockdowns.

“The pandemic has shown how people are using social platforms as an entry point for everything they do online – news, entertainment and communication. said Robin Murdoch, Global Head of Software and Platforms Industry at Accenture. “The steady increase in time spent on social media reflects how essential these platforms are in our daily lives. They are reshaping the way people buy and sell, giving platforms and brands new opportunities for user experiences and revenue streams.

More than half of social shoppers (59%) said they support small and medium-sized purchases through social commerce, while 63% said they would buy from the same seller again, showing that Loyalty occupies an important place on the social.

Social commerce will triple to $1.2 billion by 2025

However, half of social shoppers said they were worried their purchases weren’t protected or refunded properly. Clarifying and building confidence on this issue could increase willingness to buy in the future, it seems.

The areas with the highest number of purchases via social networks are fashion (18%), electronics and food (13% each) and interior decoration (7%).

The study also noted that consumers in developing countries were more likely to shop on social media, with eight out of ten Chinese social media users making purchases on social apps.

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