Social commerce grows three times faster than e-commerce

Social commerce is set to accelerate three times as fast as traditional e-commerce. But what is social commerce? It’s when the entire customer journey - from product discovery to purchasing - occurs on a social media platform. No website required! 

 

According to Marketing Dive, Gen Z and millennial consumers are behind the drive, with around two billion social media users having said they made a purchase on social media in the past year.

Accenture’s report on social commerce predicts that shopping on social media platforms will reach $1.2 trillion - that’s £87 billion - globally by 2025. While this is great for large businesses, it also benefits independent and smaller brands who solely rely on social media for marketing their brands. 

What are your thoughts? Is social commerce the future, or will it only last as long as the social media platforms themselves are seen as “cool”?

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