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Social Commerce

    Social commerce is experiencing a surge in engagement from brands, consumers and investors alike as new functionality and growing user comfort with the channel unlocks opportunities for seamless shopping experiences from discovery to checkout. Though use cases differ across global markets, brands should double-down on tailored in-app purchase journeys and test opportunities in technologies such as livestreaming and augmented reality try-on.

    US alone, annual sales through social commerce are expected to surge from approximately $37 billion in 2021 to $56 billion in 2023 (this includes sales of all products and services agreed on social platforms regardless of the method of payment or fulfilment). 168 By 2027, worldwide social commerce sales are set to reach over $600 billion.

    Social media platforms are making moves to embed the entire shopping journey — from discovery to checkout — into their core user experiences with functionality ranging from livestream sales and integrated product catalogues to augmented reality try-on.