Don’t confuse social commerce with ecommerce. Social media platforms will never be Amazon. While most traditional ecommerce purchases start with a product search—which requires intent—social media’s sweet spot lies in discovery.
While social buying is a growing trend in the US, it's more popular in China and Russia, where 51.5% and 49.5% of social network users have purchased via a social channel. In the US, millennials are the most likely to use social media networks as important information sources for shopping decisions. Looking ahead: We project social commerce will be a $79.64 billion industry in the US by 2025.
Russia is on China’s tail with a 49.5% penetration rate, and the US is in third place with 43.0%. More like this:. Report: Marketing with Stories 2021. Article: How US retail brands can take advantage of growing social commerce trends. Article: What China’s growing sustainability awareness means for brands.
As brick-and-mortar stores remained shuttered, ecommerce quickly became the channel of choice for many consumers in Latin America. In turn, retailers quickly shifted their attention toward online sales channels to keep pace with consumers’ growing appetite for online shopping.