Retail social commerce is already a multibillion dollar industry in the US, having earned $26.97 billion in sales in 2020. That figure will more than double by 2023, when we predict retail social commerce earnings will hit $56.17 billion.

We expect US social commerce sales to rise by 35.8% in 2021 to $36.62 billion. That’s only a slight deceleration in growth from 2020, when sales surged by 38.9% thanks to the pandemic-driven boom in ecommerce, increased social media consumption, and brands continuing to leverage these platforms to sell directly to consumers.

China’s $315 billion social commerce lead

Social commerce sales in the US are picking up, but the size of the market pales in comparison to that of China, according to eMarketer’s latest forecast on social commerce.

Three of the four largest ecommerce companies in the world are based in China—Alibaba, JD.com, and Pinduoduo (PDD)—and they are all still delivering impressive annual sales increases.

This report explores the pandemic’s impact on total retail, ecommerce, and mcommerce sales in Latin America, with breakouts for Argentina, Brazil, and Mexico. It also examines key drivers fueling regional market movements in 2021 and beyond.

Will this development change our social commerce forecast? Though the TikTok Shopping tab is big news, Nazmul Islam, eMarketer forecasting analyst at Insider Intelligence, said our estimates still hold. We expect US retail social commerce sales to grow by 35.8% to $36.62 billion this year. By the end of 2025, sales volume will more than double to $79.64 billion.

We estimate that US retail social commerce sales will almost double between 2019 and 2021, reaching nearly $40 billion this year. No. 3. Evaluating a retail media strategy.

Social commerce is rising rapidly worldwide. But to what extent can the US market mirror that of China, the world leader in social commerce?

China continues to lead the world in all things ecommerce, including innovation. Social commerce livestreaming is just one of many new stories for 2021 and beyond.