The market for social commerce will grow to $ 1,200 billion by 2025. Outside of the Chinese market, this form of online trading will hardly become of serious scale.
This is confirmed in a study, but in an analysis by Accenture. The combination of streaming video and social media appeals to the imagination because it brings reach, inspiration and purchase intentions close together. This seems to be primarily a Chinese issue.
Social commerce, also known as social shopping, will triple in size by 2025 to $ 1,200 billion. One thousand billion is realized in China, 99 billion in the US and thirteen billion in the UK.
According to Accenture, 17 percent of the total e-commerce market is created through social channels.
Chinese social media is better equipped than Western ones. They are not only designed for distribution, but at the back there are also links that handle transaction and logistics. Facebook Instagram and Google YouTube are interested in this phenomenon. Consumers spend hours a day on these channels and are easily inspired by the productions they see. Social channels are an integral part of lives, shops are separate destinations.
International brands but also small traders follow the development of social commerce with interest. Telling an authentic or not brand story is in their nature and makes non-stores interesting alternative marketing and sales channels.