According to Statista’s global consumer survey data, in leading economies such as the United States, China, Germany, or France, as well as countries such as Egypt, Brazil, or Malaysia, over 90% of internet users were already active on social media in 2022. These social platforms meet various needs of users, not only as social interaction platforms, news sources, entertainment providers, but also as destinations for trade and sales. Sellers directly reach transactions with consumers through personalized advertising, internet celebrity promotion, live streaming, AR features, and more.
A recent analysis conducted by Grand View Research suggests that social commerce has huge revenue potential in the future. Data shows that the global social commerce market was already worth $724 billion in 2022 and will continue to grow at a compound annual growth rate of 30.8% in the coming years. The market is expected to break the threshold of $1 trillion in 2024 and exceed $2 trillion in revenue in two years. By 2030, Grand View Research predicts that the total annual revenue of the global social commerce market will reach $6.2 trillion.
Post time: Jun-14-2023