Yearly social commerce sales per buyer in the United States will nearly double from $627.8 in 2023 to $1,223.7 in 2027, according to a forecast by Insider Intelligence/eMarketer.
According to their Social Commerce Forecast 2023 analysis, sales growth is being driven by an increase in dollars spent per buyer rather than by new purchasers.
Because most individuals are not perusing social media with the purpose of buying, Meta and TikTok must convert browsers into buyers.
According to the survey, TikTok Shop sales are expanding, and social platforms are acquiring an increasing share of total retail e-commerce sales.
Ariel Ben Solomon is the Growth and Strategy manager at Ecomhunt. He is the host of the Ecomhunt Podcast. Can be followed on Twitter at @ArielBenSolomon
