Global social commerce market will be worth $1.2 trillion by 2025

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Global social commerce market will be worth $1.2 trillion by 2025
08 Jan 2022
5 min read

News Synopsis

A new report by Accenture shows that shopping on social media platforms is expected to reach $1.2 trillion globally by 2025. This increase can be driven primarily by Gen Z and Millennial social media users, which accounts for 62% of global social commerce spending by 2025. Social Commerce is the shopping experience of an individual starting from product discovery to the check out process on a social media platform.

The report also said that the highest growth in social commerce can be in developing markets like India and Brazil. The estimates show that eight out of ten social media users in India are using social commerce for the purchase of items. 

However, most of the users are concerned about the purchases not being protected and the refunds not being processed properly, which makes trust the biggest barrier in the adoption of social commerce. The report showed that social commerce is more likely to grow in clothing highest followed by consumer electronics and home decor.

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