Title The influencer marketing factory - social commerce report 2024.pdf ✅

What you will learn From our research on Social Commerce From our exclusive surveys 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 97% of Gen Zers turn to social media as their main source of shopping inspiration. eMarketer forecasted that US social commerce sales would rise by 26.3% to $67.06 billion in 2023. China’s social commerce industry is projected to reach $442.64 billion in 2023, Yahoo Finance reports. Insider Intelligence forecasts that the average U.S. social buyer will spend $641 via social commerce channels in 2023. The livestream e-commerce market will reach approximately $50 billion by the end of 2023, Coresight Research and Bambuser reported. Facebook and Instagram Shops were top rated by responders for social commerce experience, and Facebook Shop ranked #1 for checkout experience. Surveyed users ages 18-34 purchase via social commerce for limited time offers whereas users 35+ are incentivised by free shipping, Apparel, beauty products, and home products account for 60% of all social commerce purchases, a 25% increase from our 2021 report. 37% of responders report spending more than $100 USD on social commerce in the past year. A majority of responders from all age groups say they need to see a product 1-2 times before making the decision to purchase.