Users spend an average of 150 minutes daily on Social media.
Hence, after witnessing the increased social media usage, most businesses have shifted online and created content related to their business on various social media platforms.
As a result, shopping and social media experiences have merged, leading to the rapid growth of the global social commerce market.
In this article, I have compiled the details about the social commerce market size worldwide and in the US and the consumer behaviors that fuel this sector.
So what’s the wait for? Let’s get into the details.
Social Commerce Market Size
The Global Social Commerce Market is forecasted to reach $6.24 trillion by 2030.
The social commerce market was valued at $913.90 billion in 2023 and is predicted to grow by a CAGR of 31.6% from 2023 to 2030.
Comparatively, the global market size was $727.63 billion in 2022.
Some of the major factors that drive the growth of the social commerce market are shifts in consumer preferences, innovations in mobile technology, the need for instant consumer service, increased penetration of social media apps, and more.
The following table displays the predicted size of the social commerce market over the years, growing at a CAGR of 31.6% between 2023 and 2030.
| Year | Social Commerce Market Size |
| 2022 | $727.63 billion |
| 2023 | $913.90 billion |
| 2024* | $1,202.69 billion |
| 2025* | $1,582.74 billion |
| 2026* | $2,082.89 billion |
| 2027* | $2,741.08 billion |
| 2028* | $3,607.27 billion |
| 2029* | $4,747.16 billion |
| 2030* | $6,247.26 billion |
*- Projected and calculated values
Source: Grand view research.
US Social Commerce Market Size
The Social Commerce market in the United States is projected to reach $659.41 billion by 2030.
The social commerce market size in the United States was $109.73 billion in 2023 and is estimated to grow by 29.2% between 2023 and 2030.
Meanwhile, in 2022, the size of the US social commerce market was $89.11 billion.
The primary drivers of the social commerce market in the United States are increased usage of social media and increased spending on social media advertisement.
The following table displays the calculated values of the US social commerce market size according to the given CAGR:
| Year | US Social Commerce Market Size |
| 2022 | $89.11 billion |
| 2023 | $109.73 billion |
| 2024* | $141.77 billion |
| 2025* | $183.17 billion |
| 2026* | $236.65 billion |
| 2027* | $305.75 billion |
| 2028* | $395.03 billion |
| 2029* | $510.38 billion |
| 2030* | $659.41 billion |
*- Projected and calculated values
Source: Grand View Research.
Global Social Commerce Revenue
The global Social Commerce Revenue is predicted to reach $1.64 trillion in 2024.
That will result in a growth of 30.8% in social commerce revenue in 2024.
Comparatively, the global revenue generated by the social commerce market in 2023 was $1.25 trillion. This was a 30.8% increase from the previous year.
Further, the market revenue is forecasted to reach $2.9 trillion in 2026.
The following table displays the global social commerce revenue over the years.
| Year | Social Commerce Revenue |
| 2026* | $2,900 billion |
| 2025* | $2,144 billion |
| 2024* | $1,639 billion |
| 2023 | $1,253 billion |
| 2022 | $958 billion |
| 2021 | $732 billion |
| 2020 | $560 billion |
*Projected values
Source: Oberlo
Consumer Behaviour that Boosts Social Commerce Market
48% of social media users make impulsive purchases on social media.
Almost half of the social media users reported that they had made an impulsive purchase on social media after coming across a product. These impulsive purchases contribute significantly to the growth of the social commerce market.
A survey conducted by Bankrate in September 2023 revealed that US adults spent $71 billion on impulse purchases between August 2022 and August 2023.
Over half of the consumers who made these impulse purchases regretted at least one of their purchases.
The following table displays the percentage of shoppers who have impulsively bought a product and the share of buyers who regretted purchasing at least one product.
| Generation | Percentage of shoppers who impulsively made a purchase | Percentage of shoppers who regret at least one impulse purchase |
| Gen Z | 60% | 58% |
| Millennials | 61% | 55% |
| Gen X | 42% | 56% |
| Baby boomers | 34% | 62% |
Source: Bankrate
20.6% of digital buyers in the United States prefer to shop on Facebook.
A study conducted in August 2023 brought into the limelight that nearly 1in 5 digital shoppers in the United States prefer to use Facebook for shopping.
Meanwhile, 11.8% of the shoppers in the country said that they prefer to use Instagram to purchase goods online.
Here are further details about the most popular social commerce platforms that drive the Social commerce market in the United States.
| Social Commerce Platforms | Percentage of Digital buyers preferring them |
| 20.6% | |
| 11.8% | |
| YouTube | 10.7% |
| TikTok | 8.2% |
| 5.1% | |
| 5.1% | |
| Others | 38.5% |
Source: Statista.
Almost one-third of the Consumers Preferred to shop on Facebook
Most small businesses have worked on creating their presence on different social media platforms in order to reach their target audience.
Facebook has now become a marketplace where most shoppers search for products they wish to buy. Further, in a survey conducted in 2023, 33% of the people reported that they prefer to use Facebook for online shopping over other social media platforms.
The second most preferred social media platform for shopping was Instagram, with 24% of online consumers preferring it.
The following table displays the social media platforms through which online shoppers are more likely to make a purchase.
| Social Media Platform | Percentage of Online Shoppers |
| 33% | |
| 24% | |
| TikTok | 8% |
| 6% | |
| 4% | |
| Others | 25% |
Source: Statista.
Deals and easy purchases on social media, social influence, impulsive shopping, and other factors have contributed significantly to the increase of the global social commerce market.
As a result, the global social commerce market is expected to increase at a CAGR of 31.6% between 2023 and 2030 and reach $6.24 trillion by the end of the prediction period.
That was all about Social Commerce Market Size. Here are some related reads you can check out:
