Social commerce made up about 5%** of US eCommerce sales in 2022 and is expected to inch up to nearly 7%*** by 2025, according to Mintel research. The sector is growing at a much slower pace compared to other countries. China, for example, saw an estimated $327 billion in livestreaming sales in 2021, accounting for 10% of overall eCommerce sales. However, new Mintel data shows that US consumers remain engaged with social commerce opportunities. Half (47%) of Americans say they have purchased through social media, 58% say they are interested in doing so, and 39% have made a purchase on social media and would do so again.
Katie Hansen, Senior Retail and eCommerce Analyst, Mintel Reports US, said:
“Social commerce is growing in the US, albeit at a much slower pace compared to the rest of the world. This, however, does not mean that brands should ignore the emerging shopping option. Our research shows that nearly half of consumers have made a purchase via social media and 58% are interested in doing so, showcasing that this channel is not going away. Brands have the opportunity to establish and refine their social commerce strategy now, when the channel is still new, by educating consumers about the process of shopping via social media, communicating the safety and security of their data, and leveraging the high engagement opportunities the platforms offer.”
Consumer concern over data security
For social commerce to grow significantly, consumers need to understand and feel confident in the safety of a brand’s social media sites. Less than one in five (17%) consumers say they are more comfortable purchasing from a brand’s social media compared to its website (41%) and 40% say they lack trust in the security of their payment information. However, 34% say they would be more interested in shopping on social media if they knew how their data was being kept secure. Additionally, it seems that Americans are willing to extend trust to brands online as 35% say they…
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