10 Social Commerce Statistics for 2023

Social Commerce on the Rise:

According to forecasts, social commerce will develop tremendously in 2023, with a 43% increase in sales via social media platforms over the previous year.

Mobile Dominance:

Mobile devices will continue to dominate social commerce, with smartphones and tablets accounting for more than 80% of social media purchases.

Influencer Marketing’s Impact:

With 75% of consumers reporting that they have made a purchase based on an influencer’s suggestion, influencer marketing will play a key role in social-commerce.

Social Media Shopping Features:

With 60% of users expressing interest in purchasing things directly through platforms such as Instagram, Facebook, and TikTok, social media platforms will continue to improve their shopping features.

Live Streaming Commerce:

With 70% of consumers saying they are more inclined to make a purchase while watching a live stream from their favorite brands or influencers, live-streaming shopping events will grow in popularity.

Social Shopping Communities:

Social shopping communities will thrive, allowing users to share their favorite products, reviews, and shopping experiences with others, influencing their purchasing decisions.

Personalized Recommendations:

AI-driven algorithms will be used by social commerce platforms to deliver personalized product recommendations, with 65% of consumers reporting that they value personalized purchasing experiences.

Social Payment Methods:

Payment alternatives incorporated into social networking platforms will grow increasingly popular, with 50% of users preferring seamless checkout experiences within the app.

Impact of User-Generated Material (UGC):

UGC will play an important part in social-commerce, with 80% of customers trusting UGC over traditional brand material, impacting their purchasing decisions.

Social Commerce and Gen Z:

With 90% of this generation indicating that they discover and purchase things through social media platforms, Gen Z will be a crucial demographic driving social-commerce growth.

Wrapping Up

In the end, mobile domination, influencer marketing, live-streaming events, and the inclusion of shopping tools on social media platforms will drive significant development in social commerce in 2023. Social commerce groups, personalized recommendations, and user-generated content will influence the environment as well, appealing to the tech-savvy Gen Z audience’s preferences. As social commerce evolves, businesses must modify their tactics to capitalize on these trends and tap into the enormous potential of social media for boosting sales and brand engagement.

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