10+ Social Commerce Statistics, Data & Trends For 2023

The rise of social commerce in the US is hard to overlook. Sales from social commerce are on track to surge by 34.4% in 2023. 

Zoom out a bit, and the figures show an uptrend, with US social commerce spending having climbed by 27% in 2022 compared to the prior year. Globally, the arena is just as dynamic, with the market set to clock in at an impressive $2.4 trillion value this year. 

Let me share the most crucial social commerce statistics and insightful social media shopping data you should be aware of right away. 📈🌐

Social Commerce Statistics: The Key Data

• The global social commerce market will be valued at $2.4 trillion in 2023, and by 2030, that number will reach $8.5 trillion.
• The global social commerce market is expected to grow at a compound annual growth rate (CAGR) of 31.6% from 2023 to 2030.
• US social commerce sales are set to grow 34.4% this year to $53.1 billion.
• US social buyers make up 32% of online consumers, or 90.2 million people.
• In 2022, 4.4% of U.S. online retail sales were social commerce.
• The average US social buyer spent $518 in 2022, which is a 27% increase from the previous year.
• 98% of consumers plan to make at least one purchase through social commerce in 2022.
• 74% of consumers use social media to make purchasing decisions.

Key Findings on Social Media Shopping Statistics

• 71% of users are more likely to purchase products and services based on social media referrals.
• 54% of social media users conduct product research on the platform.
• 74% of consumers use social media to make purchasing decisions.
• 40% of Americans have bought something after seeing it on social media.
• 44% of Generation Z have bought something after a social influencer’s recommendation, compared to 26% of the general population.
• 43% of internet users in the United States are classified as “social media shoppers.”
• The social-commerce market is expected to exceed $2 trillion by 2025.
• In 2021, people used social-commerce channels to buy $37 billion worth of goods and services.
• 61% of US online adults under 25 made a purchase on a social and creator platform network without leaving the website or app, up from 53% in 2020.
• 75% of US live-shoppers want to attend more shows.

Sources: (GWI, ODM Group study, Mint, Kantar, McKinsey, Forrester)