Social selling empowers brands to engage with their audience through highly targeted, data-driven strategies that deliver measurable returns. For consumers, social media shopping transforms the buying experience into a seamless, immersive experience that encourages brand discovery and product exploration with every interaction.
Social commerce has grown over the years, and this upward trajectory shows no signs of slowing. Experts predict this sector will hit $8.5 trillion by 2030, solidifying its role as a critical driver in digital retail.
In this blog, we’ll take a retrospective look at key social commerce statistics from 2023 to position your business plans for 2024 and beyond – especially as the next shopping season approaches.
Top Social Commerce Statistics To Inform and Inspire Your Brand
1. Global social shopping sales were estimated at over $571 billion in 2023.
2. Social commerce sales worldwide are forecasted to reach nearly $700 billion in 2024.
3. Over 70% of consumers preferred online shopping over offline in 2023.
4. Young adults aged 18 to 34 in the U.S. exhibited a strong preference for Instagram in 2023.
5. Nearly 9 out of 10 Americans in the U.S. followed content creators or influencers online in 2023.
6. Social shopping sales in the U.S. were estimated at over $75 billion in 2023.
7. The value of social commerce retail sales in China is nearly tenfold that of the U.S.
8. Facebook dominated as the preferred social shopping platform in the U.S. in 2023.
9. Nearly a quarter of global shoppers rated Facebook as the top platform offering the best social commerce experience in 2023.
10. Tech emerged as the preferred fast-moving consumer goods category for online shopping in 2023.
11. Millennials and Gen Z have shown a more prominent engagement with social commerce.
12. The number of U.S. social shoppers reached nearly 110 million between 2021 and 2023.
13. Merchandise was the most purchased product category created and launched by influencers in 2023.
14. The average annual social commerce sales per shopper in the U.S. were expected to exceed $600 in 2023.
15. Over 106 million Americans were social buyers in the U.S. in 2023.
16. YouTube and Facebook were the most used social media platforms for pre-purchase searches by U.S. consumers in 2023.
17. Around 34% of shoppers planned to use social commerce for holiday product searches and purchases in 2023.
18. Nearly 60% of U.S. shoppers bought a product they saw on social media in 2023.
19. Social media ad spending reached nearly $70 billion in 2023.
20. Nearly 29% of Internet users discovered new brands, products and services through social media ads in 2023.
21. Almost half of working-age internet users turn to social networks to learn about brands through their content in 2023.
22. Nearly 50% of U.S. users preferred both in-store and online shopping options in 2023.
23.About 20% of U.S. users purchased products or services on social media in 2023.
24. Nearly 22% of U.S. users bought through social media because of free shipping in 2023.
25. More than 40% of U.S. users decide to make a purchase after seeing a product once or twice on social media.
26. Nearly 50% of marketers had their brands making direct sales through social media apps in 2023.
27. About 55% of social media users were worried about the legitimacy of companies selling on social media platforms in 2023.
28.Over a third of social media marketers revealed Instagram yielded the highest return on investment in 2023.
29. Short-form videos stood as the top social media format with the highest ROI in 2023.
30. Over 1 in 5 in each of the Gen Z, millennial and Gen X demographics directly purchased within a social media app in 2023.
📗 Related article: How To Use Social Media for Business in 2024
Social Shopping Statistics and Trends
Equip your marketing plan with these social media shopping statistics:
1. Global Social Shopping Sales Were Estimated at Over $571 Billion in 2023
In 2023, the worldwide social commerce market generated an estimated $571 billion in revenue.
This market is anticipated to experience significant growth, with revenues expected to surpass $1 trillion by 2028, driven by a compound annual growth rate of 13.7%.1
2. Social Commerce Sales Worldwide Are Forecasted To Reach Nearly $700 Billion in 2024
With the continued global growth of social commerce, social media platforms are expected to generate nearly $700 billion in revenue in 2024.
The projection marks an approximate 23% increase from the previous year.2
📗 Related article: What Is Social Commerce and Why Your Business Should Care
3. Over 70% of Consumers Preferred Online Shopping Over Offline in 2023
The preference for online shopping differs significantly across product categories.
In the context of holiday and entertainment acquisitions, 72% of participants in a 2023 global survey indicated that they favored online shopping over traditional offline methods.3
4. Young Adults Aged 18 to 34 in the U.S. Exhibited a Strong Preference for Instagram in 2023
Though Facebook remains the primary choice for digital shoppers in the U.S.
As indicated by a 2023 survey, an analysis of age-related preferences exposes a heightened preference for Instagram among young adults aged 18 and 34 in the U.S.4
5. Nearly 9 out of 10 Americans in the U.S. Followed Content Creators or Influencers Online in 2023
Statista Consumer Insights Global survey 2023 reveals that approximately 90% of Americans actively follow online influencers or content creators, while the remaining 10% within the online residential population do not engage with influencers.5
6. Social Shopping Sales in the U.S. Were Estimated at Over $75 Billion in 2023
In 2023, the social commerce sales market in the U.S. brought in an estimated $75.6 billion in revenue. Looking ahead, forecasts indicate a significant surge, with revenues expected to nearly double over the next five years, surpassing 141 billion dollars.6
Image: Statista
7. The Value of Social Commerce Retail Sales in China Is Nearly Tenfold That of the U.S.
As mentioned, Asian nations are avid participants in social media shopping, with over 90% of the online population in Thailand and China engaging in social buying.
To contextualize: China’s social commerce retail sales outvalue those of the U.S. about ten times.7
8. Facebook Dominated as the Preferred Social Shopping Platform in the U.S. in 2023
A study conducted in August 2023 found that Facebook shopping claimed the top spot as the preferred social network for shopping in the U.S.
About 20.6% of these are digital shoppers who used it for this purpose in the month before the survey.
Instagram shopping ranked second, capturing 11.8% of U.S. shoppers, while YouTube followed closely with 10.7%.8
9. Nearly a Quarter of Global Shoppers Rated Facebook as the Top Platform Offering the Best Social Commerce Experience in 2023
Meta social media channels are not only popular in the U.S. In a survey conducted in 2023, about 23% of consumers worldwide considered Facebook to offer the most satisfying social commerce experience.
Instagram secured the second spot with 18%, while both YouTube and TikTok followed, each receiving an 8% rating.9
10. Tech Emerged as the Preferred Fast-Moving Consumer Goods Category for Online Shopping in 2023
Among fast-moving consumer goods (FMCG) categories, online shoppers showed a strong inclination towards tech products.
Specifically, 54% of consumers expressed a preference for purchasing consumer electronics through online channels.10
11. Millennials and Gen Z Have Shown a More Prominent Engagement With Social Commerce
Social commerce has gained popularity across diverse age groups.
Younger consumers exhibit a more notable inclination. Gen Z (ages 11–26), who are highly comfortable with technology, and Millennials (ages 27–42), with greater financial independence, are especially drawn to shopping on social media platforms.7
12. The Number of U.S. Social Shoppers Reached Nearly 110 Million Between 2021 and 2023
Although the Asia-Pacific region initially introduced the concept of social commerce, its adoption has surged in the U.S. in recent years. The number of U.S. social shoppers increased from approximately 97 million to nearly 107 million between 2021 and 2023.11
Image: Statista
13. Merchandise Was the Most Purchased Product Category Created and Launched by Influencers in 2023
In 2023, social buyers in the U.S. most frequently purchased merchandise. Nearly 31% of survey respondents identified merch as the influencers’ top product category.
Beauty came next, with almost 18.9% of participants indicating its prominence. Food closely followed at 18.7%.12
Image: Statista
14. The Average Annual Social Commerce Sales per Shopper in the U.S. Were Expected To Exceed $600 in 2023
Estimates indicate that the average annual social commerce sales per shopper in America are projected to surpass $628 in 2023. Forecasts anticipate a substantial 95% increase in this figure by 2027, reaching around $1,224.13
15. Over 106 Million Americans Were Social Buyers in the U.S. in 2023
Approximately 106.8 million social buyers were present in the U.S. in 2023. Projections indicate a nearly 10.6% increase by 2027, with over 118 million Americans anticipated to engage in purchasing through social networks.14
16. YouTube and Facebook Were the Most Used Social Media Platforms for Pre-Purchase Searches by U.S. Consumers in 2023
In the first quarter of 2023, survey findings highlighted the significant role of social networks, particularly YouTube and Facebook, in pre-purchase searches.
Approximately 60% of U.S. shoppers looked for product information on Amazon, while 42% preferred social search engines.15
📗 Related article: Video SEO Marketing Tips: How To Optimize for YouTube and Beyond
17. Around 34% of Shoppers Planned To Use Social Commerce for Holiday Product Searches and Purchases in 2023
In the year 2023, the findings from a survey unveiled that a notable proportion, specifically around 34%, of shoppers had intentions to leverage these platforms for both searching and making purchases related to holiday products.16
📗 Related article: 36 Black Friday Statistics You Never Knew: No. 11 Might Shock You
18. Nearly 60% of U.S. Shoppers Bought a Product They Saw on Social Media in 2023
According to a 2023 survey, around 58% of U.S. shoppers reported making a purchase after encountering a product on social media.
In the U.K., 44% of respondents did the same, while in Germany, the figure stood at 40%.17
19. Social Media Ad Spending Reached Nearly $70 Billion in 2023
Annually, brands invest billions in social media advertising in the U.S. From 2022 to 2023, expenditures hit almost $70 billion ($66 billion in 2022), covering ads on social networks, games and apps.
Projections for 2025 anticipate advertisers splurging over $82 billion on social network promotions.18
📗 Related article: Shoppable Ads: What Are They and How To Run Them
Image: We Are Social
20. Nearly 29% of Internet Users Discovered New Brands, Products and Services Through Social Media Ads in 2023
Data shows that over a quarter of internet users aged 16 to 64 (28.7%) came across new brands via social media advertisements, slightly trailing behind television advertisements (31.1%). Furthermore, 22.4% discovered new brands through comments on social media.19
Image: We Are Social
21. Almost Half of Working-Age Internet Users Turn to Social Networks To Learn About Brands Through Their Content in 2023
Globally, 48.6% of internet users aged 16 to 64 actively seek information about brands and products through social networks, underscoring a widespread interest in thorough product research. In the U.S., this trend persists with 44.1% of its internet population.19
Image: The Influencer Marketing Factory
22. Nearly 50% of U.S. Users Preferred Both In-Store and Online Shopping Options in 2023
In 2023, nearly half of U.S. users favored having both in-store and online shopping options. However, among social and eCommerce platforms, a majority (over 60%) lean towards the latter.20
23. About 20% of U.S. Users Purchased Products or Services on Social Media in 2023
Approximately 20% of U.S. users engaged in purchasing products or services through social media channels in 2023.
Among this group, the next significant majority (14.5%) reported making monthly purchases through social media platforms. Apparel (25.6%) and beauty (19.4%) products accounted for top purchases.20
Image: The Influencer Marketing Factory
24. Nearly 22% of U.S. Users Bought Through Social Media Because of Free Shipping in 2023
In 2023, close to 22% of U.S. users made purchases through social media, driven by the incentive of free shipping. The same users also disclosed spending amounts exceeding $100.20
Image: The Influencer Marketing Factory
25. More Than 40% of U.S. Users Decide To Make a Purchase After Seeing a Product Once or Twice on Social Media
More than 40% of U.S. users decide to make a purchase after encountering a product once or twice on social media, while the subsequent majority (32.9%) indicate considering a product after seeing it three to five times.20
26. Nearly 50% of Marketers Had Their Brands Making Direct Sales Through Social Media Apps in 2023
About half of marketers, specifically 47%, reported that their brands were making direct sales through social media apps in 2023. This indicates a significant shift in strategy, as these marketers are now leveraging the power and reach of social platforms to facilitate direct sales, bridging the gap between brand promotion and consumer transactions.21
📗 Related article: How To Use Your Social Media Channels As Lead Generation Tools
Image: Hubspot
27. About 55% of Social Media Users Were Worried About the Legitimacy of Companies Selling on Social Media Platforms in 2023
Social media shoppers’ top three worries were that the companies might not be legit (54%), they could struggle to get a refund (48%) and whether the stuff they’re buying is actually any good (44%).21
Image: Hubspot
28. Over a Third of Social Media Marketers Revealed Instagram Yielded the Highest Return on Investment in 2023
In 2023, more than 33% of social media marketers said that Instagram is where they see the highest return on investment (ROI) when selling directly on the app.
The rest of the top five platforms are Facebook at 25%, YouTube at 18%, TikTok at 12% and Twitter at 6%.21
Image: Hubspot
29. Short-Form Videos Stood as the Top Social Media Format With the Highest ROI in 2023
Short-form videos are poised to maintain their lead in delivering the highest ROI, followed by long-form videos in second place, though with a notable gap of 36%. Live stream is also at 36%. Other formats follow closely: user-generated content (34%), interviews or podcasts (32%) and infographics (30%).21
📗 Related article: Instagram Reels vs. TikTok for Business: Which Is Best for Your Industry
Image: HubSpot
30. Over 1 in 5 in Each of the Gen Z, Millennial and Gen X Demographics Directly Purchased Within a Social Media App in 2023
Over the last three months prior to the survey in 2023, more than 20% of social media users from Gen Z, Millennials and Gen X have made direct purchases within social media apps.21
| 5 Quick Social Marketing Tips for Businesses | |
|---|---|
| 1. Leverage Influencer Partnerships Given that nearly 90% of Americans follow content creators or influencers online, Partnering with the right influencers can significantly amp your brand visibility. Identify influencers who align with your brand values and audience. Their endorsement can help you tap into their followers and drive engagement effectively. | |
| 2. Embrace Short-Form Video Content With short-form videos recognized as the top social media format for ROI, it’s time to get creative! Platforms like TikTok and Instagram Reels are perfect for crafting quick, engaging videos that showcase your products, share tips, or tell your brand story. Remember, keep it authentic and relatable—your audience will appreciate it! | |
| 3. Highlight Free Shipping Offers Nearly 22% of users report being motivated to purchase through social media due to free shipping. Make sure to promote any shipping deals clearly in your posts and ads. A simple mention in your captions or eye-catching graphics can encourage potential customers to hit that “buy” button. | |
| 4. Utilize Social Media Ads Wisely With social media ad spending nearing $70 billion, don’t shy away from investing in targeted ads. Tailor your ads based on demographics and interests to reach your ideal audience. A/B testing different formats, like carousel ads or video ads, can help you determine what resonates best with your audience. | |
| 5. Create Engaging Content on Multiple Platforms With over 34% of shoppers planning to use social commerce for holiday purchases, diversify your content across various platforms. Post consistently on Facebook, Instagram, TikTok, and YouTube to reach a broader audience. Tailor your content to fit each platform—what works on Instagram might need tweaking for TikTok. |
📗 Related article: The Ultimate Social Media Marketing Strategy for eCommerce
Turn These Social Shopping Insights Into a Social Media Marketing Plan
You can leverage these social commerce trends to solidify your marketing strategy and have better returns.
Thrive Internet Marketing Agency is here to help you with all things social media marketing, including seasonal marketing.
From content calendar development to content writing and marketing, we’ve got you covered. Some of our services are:
• Social media brand management
• Social media advertising
Talk to our team — sell more on social media!
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