Social commerce is set to explode by the middle of this decade. Accenture forecasts that the $492 billion in 2021 global social commerce sales will reach $1.2 trillion by 2025, accounting for 16.7% of the projected $7 trillion in global ecommerce total spend. In the U.S., social commerce sales are projected to more than double over the next three years, reaching $99 billion by 2025. And the major social platforms have been racing to enhance their commerce functionalities, from streamlining purchasing and payments to adding a range of livestreaming options.
This Special Report will provide tips for retailers and brands eager to monetize this growth, including:
• Leveraging the varied user experiences on different social platforms to reach not just key customer segments but also buyers at different points along the purchase funnel;
• Deepening their knowledge of individual shoppers, if they can get the customer data they want from the traditional “walled gardens” of social networks; and
• Exploring the metaverse as a place that could expand and amplify social commerce’s strengths, including greater personalization, community-building and potentially using NFTs as purchase or loyalty rewards.
Download the Report now!