[eMarketer] Social commerce in US exceeds $30 billion, China still king

[eMarketer] Social commerce in US exceeds $30 billion, China still king

08-07-2021 11:15:00 | Door: Bob Koigi | hits: 1016 | Tags:

Social commerce sales in the US have been on an upward trajectory, and are estimated to reach $36.62 billion in 2021, marking a 35.8 per cent growth.

That’s only a slight deceleration in growth from social commerce’s blowout 2020, when sales surged by 38.9%, in what is largely attributed to the pandemic-driven boom in ecommerce and increased social media consumption.

However even with that growth, the US social commerce market is about one-tenth the size of China’s—$351.65 billion in 2021.

The US also lags behind China when looking at social commerce as a percentage of total ecommerce sales. eMarketer estimates that this year social commerce will make up just 4.0% of the US retail ecommerce market, compared with 13.7% in China.

The gap between the two countries will remain fairly stable through 2024, when social commerce will make up 5.0% of US retail ecommerce sales versus 14.5% in China.

Read the full eMarketer article here

 

www.emarketer.com

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