Social media has become an integral part of our daily lives, transforming how we connect, communicate, and consume information. But social media is not just about likes, followers, and sharing posts anymore. It has evolved into a thriving platform for Ecommerce, changing how businesses sell products and consumers shop online. In this blog, we will explore the top 17 social media Ecommerce statistics for 2024, shedding light on the current trends and future forecasts in this rapidly growing industry.
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How do we collect these statistics?
Our statistics are derived from reliable market research. We gather data from reputable platforms, organizations specializing in Ecommerce trends, and industry-leading publications such as Tidio and Hubspot.
17 social media Ecommerce statistics
- According to statistics, in 2022, around 84% of Chinese consumers shopped on social media. [Source: Tidio]
- Social media retail has a compound growth rate of 32% from 2023 to 2030, which explains why the numbers are so high. And by high, we mean social commerce sales reaching $6.2 trillion by 2030. [Source: Tidio]
- Nearly 9 out of 10 Thai people bought products on social media in 2022. Thailand is followed by India (86%), the United Arab Emirates (86%), and China (84%). [Source: Tidio]
- Chinese brands have a whopping 30% conversion rate on social media thanks to things like live-stream shopping, extremely popular social influencers, and purchasing new products through social media auctions. [Source: Tidio]
- According to social media usage statistics, Instagram is used by 12% of all digital buyers in the US, YouTube by 9%, and TikTok by 8%. [Source: Tidio]
- According to predictions by Accenture, a third of the global social media shopping spend in 2025 will be attributed to millennial consumers. Gen Z closely follows them with 29% and Gen X with 28%. [Source: Tidio]
- Only 15% of buyers know how to return items purchased through social media. [Source: Tidio]
- Around 98% of people have experienced availability issues at some point when shopping on social media, and 81% complained of poor customer experience with social commerce. [Source: Tidio]
- Social media influencers are a big deal and a huge part of the social media marketing industry. The influencer marketing industry is set to grow to approximately $21.1 billion in 2023. [Source: Tidio]
- Global sales through social media platforms were estimated at 992 billion U.S. dollars in 2022. Online purchases through this channel will become even more popular in the future. Forecasts suggest that the value of social commerce sales will reach around 8.5 trillion U.S. dollars by 2030. [Source: Statista]
- 27% of consumers prefer discovering new products through social media over any other channel. [Source: Hubspot]
- Just 41% of social media users feel comfortable making purchases on social media platforms, and only 37% trust social media platforms with their card information. [Source: Hubspot]
- $86.21 was the average value of online orders referred through social media during Q2 of 2022. [Source: Hubspot]
- Over half of the businesses selling on social media have under 100 employees; about 20% make under $100K in revenue. [Source: Hubspot]
- Almost 4 in 10 shoppers hold back from shopping on social media over concerns about how platforms manage personal data, per a May 2023 PYMNTS.com survey. [Source: Insider Intelligence]
- 41% of consumers have discovered a product on social media in the past three months, up 14% YoY. [Source: Hubspot]
- 67% of consumers have already bought through social media platforms. [Source: Hubspot]
Conclusion
These statistics provide valuable insights into the growing impact of social media on online shopping. From the increasing number of social media users engaging with brands to the rise of influencer marketing, these trends indicate that businesses must prioritize their social media strategies to stay ahead in the digital world. By leveraging the power of social media, businesses can reach a wider audience, boost brand awareness, and drive sales. It is crucial for businesses to stay updated on these trends and adapt their marketing strategies accordingly to capitalize on the opportunities presented by social media for Ecommerce success.
