10+ Social Commerce Statistics: A Must-Know in 2024

Social commerce is rapidly growing and reshaping how consumers shop online, as more people are turning to social media platforms for their purchases worldwide. 

But just how significant is this trend in terms of global impact? With that in mind, we’ll cover key social commerce statistics that highlight its growth and influence.

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)

To learn more about other types of commerce, we would suggest you visit our e-commerce statistics resource page to learn more about e-commerce and its impact on online shopping.