Whenever social media websites go down due to technical issues, we start to panic. Facebook and Instagram are as necessary as the air we breathe.
Let’s face it:
Most of us use social media for fun, to kill time, or to post pictures from a fun vacation or a night out. But more and more people turn to social media to buy stuff.
Marketing, product sales, user contribution through online media channels such as social networks constitute social commerce. This practice includes social networking that helps set up a brand as trustworthy, legitimate and credible, social commerce statistics say.
Brands and businesses are increasingly using social media’s popularity and impact to create a potential customer base and invite them to buy through social media platforms.
Let’s check out the latest facts and trends.
Smashing Social Commerce Stats (Editor’s Choice)
- By 2021, the global social commerce market will increase by about 34%.
- Researchers forecast that e-sales will exceed $735 billion by 2023.
- In the last two years, social media referral traffic to online stores has increased by more than 100%.
- 30% of interviewed online buyers claim they would purchase directly from Pinterest, Facebook, Twitter, Instagram, or Snapchat.
- 70% of consumers search for products they need to buy on Instagram and Facebook.
- More than 50% of Millennials would buy through social media.
- When Nike and Snapchat partnered up to promote and sell Air Jordan III “Tinker” after the NBA All-Star game, they sold out in just 23 minutes.
These are some mind-blowing stats. Just to make sure we’re all on the same page, though:
What Is Social Commerce?
Social Commerce is the use of Facebook, Instagram, Pinterest, and other social media websites to market, promote and sell services and products.
Social media e-commerce marketing and promotion tactics include:
- Inviting consumers to vote on items’ styles and designs.
- Applying audio and video content to initiate views and clicks.
- Inviting potential consumers to submit comments, photos, and feedback.
- Using celebrity influencer endorsements.
- Linking products directly to the shopping cart or checkout.
- Offering and organizing giveaways or promo packages to clients who share the product on their feeds.
Opportunities in social commerce are vast. Brands and businesses can generate profits from the orders made from social media networks, receive customers’ feedback, and discover what their current and potential clients want to see in their product line in the future.
Now that we’ve cleared that up, let’s move on to some:
Social Commerce Statistics, Social Media, and Ecommerce Usage Facts
Apart from increasing customers’ awareness of the brand and ensuring their loyalty, social commerce goes one step ahead of ecommerce by making on-page sales possible. In this way, customers can purchase the product they need without being referred to a product’s website.
This procedure saves shoppers’ valuable time since it doesn’t include registering on a web store. Social commerce enables customers to do their shopping without leaving social media websites.
1. The average internet user uses social networks for about 2 hours and 15 minutes daily.
28% of the interviewees spend some of that time discovering new brands and browsing products they would like to purchase.
2. According to social commerce market statistics, 80% of internet users make online purchases.
Great news for e-store owners and retailers! With a growing interest in online shopping, their businesses have a bright future. Nowadays, 50% of internet users shop online every day, while the majority of them have made an online purchase at least once in their lives.
3. 71% of consumers prefer online shopping.
Brick-and-mortar stores and shops are losing their clientele due to social and ecommerce. Many customers enjoy online shopping more than driving to the local store and waiting in line to purchase what they need.
4. Shopify has more than half a million active customers.
Shopify is one of the largest ecommerce platforms. Its annual income is about $46 billion, social commerce revenue statistics tell us.
5. In 2018, there were 3,196 billion social media users.
That’s a hell of a lot potential customers! This number also represents a 42% increase in social media users in the last decade. Chances are that this figure will only grow in the years to come.
6. 35% of consumers abandon carts because the shop asks them to create an account, while 27% think the checkout process takes too long or is too complicated.
Online shops that add additional costs suffer. Most buyers are put off by the extra money they need to spend at checkout. Baymard Institute research says that 61% of shoppers abandon their carts due to these unnecessary expenses.
7. 71% of online shoppers will recommend the brand they bought on social media.
According to a recent social commerce report, this mouth-to-mouth promoting practice can help increase brand awareness. So, many brands and businesses strategize how to use social media to improve their image, generate higher brand engagement and provide exceptional customer service. These are, in essence, the goals of social commerce.
8. 52% of online and offline purchases were influenced by Facebook in 2015.
In 2014, Facebook generated only 16% of purchases. Today, 85% of all purchases come from Facebook, as it’s one of the most popular social media ecommerce tools.
9. Social media recommendations influence 23% of online consumers.
Many buyers believe in referrals and recommendations of influential social media moguls. Plenty of brands use Instagram influencers to promote their products. This marketing practice is very popular and effective nowadays.
10. 84% of US online buyers take a look at a social media website before purchasing.
Close to 90% of online consumers reach for social media reviews to guide them through making the right shopping decision. Customers using social commerce benefit from gaining insight into what is the best product they can find at an affordable price.
11. Customers referred from Facebook order $55 worth of goods on average.
Brands and businesses that market and promote their products through social commerce know that buyers won’t make impulse shopping decisions that will cost them a lot of money. So, they usually sell items not more expensive than a hundred dollars on social media, social media e commerce statistics say.
12. Social media posts with visual content have 104% more comments, 53% more likes, and 84% higher click-through rates.
Social commerce uses this visual social marketing strategy to grow more conversion rates, attract more consumers, and generate more traffic. Researchers proved that visual content generates emotional responses in viewers and leaves memorable impressions in their minds.
Social marketers make the best of this fact by creating and promoting pictures of their products on social media.
13. According to social commerce statistics of 2020, Social media posts with no more than 80 characters engage more users.
Posts longer than 80 characters drive 34% of users’ engagement, while shorter ones engage 32% more users.
The golden rule of social media commerce posts.
They should be concise and stick to the point.
The thing is:
Most users just skim through their feed. So, marketers don’t have a lot of time to catch the eye of their potential clients. They have to make it memorable, short, enticing, and readable.
14. The average value of orders from Twitter is $46.29.
A lot of online consumers trust Twitter when it comes to making a purchase decision. So, the Twitter ads’ click-through rate is between 1% and 3%. Brands promote and sell their products on the platform to attract consumers who are very straightforward in expressing their opinions and preferences.
15. 75% of Instagrammers visited a website or took a similar user action after encountering an Instagram ad, social commerce trends show.
Since they appeared in 2013, Instagram stories, collection, carousel, and photo ads have been helping brands and businesses advertise their products and reach a large number of consumers.
Check this out:
35% of adult Americans use Instagram, so more than 500,000 brands are using this platform for both promotion and sales. Most Instagram advertisements offer different call-to-action options and customer poles to boost sales and customer engagement.
16. The average worth of products for consumers referred from Insta is $65.
This statistic shows that the average value of items purchased from Instagram referrals is 19% larger in comparison to Twitter’s order percentage. So, naturally, the majority of brands opt for Instagram, social e commerce statistics say.
17. The average order worth for consumers referred from YouTube is $37.63.
YouTube is a powerful social commerce tool, with over a billion users. Nowadays, YouTube consumers access the platform predominantly on their mobile devices. Researchers say that video content published on YouTube converts at 1.16%. Also, the average order value on Pinterest is $58.95, $66.75 on Polyvore, and $52.96 on Reddit.
Social Media User Demographics and Social Commerce Stats
18. In a 2018 January survey, 56% of interviewees said they look for holiday shopping inputs on Facebook.
Facebook proved to be the most trustworthy social media platform for product referrals and shopping inspiration during the holiday season in the US.
19. 87% of users turn to social media for help in making a shopping decision.
This high percentage of consumers looking for shopping insights from social media networks brings large profits to social commerce.
As it turns out:
30% of the respondents would make their purchases directly through social media. That’s why 40% of brands generate their sales and boost consumer engagement through social commerce.
In 2018, some of the top social commerce companies, including YouTube, Coca-Cola, Samsung, and McDonald’s, used Instagram and Facebook to promote their products and increase sales.
20. In 2018, most US consumers showed reluctance to make purchases through social media platforms.
At that time, only 18% of respondents bought goods directly through social networks. Ecommerce was more popular with Americans than social commerce predominantly because of security concerns.
21. As of 2019, 51% of internet users aged 16-24 used social media to browse and discover brands globally.
Out of these respondents, 28% said that they found interesting brands by skimming the news feed and ads on social networks, social commerce statistics in 2019 confirm.
22. In February 2019, nearly eight in ten US shoppers turned to Amazon for online shopping guidance.
Almost 79% of interviewees started their product search on this popular e-retail platform.
23. As of October 2018, 23% of US internet users said Facebook was the leading digital source that influenced their shopping decision.
According to the same survey, only 3% of interviewees said that Twitter influenced their decision to make a purchase.
24. As of January 2019, 42.9% of worldwide respondents aged 55 to 64 had never made an online purchase.
This global statistic proves that the elderly are still reluctant to trust social media ads or sales to make their purchases.
29.3% of people aged 25 to 34 were more likely to shop on social media platforms.
25. More than 50% of Gen-Z and Millennials’ fashion purchases are inspired by social media, social commerce use statistics reveal.
Younger Americans spend a lot of time browsing social media. A large portion of the Gen Zero and Millennial population follow Facebook or Instagram pages that advertise apparel and fashion. So, it should come as no surprise that they get their fashion inspo through social media channels.
26. As of February 2019, 47% of Americans used Pinterest as a primary source for finding and shopping for products, social commerce statistics reveal.
Additionally, 15% of social media users took to Facebook, and 11% reached for Instagram to find items.
Social Commerce Revenue Stats
27. By 2021, ecommerce sales are projected to hit $4.5 trillion, social commerce growth statistics confirm.
This figure shows a massive growth from 2014 when sales reached $1.3 trillion. So, if you’re an e-tailer or plan on becoming one, don’t lose time.
Company Social Commerce Strategies
28. 86% of the top 25 companies use the Facebook Like Button.
Social networks e commerce statistics tell us the most popular social commerce features that can be used on the most popular e-commerce web pages by 25 best businesses are:
- Social Login – 82%
- Twitter Tweet Button – 86%
- Ratings & Reviews – 82%
- Product recommendations – 82%
29. 94% of social orders for the Sports and Recreation industry come from Facebook.
According to the same research, here are some of the percentages of orders from other industries originating from Facebook:
- Photography – 98%
- Jewelry & Watches – 92%
- Clothing & Apparel – 87%
- Web Design – 81%
- Pet Supplies – 94%
30. Nomorerack.com gets 35% of traffic from social media.
Here is the list of other US e-tailers and their share of social network traffic:
- Zappos – 10.16%
- Fab.com – 25%
- Nordstrom – 8.5%
- ShoeDazzle.com – 10.5%
31. 90% of e-tailers think digital coupons improve their offer personalization.
Digital coupons are an essential part of social commerce tactics, social commerce stats confirm. If a brand makes a relevant and well-targeted campaign, it can help them retain existing customers and win their loyalty.
Also, digital coupons are a great way to acquire new consumers. With good incentive, brands can attract customers who typically would not buy their product.
32. 86.8% of US marketers used Facebook in 2019.
The same research discovered that 66.5% of brands and businesses use Twitter as a primary tool for social commerce in 2020. Also, from 2016 until 2020, social commerce companies upped their usage of Instagram as a promotion and sales tool from 53.2% to 75.3%.
All things considered, the use of social media platforms to purchase, sell and promote brands and their products is growing by the day, social commerce statistics confirm.
Social media and ecommerce are becoming one to make online shopping more efficient, quick and simple.
So, marketers should think about the best social commerce strategy and tools to optimize sales and engage more potential clients as soon as possible.