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Australia’s social commerce market tipped to top $2.67 billion this year

Inside Retail

Australia’s social commerce industry is expected to register a 12.2 per cent growth this year reaching a market value of $2.67 Social commerce is defined as the use of social media and digital networks to facilitate transactions between customers and businesses. billion by 2028. billion by 2028.

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Deep dive: What social commerce looks like around the world

Inside Retail

Social commerce – shopping on social media platforms – is expected to reach US$1.2 It is growing three times faster than traditional e-commerce. McKinsey & Co stated in mid-2022 that social commerce comprised more than 13 per cent of China’s total e-commerce sales. trillion ($1.9

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RICE 2022: Social Commerce Success Hinges on Consistency and Friction-Free Shopping

Retail TouchPoints

Social commerce has quickly grown from a revolutionary idea to a mainstream concept, and the channel is expected to continue expanding to reach $1.2 The foundational lesson is that, while social commerce can be an outgrowth of a retailer’s traditional social media interactions, it’s both more time-sensitive and more time-consuming.

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Havas Study Highlights 5 Key Social Commerce Preferences of Gen Z and Millennials

Retail TouchPoints

It’s no secret that social commerce — that is, retail interactions that begin (and sometimes also end) on social media platforms — is big business. UK, France, Germany, India, Mexico and United Arab Emirates, and found that not only is Gen Next interested in social commerce, but most of them already are engaging in it.

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3 Ways to Benefit from the Inevitable Social Commerce Boom

Retail TouchPoints

Although social commerce sales in the U.S. are currently a mere one-tenth the size of China’s market, it is gaining traction nationwide. Here’s how you can learn from their experiences. . Tap into the creator economy . Instagram and TikTok are brimming with content creators who are dedicated to building their businesses.

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Don’t be Fooled, Meta isn’t Abandoning Social Commerce — and Here’s Why

Retail TouchPoints

Recent headlines about Meta ’s Instagram and Facebook doing away with shopping features on their platforms might appear to be a retreat in the social commerce wars. Social commerce sales in the U.S. Social commerce sales in the U.S. social network ad spending forecast by $16.21 billion.

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Shopify brings social commerce to Pinterest Australia

Inside Retail

Pinterest and Shopify will extend their partnership to a further 27 countries, including Australia, in a move expected to making social commerce easier on the platform. million merchants using Shopify can tap into the purchasing power of over 450 million Pinterest users by building thoughtful, targeted marketing campaigns.”.