The continuous evolvement and updates of social media platforms have opened up a new market for both consumers and merchants. Adding the shop feature or using these platforms to sell your products is definitely one of the leading sources of revenue for small businesses, medium-sized businesses, and enterprises. According to a report by Accenture, global social commerce will grow three times faster than eCommerce. In terms of revenue, it will leap from $492 billion to a whopping $1.2 billion dollars. Gen Z and millennials, which are the two most vital sets of the target audience, spend an exorbitant amount of time on various social media apps, with at least 2 billion making purchases from these apps in 2021. Companies need to pay close attention to these statistics and advance their monthly revenue by selling on social media.
Social Commerce Will Rapidly Grow to Beat eCommerce
January 28, 2022