Social Commerce Forecast 2023

Gen Z, TikTok Shop, and Increased Spending per Buyer Drive Growth

Report by Jasmine Enberg  | UPDATED: Dec 22, 2023
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Executive Summary
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Executive Summary
The social commerce opportunity remains massive
Unpacking the nuanced and evolving social commerce market
Sources
Media Gallery
About This Report
Social commerce still has plenty of room to expand in the US. With discovery and inspiration as the key characteristics of social commerce, TikTok won’t be Amazon—but it will bring in new Gen Z shoppers.
Topics
Social Commerce
Digital Shoppers & Buyers
United States
Table of Contents
Executive Summary
The social commerce opportunity remains massive
Unpacking the nuanced and evolving social commerce market
Sources
Media Gallery

Social commerce is alive and well, but it’s getting harder to convert non-buyer social users into buyers. TikTok Shop will bring in new Gen Z shoppers, but most sales growth will come from increased spending among current buyers.

Key Question: What’s driving social commerce growth—and could TikTok Shop succeed?

KEY STAT: Annual social commerce sales per buyer will nearly double between 2023 and 2027.

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Table of Contents

  1. Executive Summary
  2. The social commerce opportunity remains massive
  1. Unpacking the nuanced and evolving social commerce market
  2. Sources
  1. Media Gallery

Charts in This Report

US Retail Social Commerce Sales, 2021-2027 (billions, % change, and % of total US ecommerce sales)US Social Buyers, 2021-2027 (millions, % change, and % of social network users)
US Social Network Users, by Generation, 2023-2027 (millions)Average Annual Retail Social Commerce Sales per Buyer, 2021-2027 (dollars and % change)
Social Networks Where US Adults Are Likely to Make Purchases Directly, Gen Z vs. Total, Q1 2023 (% of respondents)Facebook, Instagram, and TikTok Buyers, 2021-2027 (millions)
US Social Buyer Share, by Age, 2023 (% of total)US Social Buyers, by Platform, 2021-2027 (% of users on each platform)
Best Platform to Promote a Product Through an Influencer According to US Gen Z, 2021 & 2022 (% of respondents)US Unique Visitors to AliExpress, Shein, Temu, and Wish, April 2022-March 2023 (millions)
Where US Adults Start Their Online Product Searches, Gen Z* vs. Total, Q1 2023 (% of respondents)

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First Published on Oct 19, 2023

authors

Jasmine Enberg

Contributors

Oscar Bruce Jr.
Senior Forecasting Analyst
Sky Canaves
Senior Analyst, Retail & Ecommerce
Jennifer Merritt
Vice President, Content