The average US social buyer will spend $518 via this channel in 2022, up 26.9% from last year. Annual spend will increase by $419 per buyer over the next three years, reaching $937 in 2025.
Beyond the chart: The number of social buyers is also increasing in the US, just not as quickly. This year, growth will slow to the single digits, but it’ll be enough to push the buyer base past the 100 million mark. More than half of social network users will buy via those platforms come 2023.
The majority are doing so on Facebook, Instagram, and—increasingly—TikTok. Nearly 16 million will also make a purchase through Pinterest, which is working to personalize its commerce experience.
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Read yesterday’s Chart of the Day here.
Methodology: Estimates are based on the analysis of data from other research firms and government agencies, historical trends, reported and estimated revenues from major online retailers and social network companies, consumer online buying trends and macro-level economic conditions.