US Social Commerce Forecast 2024

Sales Spike Thanks to TikTok Shop as Amazon Partnerships Start to Reshape the Landscape

Report by Jasmine Enberg  | Dec 2, 2024
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Executive Summary
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Table of Contents
Executive Summary
TikTok Shop propels social commerce growth in 2024
Facebook is losing ground to both Instagram and TikTok
Amazon partnerships will drive future sales growth
Sources
Media Gallery
About This Report
This year, most buyer and sales growth will be driven by TikTok Shop, which will convert over 40% of TikTok users into buyers. Social commerce and retail media will converge as Amazon’s ad partnerships with the social platforms start to pack a punch.
Topics
Social Commerce
Digital Shoppers & Buyers
US
Table of Contents
Executive Summary
TikTok Shop propels social commerce growth in 2024
Facebook is losing ground to both Instagram and TikTok
Amazon partnerships will drive future sales growth
Sources
Media Gallery

US social commerce sales are set to spike in 2024, with TikTok Shop propelling both buyer and spending growth. Looking ahead, Amazon’s ad alliances with Meta, Snap, Pinterest, and TikTok will drive further sales, indicating that retail media and social commerce are starting to converge.

Key Question: What is the outlook for social commerce in the US in 2024 and beyond?

TikTok Will Convert Over 40% of US Users Into Buyers in 2024, Ahead of Facebook and Instagram (% of US users of each social network who make a purchase on the platform, 2022-2028)
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Key Stat: In 2024, for the first time, TikTok will have a higher percentage of US users who are buyers than any other platform, at 43.8%.

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Table of Contents

  1. Executive Summary
  2. TikTok Shop propels social commerce growth in 2024
  1. Facebook is losing ground to both Instagram and TikTok
  2. Amazon partnerships will drive future sales growth
  1. Sources
  2. Media Gallery

Charts in This Report

TikTok Will Convert Over 40% of US Users Into Buyers in 2024, Ahead of Facebook and Instagram (% of US users of each social network who make a purchase on the platform, 2022-2028)US Social Commerce Sales and Buyer Growth Will Tick Up in 2024 Thanks Largely to TikTok Shop (% change in US social commerce sales and social buyers, 2022-2028)
US Social Buyers Will Surpass 100 Million for the First Time in 2024 (millions of US social buyers and % of social network users, 2023-2028)TikTok Shoppers Are the Heaviest Buyers, With Roughly Half Buying at Least Monthly (% of US social shoppers, by platform, March 2024)
Facebook Remains in the Lead in US Social Buyers, but Instagram and TikTok Are Gaining Ground (millions of US social buyers, by platform, 2022-2028)US Facebook Shoppers Who Made a Purchase From Facebook Marketplace in the Past 12 Months, by Generation, March 2024 (% of respondents in each group)
Gen Z and Millennials Will Account for Over 70% of US Social Buyers Collectively in 2025 (% of total US social buyers, by generation, 2024 & 2025)US Social Commerce Sales Will Surpass $100 Billion in 2026 (billions in US social commerce sales, % change, and % of total retail ecommerce sales, 2022-2028)
US Adults Who Trust Tech/Media Companies and the US Government With Personal and Financial Data, May 2024 (% of respondents)Likelihood of US Social Media Users to Search on Social Platforms to Research a Product Before Making a Purchase, March 2024 (% of respondents)

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authors

Jasmine Enberg

Contributors

Rahul Chadha
Director, Report Editing
Nikolai Dineros
Oscar Orozco
Senior Director, Forecasting
Minda Smiley
Senior Analyst, Social Media
Matt Torpey
Senior Chart Editor
Paul Verna
VP, Content