Report Description

According to PayNXT360’s Q1 2022 Social Commerce Survey, social commerce industry in United States is expected to grow by 27.0% on annual basis to reach US$1,88,744.6 million in 2022.

The social commerce industry is expected to grow steadily over the forecast period, recording a CAGR of 22.8% during 2022-2028. The social commerce GMV in the country will increase from US$1,88,744.6 million in 2022 to reach US$6,27,398.4 million by 2028.

In the United States, consumers are increasingly seeking a personalized and custom experience online. This growing preference among consumers has resulted in the rise of the social commerce industry. In the last two years, social media platforms like Facebook, Twitter, Instagram, Pinterest, and WhatsApp, have seen many businesses adopting shopping and payment functions, thereby allowing consumers to buy products or services directly from the networking sites. This ability to purchase directly from social media platforms has created an opportunity for brands across the country to increase their conversion rates. For instance,

  • In 2021, Facebook, introduced Live Shopping Fridays, wherein the platform featured specific brands to sell products and services through live video streams and demos. Consumers were able to connect with the brands and ask questions in real-time. Moreover, they were also allowed to use a streamlined checkout process using the Shops feature launched by the company.

    Moreover, since the start of the global pandemic, the social commerce industry in the United States has attracted investment from private equity and venture capital firms. PayNXT360 expects the trend to continue from the short to medium-term perspective, as the social commerce market in the country continues to gain strong momentum over the next three to four years.

    Social commerce is expected to become a key growth driver by the overall e-commerce industry in the United States in 2022. While the industry has recorded significant growth ever since the global pandemic outbreak, the size of the market is still considered small compared to Asian markets such as China.

    An increasing number of brands are selling on social networking platforms to target a large consumer base


    Scope

    This report provides in-depth, data-centric analysis of social commerce in United States. Below is a summary of key market segments:

    United States Ecommerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators, 2019-2028

    United States Social Commerce Industry Market Size and Future Growth Dynamics by Key Performance Indicators, 2019-2028
  • United States Social Commerce Industry Market Size and Forecast by Retail Product Categories, 2019-2028
    ?--Clothing & Footwear
    ?--Beauty and Personal Care
    ?--Food & Grocery
    ?--Appliances and Electronics
    ?--Home Improvement
    ?--Others
  • United States Social Commerce Industry Market Size and Forecast by End Use Segment, 2019-2028
    ?--B2B
    ?--B2C
    ?--C2C
  • United States Social Commerce Industry Market Size and Forecast by End Use Device, 2019-2028
    ?--Mobile
    ?--Desktop
  • United States Social Commerce Industry Market Size and Forecast by Location, 2019-2028
    ?--Domestic
    ?--Cross Border
  • United States Social Commerce Industry Market Size and Forecast by Location, 2019-2028
    ?--Tier-1 Cities
    ?--Tier-2 Cities
    ?--Tier-3 Cities
  • United States Social Commerce Industry Market Size and Forecast by Payment Method, 2019-2028
    ?--Credit Card
    ?--Debit Card
    ?--Bank Transfer
    ?--Prepaid Card
    ?--Digital & Mobile Wallet
    ?--Other Digital Payment
    ?--Cash
  • United States Social Commerce Industry Market Size and Forecast by Consumer Demographics & Behaviour,2021
    ?--By Age
    ?--By Income Level
    ?--By Gender


    Reasons To Buy
  • In-depth Understanding of Social Commerce Market Dynamics: Understand market opportunities and key trends along with forecast (2019-2028).
  • Insights into Opportunity by end-use sectors – Get market dynamics by end-use sectors to assess emerging opportunity across various end-use sectors.
  • Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate social commerce strategy; assess market specific key trends, drivers, and risks in the industry.