According to a report by market tracking firm eMarketer, an estimated 56 million US residents will make at least one purchase on Facebook this year, giving the social media giant a 22.3 % market share in this country.
Another 32 million people will shop on Instagram – another platform owned by Facebook – and give the platform a 12.9% market share. In third place is the photo-sharing network Pinterest, with a forecast of 13.9 million shoppers and a 5.6% market share.
According to eMarketer, sales from US social commerce will grow 35.8% to $36.62 billion this year. This is lower than the 39% growth rate during the period of the COVID-19 pandemic raging in 2020.
eMarketer reports are based on sales of products or services directly, or through links to retailers from social networks including Facebook, Instagram, Pinterest, TikTok, WeChat, and a few others. . But the report does not include travel tickets, event fees, tips, gifts, money transfer fees, betting activities and food service.
In addition, despite the strong growth rate, the US is still behind China in terms of commerce on social platforms. About 424 million Chinese are expected to make purchases on domestic platforms like WeChat this year.
eMarketer senior analyst Jasmine Enberg said that US advertisers can look to China to visualize the development roadmap of social commerce. Because many trends will promote the development of this type of commerce, such as shopping directly on the video (Livestream) originating from the country of billions of people.
However, the expert noted that the social and e-commerce environment in the US is much more fragmented than in China. Consumers’ behavior and attitudes in the two countries towards digital shopping, consumption on social networks, privacy, and online payment are also different. Therefore, advertisers should not learn from stereotypes.