Currently, more than 5 billion people use social media worldwide. By 2028, this number is expected to exceed 6 billion. Given the explosive growth in social media usage, social media platforms have increasingly facilitated social commerce (also known as “social selling”), allowing users to purchase directly through apps and social media platforms.
The social commerce market was worth over $492 billion in 2021 and is expected to grow significantly. By 2026, it could reach $2.9 trillion. Some of the drivers of this rapid growth include the widespread use of smartphones, improved social media shopping features, and the increasing number of people using social media.
This approach has grown in popularity due to interactivity and the ability of social media to connect brands with consumers in a more personal and direct way.
Given this huge business opportunity for marketing and sales, social commerce is now a key component of digital marketing. Businesses and entrepreneurs can leverage social media to advertise their products and services, engage with customers in real time, and create a seamless shopping experience using new shopping integration features and interactive digital experiences.
Selling on social media has become a fundamental aspect of digital marketing for most businesses.