Social Commerce will grow three times faster than traditional ecommerce

64% of social networks users claim to have made a purchase through the social commerce in the last year, which is almost 2.000 million social buyers worldwide.

Specifically, according to the report by Accenture Why Shopping’s Set for Social Revolution, the World Social Commerce Sector will grow three times faster than traditional electronic commerce, moving from 492.Current 000 million dollars up to 1.2 billion dollars, which is equivalent to 17% of all expenditure on electronic commerce.This growth is expected to be promoted by users of the social networks of the Z generation and the Millennials generation, which will represent 62% of the global spending in Social Commerce by 2025.

Purchase experience in social networks

In the social commerce all the experience of purchase of a person takes place on a social media platform."Pandemia showed how much people use social networks as a starting point for everything that does online: news, entertainment and communication," according to Robin Murdoch, global leader of the Software Industry and Accenture Platforms.«The constant increase in time dedicated to social networks reflects how essential these platforms are in our daily lives.They are remodeling the way people buy and sell, which provides platforms and brands for new opportunities for user experiences and income sources."

Trust, main barrier to adoption

Although this paradigm is important for large companies, individuals and small brands can also benefit from the social commerce.In this sense, 59% of social buyers said that they are more likely to support SMEs through social trade that when they buy on the websites.Of course, half of the users of social networks indicate that they are worried that social trade purchases are not protected or not properly reimburse, which makes trust is the greatest barrier to their adoption, just as it wasFor electronic commerce in its beginnings.

«Aquellos que aún no han utilizado el comercio social señalan que una de las razones que les frena es su falta de confianza en la autenticidad de los vendedores sociales, mientras que los usuarios activos del comercio social señalan las políticas de devoluciones, reembolsos y cambios como un área de mejora", destaca Oliver Wright, líder global de Bienes y Servicios de Consumo de Accenture. «La confianza es un problema que tardará en superarse, pero los vendedores que se centren en estas áreas estarán mejor posicionados para aumentar su cuota de mercado".

On the other hand, the Accenture report indicates that by 2025 the largest number of social trade purchases worldwide is expected in clothing (18%), consumption electronics (13%) and home decoration (7%).Fresh food and snacks also represent a large category of products (13%), although sales are almost exclusive to China.Beauty and personal care are expected to be lower in terms of total social trade sales, quickly win e -commerce land and capture more than 40% of average digital expenditure for this category in key markets by 2025.

Source: IT Reseller