Shopping through social media platforms, dubbed 'social commerce', is set to be worth $1.2 trillion (€1.06 trillion) by 2025, a new report by Accenture has found.
The current value of the global social commerce industry is $492 billion (€434.2 billion), however growth is expected to surge in the coming years, driven by Gen Z and Millennial social media users, who will account for 62% of global social commerce spend by 2025.
Accenture's report, Why Shopping’s Set for a Social Revolution, anticipates that for many consumers, the entire shopping experience, from product discovery to checkout, will take place on a social media platform.
