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Gen Z and Millennials are expected to drive the growth of social commerce.

Jan 05 2022

Gen Z and Millennials are expected to drive the growth of social commerce. According to an Accenture study, the global social commerce industry (which describes a person’s entire shopping experience from product discovery to checkout) is expected to grow three times as fast as traditional ecommerce to become worth $1.2 trillion by 2025. Gen Z and Millennials will drive this growth and account for more than half (62%) of global social commerce spend by 2025. YPulse research has been tracking young consumers’ adoption of social commerce for years, and their interest in social shopping and shoppable content increased in 2021. The Accenture study found that clothing, consumer electronics, and home decor are expected to make up the highest number of social commerce purchases globally by 2025. Social commerce is booming in China compared to the U.S. and U.K., with the study finding that eight out of 10 social media users in China use social commerce to make purchases for a given category, while the majority of those in the U.S. and U.K. have yet to make a social commerce purchase. (Yahoo!)