U.S Social Commerce would Generate $79.6 Billion by 2025
10%
In order to meet the customer needs Google has led the expansion of new features and services that let marketers engage more consumers with visual and immersive content. As per eMarketer forecast, in the U.S retail sales would ramp up from 5.5% to 10% by 2025. Mobile commerce would nearly double its share of the total U.S.
390,000
US Bureau of Labor Statistics stated that due to an increase in US employment, advertising and public relations lost 2,400 jobs in May. On the other hand, the US economy added 390,000 jobs in the last month. Ad industry employment has been slowing down for a bit and in April & may it has added 300 advertising jobs, which is relatively low when compared to March was 1,300 jobs.
94.1 M
In 2022, Facebook's business is plateauing on the other hand, in the US, TikTok is the third-largest social network and its global ad revenue has reached $11.64 billion and has 94.1 million US monthly users. In the US, adult TikTok users nearly spend 46 minutes per day on the platform and the remaining platforms YouTube, Facebook, Instagram, Snapchat, and Twitter fall behind..
61%
A survey has been conducted and revealed that 39% of all US consumers made a purchase on social media and prefer to do so, 90% of consumers are aware of brand pages and only 10% avoid brands on social media pages. But 38% of consumers say they haven’t made a purchase directly on a social media platform due to the lack of trust in the security of their payment information. 61% of the consumers aged between 25 to 34 are likely to purchase on social media only.
$79.6B
This week Twitter has launched product drops that alert consumers to build excitement for limited-edition. As per eMarketer predictions, U.S social commerce would generate $79.6 billion by 2025. A study by Pymnts.com and Scalefast revealed that product drops are on-demand among younger shoppers where 60% of millennials and Gen Z consumers reveal that they have participated in a sales event in the prior month.