Social Commerce is Estimated to Grow Three Times Faster Than Traditional Commerce
76%
Social commerce is estimated to grow three times faster than traditional commerce and this is the future of online retail. By 2025, it is predicted to double its figure by a $1.2 trillion market worldwide. In 2021, globally the percentage of people who prefer to purchase products in a Livestream event increased by 76%. All the social media platforms are planning to meet this growing demand for social commerce. Even Twitter has announced a new Twitter Shops feature that allows brands to showcase up to 50 products on their profiles.
$294M
As per the new MediaRadar report, in 2021, Peloton has spent $294 million on advertising across all platforms and a 300% YOY increase. But in 2022, the fitness company's ad strategy has changed and invested 22% to $47 million in Q1. The video remained the largest investment segment for the brand, where 64% directed to TV and 30% toward digital.
35%
At present, every business has been facing a big marketing challenge was to deliver exceptional service to their customers, as their needs always keep on changing. In recent studies, it is revealed that 35% of marketing professionals stated that delivering outstanding customer experiences is the major marketing challenge and 36% say they are willing to adapt to the new circumstances when raised.
23.8%
Twitter has seen a sudden decline in the US users, which is pulled down by 0.5%, hitting 57.5 million when compared to the prior year 57.8 million. Despite the user’s decline, Twitter's US ad revenue ramp up by 23.8% to hit $3.01 billion in 2022 and as a share of social network ad spending it would make up 4.0% this year. The user worldwide is still rising and will grow 1.5% to 368.1 million users.
4.0%
As per eMarketers predicts, in the U.S, Instagram and Facebook platforms have been facing diverging futures. While Instagram's user base would rise by 4.0% this year to hit 128.3 million, on the other hand, Facebook's would decline by 0.8% to 178.3 million. By 2026, Facebook user figures would remain at 177.6 million users whereas Instagram's total users are still behind Facebook with 148.1 million people.