A new study by Accenture has revealed that global shopping via social media platforms is set to grow three times as fast as traditional e-commerce as brands continue to increase investment in social media marketing and advertising campaigns.

The study Why Shopping's Set of a Social Revolution, surveyed 10,053 social media users across the UK, US, China, India and Brazil and found that social commerce will eventually account for 17% of all e-commerce spending by 2025. With the market for online social commerce set to grow from $492 billion to $1.2 trillion by 2025, growth is predicted to be driven primarily by Gen Z and Millennial users who will account for 62% of global social commerce spend.

The report found that 64% of social media users surveyed made a social commerce purchase in 2021. A social commerce purchase in this instance refers to the entire shopping experience, from product discovery to checkout, taking place on a social media platform. 

In addition, Accenture revealed that clothing will be the top social commerce category by 2025 (18% of all social commerce), followed by consumer electronics (13%) and home décor (7%). Beauty and personal care is predicted to quickly grow and capture more than 40% of digital spend on average for this category in key markets by 2025. 

Where social buyers users will buy from:

• 59% said they are more likely to purchase from small and medium-sized businesses through social commerce than when shopping through e-commerce websites. 
• 44% are more likely to buy a brand that they have not previously encountered.
• 63% said they are more likely to buy from the same seller again. 

Oliver Wright, Global Consumer Goods and Services Lead at Accenture added: "Getting social commerce right will require creators, resellers and brands to bring their products and services where the consumer is, and will be, rather than the other way around. It means working together within a dynamic ecosystem of platforms, marketplaces, social media and influencers to share data, insights and capabilities to deliver the right incentives and best consumer experience across an integrated digital marketplace."

Read the full report here.