Social e-commerce sales in the United States will reach $71.6 billion in 24 years, with TikTok and other platforms leading the growth

It is learned that according to foreign media reports a few days ago, Emarketer predicts that US social e-commerce sales will increase by 26% to US$71.6 billion in 2024, and emerging platforms such as TikTok will become the main driving force.

It is understood that social e-commerce in the United States performed strongly during the shopping season, and it is expected that the number of social e-commerce buyers will exceed 100 million in 2024, with total sales exceeding US$70 billion. Emarketer pointed out that the rapid rise of TikTok Shop has contributed significantly to market growth. It has continued to attract users since entering the United States in September 2023. During this year's Black Friday event, TikTok Shop's single-day sales exceeded US$100 million, a three-fold increase year-on-year.

Analysis shows that TikTok Shop has attracted a large number of consumers through live events and price advantages. According to TikTok statistics, the number of its monthly live events in the United States has almost doubled in the past year. In addition, during the "Black Friday Cyber ​​Monday" period, the number of shoppers attracted by TikTok Shop increased by 165% year-on-year. Similar to platforms such as Temu, TikTok Shop adopts a third-party supplier model, some of which are shipped from China, and remains competitive in terms of price and delivery efficiency.

In addition to TikTok, other social platforms are also growing in the field of social commerce. Emarketer predicts that Instagram will add 3.9 million new buyers in 2024, while Facebook and Pinterest will add 2.6 million and 1.1 million new buyers respectively. However, TikTok will add 11.9 million new buyers, higher than other platforms.

Despite the promising prospects, challenges remain. Emarketer pointed out that users' enthusiasm for emerging platforms may gradually fade, and it may become more difficult to convert ordinary users into buyers. In addition, tariff policies may affect the prices of some goods shipped from China, putting pressure on the competitiveness of platforms. Overall, the rapid development of social e-commerce in the United States is inseparable from low-price strategies and platform innovation. In the fierce market competition, maintaining user stickiness and stable growth will become the key.

Author ✎Rayna/

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