Scroll, shop, scroll: Social commerce to hit $1.2 trillion by 2025, expand in beauty industry
As the use of digital devices rises and more young people enter the beauty consumer space, Accenture's new report estimates social commerce will more than double by 2025.
The information technology company published a report in January on the international state of social commerce, with a survey of 10,000 social media users in China, India, Brazil, the US and the UK.
While beauty was one of the smaller social commerce categories, the report said e-commerce in the segment is expanding rapidly and is expected to “capture over 40% of digital spend on average for this category in key markets by 2025.”
Audrey Depraeter-Montacel, Accenture’s global beauty lead, said not only are companies across the world finding success with social commerce, but the sales medium is expanding to include more experiential and interactive options.