Social commerce is booming in the United States and Brazil with expected growth rates soaring and sizeable investments from massive global businesses.
These revelations surface from new research by ResearchAndMarkets.com, which has shone a light on the various factors bolstering the channel’s prosperity in American markets.
Up, up, up
Social commerce’s growth is rocketing at impressive rates of 18% YoY in the US and 25.7% YoY in Brazil.
For the US, the channel is expected to reach a market value of $73 billion in 2024. In Brazil, it’s forecasted to grow from $2.58 billion in 2023 to $10.65 billion by 2029.
