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Social platforms refined their social commerce strategies. Social platforms like TikTok, Pinterest, and Instagram are figuring out how they can capitalize on growing social commerce sales in the US, which will reach $68.92 billion this year and continue to grow by double digits through 2026, per our forecast. Despite a potential ban, TikTok is full-steam ahead when it comes to social commerce.

TikTok is using creator payouts to boost Shop adoption: The platform is offering some influencers cash incentives for reaching sales or livestream goals.

This year, US retail social commerce sales will reach $82.82 billion, marking a 23.5% YoY increase, per our September 2023 forecast. What it means:. A broader range of ad formats. TikTok is capitalizing on its position as an emerging search engine by experimenting with new features and ad formats. In September, it tested a Google and Wikipedia integration in its search results.

TikTok Shop is driving social commerce sales. Key stat: TikTok Shop sold 68.1% of social shopping gross merchandise value (GMV) in February 2024, per the report. Livestream shopping app Whatnot has captured 31% of GMV, while the combined GMV of Instagram Checkout, Facebook Shop, and Flip App amounted to less than 1%.

Livestreaming made TikTok鈥檚 sister app Douyin a retail success in China, where we forecast shoppers will spend $234.75 billion on livestreaming social commerce in 2023, accounting for 45.4% of the country鈥檚 social commerce sales.

On today鈥檚 podcast episode, we discuss how AI is shaping internet search, what social commerce will look like in two years鈥�, how hotels are planning for shifting travelers expectations, a new approach to combating retail theft, the origins of London, and more. Tune in to the discussion with Senior Director of Podcasts and host Marcus Johnson, Vice President of Content Suzy Davidkhanian, Principal Analyst Bill Fisher, and Senior Analyst Carina Perkins.

. #9: Social commerce. What fueled interest: TikTok Shop鈥檚 major push into US social commerce鈥攚hich saw it attract $100 million in Black Friday sales鈥攄rew attention to the historically slow-growing sector. But it鈥檚 still a nascent one: Consumers report lower trust in social commerce, with many staying on the sidelines.

Douyin, TikTok's Chinese sibling, is about to become China鈥檚 largest social platform. It's also crashing the country鈥檚 ecommerce party. Already the fourth largest online shopping platform by sales, its market share is rapidly approaching JD.com's.

It has a vulnerable target in Lunchables and Capri Sun, which saw sales fall in Q2. MrBeast, KSI, and Paul each have rabid fan bases that are eager to buy whatever it is that they鈥檙e selling, which should serve the brand well in the short term. But its long-term success depends on the quality of the product. Go further: Read our Creator Economy Explained report.

What to look for in the TikTok ban court case: Oral arguments began yesterday in a battle that will determine TikTok鈥檚 future.

The pandemic ecommerce boom that drove online sales is over. But marketplaces will continue to expand their share of US retail ecommerce, contributing almost 40% of the $588 billion in US online sales growth that we forecast over the next five years.

Our take: Creo鈥檚 launch aligns with a clear trend of marketers consolidating influencer work with larger, full-service partners that can link creator content with actual sales. By anchoring influencer marketing in a system like Omni, OMG is positioning itself to meet rising expectations around ROI and accountability in the space. But it鈥檚 not alone.

In 2023, the company reached online net sales of $8.8 billion, according to ECDB data, ahead of H&M ($4.1 billion) and Zara ($2.9 billion). Shein and Temu accounted for all the growth in fast-fashion mobile app downloads in 2023, per Sensor Tower. It has faced a backlash over its environmental and social credentials.

Daigou sales rose 23% YoY in the first six months of 2024. This is compared with a 5% decline in luxury brand sales in China in the same period, per The Wall Street Journal鈥攁 trend which could dampen the appeal of full-price sellers like Mytheresa. Our take: The timing may be off for Mytheresa鈥檚 China push, but as a long-term play, it makes perfect sense.

Mcommerce continues to defy the slump in online sales as people turn to their smartphones for savings and social media transforms Gen Z buying habits.

Stores still dominate sales鈥攂耻迟 social commerce is on the rise. The bulk of UK beauty purchases still happen in-store. Despite strong growth in beauty ecommerce, just 16.7% of sales will take place online in 2024, per our latest forecast. That means beauty is still a digital laggard when compared with other categories such as textiles, clothing, and footwear (31.4%) and household goods (30.1%).

Social commerce is picking up steam to become a major commerce channel. In the US, sales via social commerce are on track to exceed $100 billion by 2026, fueled by increasing buyers and spend-per-buyer, particularly on TikTok Shop. Amazon has partnered with social platforms, seeking to ease the path to purchase for products discovered on social that can be fulfilled by the company.

Sales are quickly approaching $100 billion. Gen Z鈥檚 influence on social media habits, new commerce technologies from TikTok, and rising annual spending by buyers are the main factors driving growth. And with users now spending just shy of 2 hours on social media per day, there is plenty of room for brands and users to squeeze more sales.

The grand final of this year鈥檚 Eurovision Song Contest will take place in Liverpool, UK, on May 13. Attracting a Super Bowl-sized audience, tourists, and viewing parties, the competition鈥檚 global reach will provide marketers and retailers with a notable opportunity to drive brand awareness and sales.

TikTok World unleashes a slew of updates: The video platform taps creators and AI to court new ad dollars and keep apace with Meta.

The news: Amazon鈥檚 palm-scanning point-of-sale (POS) device launched an age verification function that lets customers purchase alcohol. The feature will debut at Denver MLB stadium Coors Field. How it works: Age verification complements Amazon One鈥檚 existing infrastructure. Customers can go to the Amazon One website and upload the front and back of their government ID along with a selfie.