Social Commerce Has Yet To Take Hold
Only 30% of Americans have made a purchase from a social media site, according to a June 2020 survey by eMarketer.
Of those who have engaged in social commerce, Facebook is the most popular channel with 18.3% having made a purchase from that channel.
11.1% bought something on Instagram, so if you combine Facebook and Instagram, Zuckerberg commands 29.4% of the social commerce pie.
Only 2.9% have bought from Pinterest, 1.4% from TikTok, and 1% from Snapchat. 2.5% have bought from a non-of-the-above social channel.
It is tough to understand why, after all these years, there is still such reluctance to make transactions on social media sites.
One factor might be simply that it takes a lot of time to build consumer trust in handing over a credit card number. It took quite a long time for people to feel comfortable enough to initially buy via early ecommerce platforms like Amazon and eBay, after all.
Another factor may be extreme mistrust of whether social media sites will adequately safeguard users data. And what data is more important to you than your credit card number?
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