E-commerce on Instagram - statistics & facts
Instagram's journey has been nothing short of extraordinary. What began as a visual-centric platform has now blossomed into a vibrant ecosystem that encompasses entertainment, e-commerce, and influencer marketing.
As of 2024, Instagram proudly hosted a staggering 1.4 billion users worldwide, with projections indicating a 26 percent growth over the next four years. Its appeal is particularly strong among Gen Z and millennials, who constitute six out of ten users. Known for their tech-savviness and penchant for online shopping, these generational cohorts eagerly engage with shopping posts, constantly on the lookout for the next big thing.
Conversely, TikTok, a Chinese-origin platform celebrated for its captivating audiovisual content, has notably increased its influence in recent years, standing as a formidable competitor among younger demographics. In the United States, TikTok has outpaced Instagram, seizing the crown as the top social network for shopping and uncovering new products.
As of 2024, Instagram proudly hosted a staggering 1.4 billion users worldwide, with projections indicating a 26 percent growth over the next four years. Its appeal is particularly strong among Gen Z and millennials, who constitute six out of ten users. Known for their tech-savviness and penchant for online shopping, these generational cohorts eagerly engage with shopping posts, constantly on the lookout for the next big thing.
From social network to marketplace
In October 2017, Instagram launched Instagram Shopping, effectively turning the platform into a dynamic e-commerce channel. This feature enables brands to seamlessly promote and sell products through organic posts. Since its inception, Instagram has consistently enhanced and expanded this functionality to bolster e-commerce efforts. In 2024, Instagram's social commerce revenue is estimated to exceed 37 billion U.S. dollars. Instagram is not just a social platform; it is a global marketplace where trends are born, products are discovered, and connections are forged in innovative ways.Youth reigns in IG commerce
Instagram ranks as the second most used social network for shopping globally, surpassed only by Facebook. However, among younger users, Instagram outpaces its peers, establishing itself as the predominant platform for shopping. This highlights the pivotal role of young consumers in shaping Instagram's dominance in social commerce.Conversely, TikTok, a Chinese-origin platform celebrated for its captivating audiovisual content, has notably increased its influence in recent years, standing as a formidable competitor among younger demographics. In the United States, TikTok has outpaced Instagram, seizing the crown as the top social network for shopping and uncovering new products.
