Today Onyx by JP Morgan released a report on web3 for social commerce. Social commerce is valued at over $1 trillion with 600% growth expected by 2030. It explores how web3 could address some pain points in the social shopping journey.
Looking at stats elsewhere, social shipping is clearly booming with Facebook taking the lion’s share. Another report shows over a billion people visit Facebook Marketplace monthly, as much as 40% of Facebook’s monthly active user base of 3 billion.
Even more notable, 491 million visit Facebook purely for Facebook Marketplace. The New York Times recently wrote about Generation Z shoppers who otherwise use Instagram and TikTok for social media, but visit Facebook Marketplace rather than eBay or Craigs List.
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