The growth of digital commerce has accelerated and made a significant mark. According to data provided to Forbes by Comscore, internet commerce in the US alone reached $1.09 trillion in 2022– excluding the gross for travel categories.
However, according to Forbes, the high-ranking categories that made the most revenue were groceries, clothing and accessories, computers, electronics, furniture and appliances, and garments.
The two years of the Covid-19 pandemic— during which lockdowns occurred and only digital purchases were convenient— helped to increase digital sales to $300 billion.
Additionally, 2022 recorded a substantial increase and is known as the year when online ticket sales had a significant impact on e-commerce, says Comscore.
Social media platforms such as Instagram and Facebook have been expanding for the function of retail and brand-sponsored content, which has led to the growth of social commerce. Direct retail engagements on TikTok have also surged. Thus, Comscore concluded that social commerce is now playing a bigger role in the retail sector.