Instagram is providing social shopping to additional businesses, including its own community of influencers, as social commerce maintains its pandemic-fueled momentum. And Newegg is mastering the art of the pivot, having piloted a unique business model with a platform that directly connects suppliers and consumers. All this, Today in Data.
Data:
2011: The year Newegg launched a marketplace model where other sellers accessed its eCommerce platform.
$186B: Amount of social commerce sales in China in 2019.
102%: YOY increase in unique visitors Newegg achieved in its new business model pilot.
90%: Share of business decision-makers who said digital commerce will become their most important sales channel within one to three years.
80: Number of brands that Sephora says it has put onto Instagram checkout.
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