Social commerce is global commercial phenomenon
The term "social commerce" refers to the "purchasing and selling that occurs on social media and other networking sites." Social commerce offers the particular advantage of engaging customers and enabling them to buy things inside their comfortable social media environment. According to Accenture, global social commerce is predicted to increase three times faster than conventional commerce, from $492 billion in 2021 to $1.2 trillion in 2022. Social commerce is one of the main e-commerce channels in Vietnam, owing to the population's high Internet and social media usage rates. In the third quarter of 2021, 20% of Vietnamese customers will use social commerce to make online purchases.