What: Predictions claim that one of China’s biggest exports in 2023 will be its social e-commerce phenomenon as TikTok, YouTube and Amazon.com among others begin rolling out features that blend online sharing and shopping.

Why it is important: There’s early evidence that selling goods over live social networking is beginning to take hold outside of China, with viewers enjoying interacting with celebrities and so-called influencers; the ultimate goal is clicks to buy.

Live online shopping revenue will help offset shrinking marketing budgets. U.S. social media advertising spending, which had been growing at around 30% a year, is set to slow to about 12% on average over the next three years, to reach USD 114 billion in 2025, according to data portal Statista. By contrast, consultancy McKinsey projects U.S. social media e-commerce sales will increase 20% annually over the same span, to USD 80 billion.

Social commerce to go viral in 2023