PwC Strategy& director Sam Farnfield set the scene, telling delegates one in every £5 spent online is now spent via social shopping and commerce – products and services sold through social media channels – and that by 2033, social commerce "will be 10 times the size of Amazon today".

Farnfield said that while social commerce presented "a really huge opportunity", retailers and brands more generally have been "pretty slow" to respond to the opportunity.

"When we looked at the top 25 retailers by revenue in the UK, only three had a dedicated TikTok shop," he said. "In fact, some of the most successful brands on TikTok may not have one."

Citing an Expedia study, Eleanor Scott, PwC Strategy& partner, reminded delegates almost 80% of people rank social media as a top influence on their travel decisions.

However, she warned there was still quite a significant disconnect between where people are being influenced and where they go to book their travel. "Where you get that influence and where you have to look can be quite a disconnected journey," she said. "That is starting to change, though."

She highlighted easyJet holidays as a brand "doing a great job amplifying its marketing campaigns on social media in a way that really resonates with their target customers", most notably its Big Orange Sale.

Another was TourRadar, which allows users to scroll through video – like they would on TikTok – and then linking through that video to the itinerary, the travel experience and the booking, "a social media experience".

"Social commerce is in the early stages in travel, but it's something I'm sure we'll see develop over the coming years," Scott added.

Rick Jones, PwCUK's UK hospitality, sports and leisure sector leader and corporate finance partner, from a retail and brand perspective, the industry was at an earlier, "more nascent" stage. "We're in the foothills," he said.

But he stressed: "Social commerce and the visuals, the direct approach it allows, is something we can probably expect to see actually transform the travel industry. S-commerce, which I believe is an untapped opportunity, will become increasingly prevalent in the sector. It could be a real area of change."

'Two distinct audiences'

Speaking during a later panel session, Tui managing director UK and Ireland Neil Swanson said Tui expected to see social commerce continue to grow as online and direct bookers transition from using the operator's website to its app – and that retail would increasingly stand alone from there.

Swanson said two distinct audiences were emerging as a result; people who want a face-to-face interaction, and people using digital channels and migrating to apps.

"What you see in there is that people are moving from online into the app, and the retail piece is staying in the retail piece," he said, revealing Tui had seen a resurgence in retail demand following the pandemic and that was still a "core group of customers" seeking a more personal touch.

He said growth, though, was increasingly coming via app traffic, and a rise in social and people using social for holiday research and inspiration. "Social commerce will continue to grow," he added.