The research has found that 24% of British businesses are already selling via social media platforms, however, only 21% of Scottish businesses are utilising social media as a sales market, which stands significantly lower than the global average of 35%.

Paypal also found that those that already sell on social say that 38% of their sales volume comes via social media.

The study found that the number of UK businesses selling through social media and apps is expected to double within the next six months.

This means that unless Scottish businesses take steps to monopolise on social media sales, they will miss out on vital sales.

PayPal’s annual Commerce Index, which surveys the latest trends in mobile commerce across the globe, found an additional one in five UK businesses (22%) have plans to sell via social in future.

However, of the 11 countries surveyed by PayPal, the UK was found to have the greatest consumer concerns about security when purchasing on mobile, with key barriers including a fear of having financial information linked to social media account.

The study found that “Ensuring the privacy of customer data” ranked as the top priority for business (at 34%) and “Ensuring the security of ourIT/technology system” came a close second (33%).

Nicola Longfield, senior director of small and medium businesses at PayPal UK, said: “As we continue to lead increasingly busy lives relying on their smartphones more than ever to help us make the most of our time, it’s important that Scottish businesses are in a position to cater for this. Our data reveals a substantial rise in the number of businesses that plan to sell through social media over the coming six months, capturing a consumer’s attention in the very place they go to for inspiration.

“However, the UK falls some way behind the global average for selling via social, something which must be addressed if businesses are to compete and make the most of their selling potential. Security remains key for consumers shopping on social and companies of all sizes must address these fears, offering mobile-friendly payment options like PayPal to help instil trust from shoppers and ensure purchases are made securely.”