Why is email out performing Social Media?

With Email accounts increasing worldwide and email marketing showing up to 40 times more effective than Facebook/Twitter etc, how is it that technologies often don’t follow the industry expected road map?
We all hate SPAM, and unnecessary emails, and work on solutions to filter them, but why are so many sent? Around 10 years ago, many industry experts predicted the beginning of the demise of email, yet 10 years on it is still the most effective digital tool for marketing. Many years ago, a similar death was predicated for SMS and yet 25 years on it is still a huge form of communication…

So, it seems that basically, we can develop, innovate, and plan, but ultimately the users at large will decide what tools they wish to use, often bucking predicted trends.

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Why marketers keep sending emails