The Rise Of Social Commerce And Why You Should Pay Attention

The Rise Of Social Commerce And Why You Should Pay Attention

The Rise Of Social Commerce And Why You Should Pay Attention

Updated on: 31 March 2022

The Rise Of Social Commerce And Why You Should Pay Attention

The COVID-19 pandemic has served as a catalyst that accelerated digitalisation and the growth of social media to unprecedented heights. One of the emerging trends is social commerce. With this relatively new online shopping experience, people can seamlessly buy various products and interact directly with their favorite brands while spending time on their preferred social media platforms.

With social commerce, the whole shopping experience remains all in one place, from product discovery to checkout. To give you a better idea, imagine yourself browsing through your feed as usual, and you stumble upon a striking pair of kicks or a neat piece of tech. Purchasing whatever product catches your eye can all be done in a snap, and it all happens right in the app. No redirects or external links are involved. After that, you go back on your merry scrolling journey without missing a beat. Of course, there is more to social commerce than this, so here are a few more reasons to adopt this marketing trend for 2022 and beyond.

1. Makes shopping a social experience

Social commerce can be seen as a substitute for the social aspect of going out with friends and family for retail therapy at the mall, and it is arguably the next best thing given today’s current climate. Compared to shopping on retail or e-commerce sites, shopping on social media makes the whole experience much more interactive. Consumers can quickly consult their peers on their purchase decisions, show off their new items after hitting checkout and review comments from other shoppers on the platform.

2. Removes friction in the shopping process

Completing a purchase is as easy as can be in social commerce. When people find something they like, they can instantly hit checkout or ‘add to cart’ since everything is already there on the app, from the products to the payment system. This matters since every mouse click is a chance for potential customers to change their minds. Thus, if the process is too long before they reach checkout, starting from clicking on an ad, going to the site, adding to the cart, and filling out their credit details, there are plenty of opportunities for them to lose interest and back out completing their order.

3. There is much profit to be made

Researchers forecast that social commerce e-sales will surpass USD$735 billion in the next three years. In addition, around 81 percent of online shoppers discover and research products on Facebook and Instagram, with 48 percent of Pinterest users prioritising shopping on the platform. Hence, if you want your brand to get a piece of those earnings, it is time to get more out of your SNS accounts besides pushing social media marketing campaigns by bringing your goods to where your customers spend most of their time.

4. It is where the modern-gen crowd like to shop

If your target audience is between 18 to 34, most are already online and looking to shop on their preferred platforms. For instance, in 2019, about 48 percent of internet users in the USA have experienced purchasing on social media. 27 percent of those in the demographic that has not yet tried expressed interest in doing so soon.

5. Provides instant focus groups

Another advantage of social commerce is that it offers an excellent way for brands to collect feedback. Your catalog of products is on display for everyone to review and discuss together. You can instantly know what they like or dislike about your offerings. Since you are already on the platform, you can also consider engaging with your community to get their input on product development and future releases directly. This helps you get a better picture of what your customers are willing to buy, and it also forms a more personal connection that fosters increased brand loyalty.

Conclusion

Although social commerce is making waves now and well into the future, it is likely to be just a single piece that can further improve a brand’s digital marketing puzzle. Nonetheless, it offers much potential to increase your bottom line. And since social commerce is still in its infancy, now is the best time to jump in and start creating a robust strategy that gets you ahead of the competition. Social media has become the modern mall of the internet age, so don’t wait up to set up shop!