Uploaded on Aug 22, 2022
PPT on The Future of Shopping: Growth of Social Commerce.
The Future of Shopping: Growth of Social Commerce
THE FUTURE OF SHOPPING: GROWTH OF SOCIAL COMMERCE WHAT IS SOCIAL COMMERCE? Social commerce is a segment of ecommerce in which merchants sell products directly through social media platforms, allowing potential customers to interact with brands, browse goods and make purchases. Source: www.bigcommerce.com SOCIAL COMMERCE VS. ECOMMERCE Digital ads, social media content and other marketing strategies all act as top-of-the-funnel tactics to direct customers to the online store. Then, even after reaching the store, the customer must go through even more steps in the purchase journey — each of which poses the risk of losing their interest and a potential sale. Source: www.bigcommerce.com TOP SOCIAL COMMERCE PLATFORMS While Instagram and Facebook lead the way in social commerce functionalities, other social media sites such as Pinterest, TikTok and even Snapchat are also expanding their offerings. Since every platform serves a unique purpose and attracts a niche audience, each one offers comparative strengths that shape its approach to social commerce. Source: www.bigcommerce.com INSTAGRAM With 70% of shoppers looking to Instagram for product discovery and 1 billion active users, it’s safe to say that this is one of the most promising social commerce platforms on the market. Source: www.bigcommerce.com FACEBOOK In 2021, Facebook had nearly 3.45 billion monthly active users — needless to say, the 17-year-old platform holds huge potential for leveraging new audiences and scaling globally. Source: www.bigcommerce.com TIKTOK A newer player to the social commerce game, TikTok is becoming far more than just a short-form video-sharing app. Now with shoppable posts, livestream shopping capabilities and opportunities for influencer marketing, TikTok is a social commerce platform worth noting. Source: www.bigcommerce.com PINTEREST The great thing about Pinterest is that most users care far more about the content rather than the creator. Compared to platforms like Instagram and Facebook, where the influence of the user or brand may hold more weight, Pinterest allows merchants to focus more on putting out great products and less on building their personal reputation. Source: www.bigcommerce.com BENEFITS OF SOCIAL COMMERCE THERE ARE HUGE NUMBERS OF POTENTIAL CUSTOMERS ON SOCIAL MEDIA According to Statista, there were over 3.6 billion social media users globally in 2020, and this number is expected to reach 4.4 billion by 2025. With more of these users starting to shop through social media, this is a huge opportunity for you to get your products in front of new faces and grow your audience exponentially. Source: www.bigcommerce.com ENHANCED SOCIAL MEDIA PRESENCE AND BRAND AWARENESS Instead of keeping your social media and ecommerce site siloed, social commerce gives merchants the power to merge the two. This is a huge branding opportunity, allowing you to create brand awareness and stay top-of-mind to your customers through daily content. Source: www.bigcommerce.com
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