The Potential of Social Commerce
With the rapid growth of social media in the past few years we are seeing a new trend of purchasing online being affected by social influencers whether that be people we already know like our friends and relatives or even strangers. This result to the mushrooming of social commerce in the respective well-known social platforms like Facebook, Instagram, Twitter, Pinterest and etc. So, what is social commerce?
In brief, social commerce is the marriage between social media and e-commerce that supports social interaction and user recommendations. It has become a platform collectively gather various kind of audiences from different background, those who are perceived to “be in the know”, can have a great impact on the direction of the group’s actions. It’s through their shared interest and experiences that ties them together and may eventually brings forth the purchasing funnel of certain product brand or offered services.
You might be wondering why we’re talking about social commerce since many brands still make the majority of their sales out of a storefront or pop-up shop. You may also have came across that majority of the retail sales still happened in-store at your local area. Nevertheless, we are moving rapidly away from the days when a retail store could ignore existence of the Internet potential since today’s consumers are looking for multichannel shopping and brand experiences. This means successful retailers have to create a cohesive and consistent brand presence across all of the platforms where customers can find them. Growing your online retail channels can ultimately boosts your sales in
the long run.
Social commerce brings us up to the modern era of shopping paradise. Facebook Marketplace was launch in summer 2018 serves as a convenient place for people to discover, buy and sell items. Users can find what they’re looking for by filtering their results by location, category and price. A list of popular categories are made available such as clothing & accessories, electronics, deals, entertainment, housing, home & garden, hobbies, family and etc. Instagram, another social platform for people to view beautiful images and videos, is now having their shoppable posts giving online retailers the ability to tag items in organic posts so when tapped, brings up a new page which leads to a checkout. Buyable pins and shopping carts are added into Pinterest to make it easier for online users to buy multiple products from different suppliers at one go.
Statistic shows that 84% of shoppers review at least one social media site before purchasing (so it makes sense to sell where they’re going to research). Though social commerce might be still in its infancy, it is no doubt making a huge impact on the world of eCommerce and marketing. It generates user-generated content and reviews simply through general engagement, each and every view, comment, and like is an additional positive or negative mention of your brand.