To market to their audiences, businesses have often switched to social media. With the continued Social commerce market size in India‘s growth in social media consumption and improvements in formats, companies can now expect frictionless social sales. Social commerce is known as this new possibility.
In social media. The way we communicate with each other and how we express ourselves has changed. On one social media platform or the other, half the world’s population is involved. Social media’s scope is practically unparalleled.
And this brings another massive opportunity for e-commerce. The retail and e-commerce industry has never had the chance to meet such a large global audience. The new and wildly rising trend among modern retailers is social commerce. Social commerce business models use it to engage their current and future audience and have made it another sales and revenue source.
Using social media to sell products online seems logical, and the next big trend in online shopping is social commerce. The future of social commerce looks to be a bright one with the strength of social media and the power of e-commerce.
Let’s take a look at what the future of social commerce and the trends to be watched for in 2021 will look like.
What is social commerce?
In the native social media experience, social commerce refers to buying or selling a product or service.
For instance, on Pinterest, rather than going to the brand’s website, users can browse and purchase Buyable Pins right from the Pinterest app or website.
Social commerce vs. ecommerce
Social commerce is a subset of e commerce. In an organic or paid social media update, online shoppers usually find a new product and then click through to the brand’s website to purchase.
Shoppers do not have to leave the social media platform for social business experiences to make a payment with Apple Pay, Google Pay, PayPal, or a credit card.
Why is social commerce important?
Social commerce for brands across markets is becoming a central piece of the e-commerce mix.
· 60 percent of Instagram users say on Instagram they find new items
· Facebook has about 1.79 billion active users a day.
· Around 42% of shoppers say they have made a social media purchase.
Most social commerce experiences are currently accessible on these sites through organic content. Still, paid opportunities are on the rise, such as the ability to purchase directly from paid posts on Instagram.
In 2021, social media and e-commerce are expected to become more intertwined. In the digital space, selling continues to be a priority and is rising faster than ever. It makes sense for brands to drive ads out across these platforms with social at the center of daily interactions to reach the essential audiences possible.
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Top social commerce sites
Here are the top social commerce platforms and how the shopping experience works on each of them.
Facebook has been paving the road for social commerce for a long time. It unveiled Facebook Shops earlier this year, its very own e-commerce platform that enables companies to build Facebook and Instagram storefronts.
Facebook Shops, including Facebook Marketplace, Instagram Shopping, Native Checkout, and Live Video Shopping, culminate in online shopping features launched over the years across both social platforms.
The launch of shops, according to Facebook, means that any vendor can put their business online and communicate with customers wherever and whenever it is convenient for them, regardless of their size or budget.
With more than 330 million active users each month, Twitter provides e-commerce brands with a massive potential audience.
Perhaps the most compelling feature of marketers’ Twitter ads is that in Cost-Per-Engagement, video ads can be up to 50% cheaper. Video Twitter ads are a perfect way to meet an audience that is already looking for video content on Twitter for brands in highly visual sectors, such as clothing, fitness, or beauty.
Buyable Pins on Pinterest streamline the shopping process for consumers who browse Pinterest ads by enabling them to pick directly from a retailer. A blue price tag appears on Buyable Pins, showing the user that it is purchasable via Pinterest.
Another great invention that could change social commerce is virtual reality (AR). Think about this: in their respective environments, a user will see how a product will look. In 2021, with both e-commerce and brick-and-mortar retailers adopting it to drive sales, social commerce will continue to grow. As social media grows, so will the definition of social commerce.