Insider Intelligence expected US ecommerce sales to cross $1 trillion for the first time in 2022. Before the pandemic, eCommerce reaching this milestone was not expected until 2024.
The pandemic has boosted eCommerce as people prefer the convenience of online shopping, and this trend is likely to continue post-pandemic.
One popular eCommerce topic has been social commerce. Social commerce falls under the larger eCommerce umbrella and refers to when someone shops directly on a social media platform. For example, if a consumer sees a post on Instagram about a new pair of shoes they would like to buy, they can purchase the shoes directly on Instagram if the seller has Instagram’s Shop function set up.
Insider Intelligence predicts social commerce will be a $79.64 billion industry in the US by 2025.
Here are a few Social Commerce Trends to know:
A micro-influencer has a social media following that is typically between 1,000, and 100,000 followers. Micro-influencers have better engagement rates. This may be due to having a more targeted audience. Small businesses find that micro-influencers can help them reach more people, increase sales, and balance ad budgets more effectively.
Multi-sensory Social Media Shopping
Brands will invest in bringing sensory elements to digital experiences, from gamification to fully immersive digital malls. For example, the Metaverse 2022 Fashion Week offers an immersive shopping experience where buying virtual clothing in Decentraland and receiving a physical twin shipped to your real wardrobe.
User-Generated Content Still an Essential Marketing Strategy
Sharing user-generated content related to your brand on social media can help build brand awareness and trust. Studies show that 90% of consumers find it beneficial and trust it more than promotional emails or ads.
For example, Parachute encourages their audience to use the hashtag #MyParachuteHome in content featuring the company’s products. Parachute then repurposes customers’ photos into promotional content, not just social media posts.
Instant Gratification is the Norm
With the convenience of various communication channels such as phone, email, chat, and social media, people now anticipate an immediate response to their inquiries and issues. To address this, it's crucial to expand your customer service team or implement self-help options like FAQs or chatbots, ensuring that assistance and solutions are readily available. Embrace feedback with an open mindset and consider ways to utilize it for improvement.
Would you be interested in exploring the benefits of social commerce platforms?
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