Before the pandemic, social commerce was an enticing prospect for the most forward-thinking businesses. However, the right conditions for a social shopping explosion were created by the rising social media consumption paired with stay-at-home demands, which aren’t going away anytime soon! According to eMarketer, social commerce will be worth $80 billion by 2025. So it is moving forward towards the way of huge e-commerce expansion.
Before the epidemic, 80% of customers were already utilizing social media marketing to discover new businesses and investigate items. Many businesses during this time realized that allowing these customers to buy the products directly from their social media accounts makes more sense. After all, going to a website is an extra step in your conversion funnel that could lead to a leak. Particularly on mobile, where cart abandonment is common.
Most social media platforms now provide in-app purchasing, including live video, and are seeking to expand their offerings to meet the increased demand. However, the most popular are Instagram, Facebook, and Pinterest. TikTok, Twitter, and YouTube are also on the rise.
E-commerce is unlikely to be replaced anytime soon by social commerce. However, you shouldn’t create a shopping experience depending on your industry without considering it. Setting up a Facebook Shop or an Instagram Shop is more beneficial if you offer things to individuals. Alternatively, Product Pins on Pinterest also work. Also, experimenting with shopper-friendly topics or even advertisements can help generate leads! Your customers will be able to see your products in context and order them with only a few taps. It generates an excellent consumer purchasing experience when individuals shop directly from social media. As a result, it’s fair to believe that social media platforms are the future of online buying!