Brands are leveraging social media checkout and shopping integrations as tech-savvy consumers engage with social commerce more often.
Insider Intelligence’s Social Commerce 2021 report dives into top social commerce trends and strategies. You can purchase this report here.
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The immediacy and convenience of online shopping has led to massive growth in ecommerce-and social distancing and stay-at-home orders amid the coronavirus pandemic further propelled its popularity. According to an Insider Intelligence forecast, the average time spent per day with social networks increased from 56.23 minutes in 2019 to 65.44 minutes in 2020.
US retail social commerce sales will reach $36.09 billion in 2021.
The rise in ecommerce combined with the 16.4% growth in social media usage year-over-year encouraged companies to turn to influencer marketing and user generated content to promote brand awareness. And as brands continue to leverage social media checkout and shopping integrations, tech-savvy Millennials and Gen Zers, who are familiar with and motivated by influencer content, will likely engage with social commerce more often.
What is social commerce?
Social commerce falls under the larger ecommerce umbrella, and refers to when a consumer’s shopping experience occurs directly on a social media platform. It can also include clicking links on a social network that lead to a retailer’s product page with an immediate purchase option.
Social commerce marketing strategies for brands
No one marketing strategy is going to work for every brand-a social shopping experience for athleisure is going to look very different from a campaign for electronics. However, all brands can utilize influencers, consumer call to actions, and user generated content, to successfully compete in the social commerce market.
Pictured from left to right are creators: Emma Cortes, Jackie Aina, and Nabela Noor
Screenshots from Instagram; Holly Phan; Jackie Aina; Nabela Noor
Phrases such as “swipe up to purchase,” or “store link in bio,” have become extremely popular calls to action-pushing social media users to purchase the items or services they see advertised on their newsfeeds.
User-generated content has risen in importance for marketers-with TikTok videos and hashtag challenges providing value for brands. This viewer-friendly content combined with appropriate call to action steps has been a boon for advertisers and marketers alike. In addition to these organic opportunities, companies should keep influencers top of mind when planning their social commerce strategy.
In 2019, Instagram gave some influencers the ability to create shoppable posts using Checkout on Instagram, while Snapchat gave select top-tier influencers a “shop” button. And even TikTok has tapped the social commerce market-announcing its partnership with Shopify in November 2020.
According to an August 2019 GlobalWebIndex survey, 17% of internet users in the US and the UK said they were inspired to make a purchase in the past month because of an influencer or celebrity social media post. The response showed that influencers had as much sway over purchases as newsfeed ads (17%) and ads …read more
Source:: Business Insider