Social Commerce: a new paradigm for online shopping
Social commerce is what happens when brands combine e-commerce and social media.
Shoppers today are looking to Facebook, Twitter, and Instagram to decide what to buy online. Social media platforms are capitalizing on this trend by adding new direct response advertising buttons such as “shop now” that encourage users to take action.
Facebook, for example, recently improved the mobile shopping experience by allowing consumers to make purchases directly through the platform instead of being redirected to the retailer’s website (F-commerce). When a customer buys your product, they either type their credit card information directly into Facebook or choose to store their data for faster purchases in the future. Consumers are turning to brands’ social pages to learn about their products, which indicates the potential value of social commerce. Not convinced? Let us make a case for why your business must care about social commerce.
Five key benefits of social commerce for business
1. It makes online shopping more social
Shopping Malls may be becoming obsolete, but that doesn’t mean consumers want a solitary shopping experience. Consumers group up with their family and friends and influenced by social media posts and pictures about specific brand products.
2. It reduces friction in the buying process
Positive user experience is the key to repeat business. Consumers remember brands that make purchasing quick, easy, and pleasing. By removing the extra step of leaving their preferred social network to go to your website and buy a product, you can dramatically improve the e-commerce experience for your audience.
3. Social e-commerce revenue is real
The impact of Social e-commerce on Global Economy is phenomenal. Social e-commerce revenue has increased from $5 billion in 2011 to $75 billion in 2019. This is growing at a tremendous pace.
4. It allows you to access a focus group of millions
Not only does social commerce expedite the transaction experience, but it can also give you immediate feedback about your products.
Consumers use social media to discuss and review products already. If something you’re selling isn’t working, you’ll know right away and can provide personalized customer service through the platform. Use the feedback to do more of what is working and to improve on what’s not.
5. Social e-commerce is the future of online shopping
Young people are using social media more than ever, and research shows that social platforms inspire purchasing decisions. The top five purchases among 18- to 34-year-olds who use social media to browse for new products are clothing and fashion (66 percent), gifts (61 percent), home decor (58 percent), food and drink (58 percent), and accessories (57 percent), reports Marketing Week.
Quantamix Solutions is tracking the developments in this field and developing uses cases with the help of brands and collaborators which will have immediate business value to small e-commerce retailers.
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