What is Social Commerce?
It is a subset of e commerce which involves social media. Social commerce sells products directly through social media networks. It’s an easier way for people to complete the purchase of products they want and need. At its core, it’s about making it easy for users to complete their purchase. The role of social media in e-commerce is constantly growing.
Shopping is, was and always will be a social experience. No wonder so many new social shopping trends have invaded the ecommerce universe in recent years. Consumers are on social media constantly, scrolling through posts from both friends and brands. Many have begun clicking on some of those brand posts and making purchases.
- Changing the face of the market.
- Cost effective method to build brands in the market.
- Reaching a larger target audience.
- Formation of social media content.
- Expands relationships with others who share your tastes.
- Offers group buying opportunities.
- Creates social shopping opportunities on social media platforms.
The New Online Shopping Evolution
Social commerce is becoming popular for brands. social media has become a sales platform for brands. Previously, platforms like Facebook, Pinterest, and Instagram were limited to commenting, liking and sharing, but users have begun to start buying on social sites as well. Consumers now log onto social media not only to connect with their friends and family but to inform, and make purchases. Nearly 25% of business owners are selling through Facebook and 40% are using social media as a whole to generate sales. Not only does social media influence what people buy through recommendations (23%), a fully 30% of consumers say they would make purchases through Pinterest, Instagram, Twitter, or Snapchat.
Most importantly, shoppers are given a direct link to the company’s website where they can finalize the purchase. Once a consumer enters the company’s website or opens their app, the potential to attract them further into the sales funnel is virtually limitless. They can select special offers such as coupons, share product demonstration videos, even offer free downloads. As consumers become more comfortable with the idea of social commerce, social media platforms are adapting.
Yes, it’s a new type of consumer “homebody shopaholic”. He or she likes shopping, but hates staying outside of their cozy apartment. We already see thousands of such people among Asos visitors. But homebody-shopaholics have all chances to accept lots of new adepts due to future improvements to social networks. Homebody shopaholics will be able to participate in their favourite pastime right in their native social network. They won’t even have to go out of its ranges to complete the purchase.
While there are certainly critics of this, there is no doubt that social media platforms are becoming sales platforms. A big part of this is creating interfaces that allow customers to make purchases and learn more about products while maintaining a seamless social media experience.