Shopping. For some, the word invokes dread. For others, it recalls fond memories of Sunday afternoons at the local mall with a best friend. Coronavirus and social distancing mandates have contributed to a surge in e-commerce and the subsequent decline of shopping malls. Still, humans are social creatures and miss the interaction of shopping with friends. Enter the latest social media sensation–social shopping.
Social shopping combines e-commerce with social media networking to augment real-life shopping experiences. Embedding e-commerce within social media is powerful because it allows customers to discover brands through social content and find products they usually wouldn’t search for on an e-commerce platform. Unlike window shopping in brick and mortar stores, e-commerce sites aren’t designed for casual experiences that can imitate offline activities. Instead, they require buyers to have a specific idea of what they’d like to purchase. Social shopping mimics the window shopping experience by granting the ability to peruse online shops with friends virtually.
Social shopping is one of the fastest-growing trends in social media today, and it’s projected to have an even more significant impact in 2021. Keep reading to discover some eye-opening stats, find out which platforms offer in-app shopping, and learn how you can make the most of this relatively new opportunity to amplify your brand.
Stats:
- In the U.S. last year, social commerce sales reached $22 billion and are estimated to reach $84 billion by 2024.
- More U.S. shoppers find new products on social media than they do on retailers’ websites, according to a November 2019 ViSenze survey.
- Social media referral traffic to online stores has grown more than 100% in the past two years, more than any other channel.
- This year, time spent on mobile devices is estimated to surpass time spent watching television.
- 30% of online shoppers say they would be likely to purchase from a social media network like Facebook, Pinterest, Instagram, or Snapchat.
- Social Media Messenger sales are massively outperforming the current ROI champion of email.
There’s An App For That!
- Facebook: Brands can create a customizable store that consumers can shop from via Facebook and make purchases without ever leaving the app.
- Instagram: The Reels tab makes it easier to discover short, fun videos from creators all over the world, with in-app advertising space for brands. The Shop tab gives people a way to connect with brands and gives personalized recommendations, as well as editors’ pics curated by the shop channel, shoppable videos, and new product collections
- Shoppable Pins on Pinterest: Over the past year, Pinterest has expanded its suite of in-app shopping tools to include product Pins and shoppable searches.
- Snapchat: Snapchat rolled out shoppable business profiles for a few notable brands. We won’t be surprised if it launches a marketplace page too.
- Shopify/Tik-Tok: Currently, e-commerce merchants can track user actions like a user browsing their page, registering on a website, adding items to their cart, placing an order, and completing the payment with the “TikTok pixel.”
- WhatsApp: Easily discover things to buy from your favorite business by tapping on the new shopping button at the top of chats.
Social Shopping & Your Brand
Social shopping has already come an incredibly long way since its inception at the beginning of the decade and has exploded in recent months as a result of the pandemic. And it’s only going to become more robust and more prevalent. Audiences across demographics are spending more time on their phones, consumers are expecting quick and easy solutions to every problem, and people are growing increasingly comfortable with sharing their lives on social media. Now, more than ever, people are looking to social media to fulfill their desire for connection and interaction while providing the ability to quickly and easily shop for goods and services.
Knowing that there’s an opportunity is one thing, but knowing how to implement it for your brand is another. Don’t put yourself at a disadvantage. Get your social shopping campaign started today, contact ed@mittcom.com for more information.
