Welcome to the bustling world of social commerce! If you’re new to the term, social commerce refers to the use of social media platforms for e-commerce transactions. You might have noticed the increased number of social media-based stores and product placements on your Facebook, Instagram, or Twitter feeds.
The growth of social commerce is unsurprising, given the widespread use of social media platforms globally. The future of shopping is set to take another exciting turn, with increasing integration of social commerce into our daily lives.
In this blog post, we explore the potential of social commerce for 2023 and how digital marketers and businesses with social media pages can leverage on the trend.
1. The Rise of Social Commerce
Social commerce is not a foreign concept. However, the past few years have seen its meteoric rise as more consumers flock to social media platforms to purchase products. In 2023, social commerce is expected to account for a significant percentage of global retail spending. A survey conducted by Kleiner Perkins (2018) revealed that 78% of American consumers say they discover new products on Facebook and Instagram, while 55% have made purchases through the same platforms. This trend will continue to grow into 2023, and businesses that do not leverage on social commerce will miss out on a significant customer base.
2. Personalized Social Shopping
Shopping preferences will become even more personalized than ever, with brands leveraging on social media analytics to curate personalized experiences for individual customers. With data on customers’ shopping and browsing history, brands can recommend products that are relevant to their interests, needs, and budget. This will improve customer experience, as customers no longer have to sift through irrelevant products to find what they want. Customers will receive tailored recommendations from their preferred brands, resulting in more sales for businesses.
3. Augmented Reality
Augmented reality (AR) is gaining traction, and social commerce is expected to benefit from the trend. AR can be used to create interactive experiences for customers, allowing them to try-on products virtually. Brands can integrate AR technology into their social media stores, enabling customers to sample products in 3D and make informed purchases. This technological innovation is expected to influence shopping habits in 2023, resulting in increased sales for businesses with social media pages.
4. Influencer Marketing
Influencers will continue to play a crucial role in social commerce in 2023. Influencer marketing has exploded in recent years, and brands have already started leveraging on social media personalities to drive revenue and increase brand awareness. Influencers have proven to be effective in reaching audiences and driving conversions. In 2023, influencers will remain a crucial component of social commerce, as they provide brand visibility to their vast followership and drive targeted sales.
5. Mobile Shopping Dominance
With the continued rise of mobile usage, shoppers will continue to make purchases on their mobile devices, driving the shift towards mobile shopping. More customers will turn to social media platforms to complete their purchases. As a result, social media platforms will have to integrate more features that allow for seamless mobile shopping, like in-app checkout functionalities. Mobile shopping is expected to facilitate growth in social commerce, and businesses that optimize their social media stores for mobile shopping will have a competitive advantage.
Social commerce is an exciting wave that has taken e-commerce by storm, offering businesses and digital marketers a vast customer base, personalized shopping experiences, augmented reality, and influencer marketing. The integration of social commerce into social media platforms has made shopping more comfortable and convenient for consumers. With the continued rise of social commerce in 2023, businesses with social media pages must stay ahead of the trends to build better customer relationships, foster brand loyalty, and drive sales.
For businesses looking to capitalize on this trend and set up their e-commerce ventures seamlessly, consider seeking expert guidance in navigating this evolving landscape. Partnering with professionals, like EZMetrics, who specialize in digital marketing can help you harness the full potential of social commerce, providing your customers with enhanced shopping experiences that foster brand loyalty and drive sales. Don’t wait – get ahead in the social commerce game by exploring your options today.