The Growth Opportunity for Social Commerce
E-Commerce exploded in popularity and sales volume during the pandemic. While the growth has slowed, e-commerce shopping habits are still very much here to stay and combined with social media, give creative businesses an opportunity to grow in new ways.
Technology has made it easier to sell online, and social commerce is on the rise. As a result, there are now an estimated 12 to 24 million e-commerce stores globally, and almost 60% of internet users buy online each week. These powerful numbers should be considered in how brands can grow their business.
What is social commerce? Social commerce is the intersection of eCommerce and social media. It creates a seamless in-app path to purchase products and services. It is not a competitor to eCommerce but an extension of it.
An example of our eCommerce client, KRB NYC’s Instagram shop page.
One of the most fundamental qualities of social media is its ability to connect with target consumers. 72 percent of millennials say that if a brand engages with them on social networks, they are more likely to become a loyal customer.
In many ways, social media platforms level the playing field between small and big businesses, which is why more brands should consider investing time and marketing budget in social commerce. In fact, social commerce is multi-faceted in how you discover and interact with brands. Shoppers can use social commerce to
Discover new brands.
Research products.
Interact with the company online, including customer support.
Purchase items.
Social commerce also eliminates friction points for mobile purchases. For example, we launched New York City design destination KRB NYC’s website a few months ago. Before we launched, the team would post images of their inventory on IG, and the call to action would be to direct message for more information. By integrating Shopify with Instagram, now shoppers can purchase straight from the app to create a seamless shopping experience while increasing order conversion rates for KRB.
Learn more about our E-commerce and Social Media services here.
