socialWorld

What is social commerce?

Currently, more than 5 billion people use social media worldwide. By 2028, this number is expected to exceed 6 billion. Given the explosive growth in social media usage, social media platforms have increasingly facilitated social commerce (also known as “social selling”), allowing users to purchase directly through apps and social media platforms.

The social commerce market was worth over $492 billion in 2021 and is expected to grow significantly. By 2026, it could reach $2.9 trillion. Some of the drivers of this rapid growth include the widespread use of smartphones, improved social media shopping features, and the increasing number of people using social media.

This approach has grown in popularity due to interactivity and the ability of social media to connect brands with consumers in a more personal and direct way.

  • Features of social commerce:
  1. Platform Integration: Brands use platforms like Facebook, Instagram, Pinterest, and TikTok to promote and sell products.
  2. Visual content: Using attractive images and videos is essential to capture consumers' attention.
  3. Interaction and engagement: Users can interact with brands through comments, shares, and likes, fostering an active community.
  4. Recommendations and opinions: The opinions of other users influence purchasing decisions, as consumers trust the recommendations of their contacts.
  5. Ease of purchase: Platforms allow users to make purchases without leaving the social network, often with a single click.

 

  • Benefits of social commerce:
  1. Expanded reach: Brands can reach a wider audience through social media.
  2. Personalized experience: Ads and recommendations can be tailored to the user's interests and behaviors.
  3. Customer loyalty: Continuous interaction can help build stronger relationships between brands and consumers.

 

  • Challenges of social commerce:
  1. Intense competition: With so many brands vying for attention, it can be difficult to stand out.
  2. Algorithm changes: Changes to platform policies can affect the visibility of posts.
  3. Security and privacy: Concerns about data security and user privacy are becoming increasingly important.

Given this huge business opportunity for marketing and sales, social commerce is now a key component of digital marketing. Businesses and entrepreneurs can leverage social media to advertise their products and services, engage with customers in real time, and create a seamless shopping experience using new shopping integration features and interactive digital experiences.

Selling on social media has become a fundamental aspect of digital marketing for most businesses.

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