The global e-commerce market is growing strongly, and social commerce may become a new trend

According to the latest data from Digital Commerce 360, in 2020, when the COVID-19 pandemic ravaged the world, global consumers' online shopping spending reached US$4.29 trillion, up from US$3.46 trillion in the previous year.

According to data released by the U.S. Department of Commerce on Thursday, online shopping sales in the U.S. reached $211.7 billion in the second quarter of this year, a slight increase of 9.3% from $193.62 billion in the same period last year. According to relevant analysis , nearly $1 in every $5 of retail purchases in the second quarter came from digital orders.

The pandemic has greatly promoted the development of e-commerce . In 2020, many offline stores were closed, and people had to shop online , which led to many people making their first online purchases in their lives .

Global e-commerce market sales increased by 24.1% year-on-year, an increase from the 17.9% growth in 2019, with most of the sales coming from e-commerce platforms.

Some industry insiders believe that in today's consumer transformation period, the real world and the digital world will be more intertwined . E-commerce uses live broadcasting, recorded broadcasting and other methods to build a bridge of communication with customers through the screen , thus providing consumers with a new shopping experience of "the world is like a neighborhood". With the development of 5G, this integration will surely go on steadily and far.

For example, e-commerce companies can live broadcast offline events on their social media accounts to make it easier for fans who cannot attend the events in person to participate . Live broadcast hosts can release and introduce new products , disclose the latest store information, and launch new events through live broadcasts to continuously stimulate consumers' desire to shop .

These methods can allow shoppers to experience the joy of shopping even without leaving their homes , and the convenience of e-commerce will eventually attract them to patronize online stores or independent websites .

By comparing the consumption time generated by different online and offline consumption methods, it is not difficult to find that if the consumption behavior occurs on social media , the time required for consumers to complete the purchase is significantly shorter . The shortened consumption time stimulates the increase in consumption behavior. At the same time, the extremely short consumption time also avoids customer loss caused by consumers being attracted by similar competing products during the consumption process.

In the future, as social commerce continues to mature and leverages the rapid development of the world's e-commerce market, the tools and related functions that social media can provide to e-commerce sellers will continue to develop and improve , and the work efficiency and consumer participation of online e-commerce will also be greatly improved .

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