Social commerce: the new darling of e-commerce in the era of digital transformation

Since the global outbreak of the COVID-19 pandemic , the accelerated digital transformation of the retail industry and changes in consumer consumption habits have driven social media platforms such as Facebook , Instagram and Snapchat to continuously engage in e-commerce cooperation and vigorously promote social commerce .

Today, social commerce has finally gained a foothold in the e-commerce field , and social media platforms have gradually become a vast blue ocean for the next stage of development of e-commerce.

Foreign media reported that social media platforms expect social commerce revenue to reach $600 billion in the next six years, and each platform hopes to get a piece of the pie and find its own development space.

For most e-commerce companies , the opportunities brought by social commerce are undoubtedly being realized . Brands and retailers have started to try to cooperate between new platforms and invest corresponding media budgets to expand sales channels.

As the digital transformation of society continues to develop, e-commerce sellers are able to quickly enter the market through social commerce , which is very different from the traditional direct-to-consumer sales method . In the future , social commerce may become the only sales channel for e-commerce , so brands and retailers must respond immediately to avoid being left behind.

At any time , social media is a key tool for brands to measure customer opinions, adapt to future trends, and improve operations. Diverse social media platforms provide e-commerce sellers with an excellent way to interact with users , and sellers can also receive instant feedback on store offers and products.

Social media is not exclusive to young people, the same is true for older population groups. Survey data shows that in the United States, about 20% of people aged 30-49 have TikTok accounts, while for people aged 50-64, the figure is 14%. Obviously, these are all potential consumer groups .

In addition, by comparing the consumption time generated by different consumption methods online and offline, 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, 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 be greatly improved .

Social e-commerce

drainage

Cross-border e-commerce market