When the pandemic hit the world, everyone became more frequent on social media. People of different age groups use social media because every type of content is available on social media. Observing the habits of people using social media, online buying, and selling is becoming more prominent on social media platforms like Facebook, Instagram, Twitter, and Pinterest have become more favored among e-commerce businesses. Indeed social media is a trend, but are these platforms will be the future of e-commerce? Let’s find out the changes in customers’ behavior that may push social platforms to become the next big thing.
The Uprise of E-commerce
Traditional year-over-year increases suggested that this would normally have taken four to six years to achieve.
The evolving technology has driven the rise of E-commerce. Global circumstances like pandemics have also risen the e-commerce industry. In 2020 early may the number of e-commerce transactions reached $82.5 billion, and the number shows a 77% increase from 2019. United parcel service Inc. achieved 13% growth in its income in the month of June 2020 and home deliveries increased by 60% during the same time of year. Specialist predicts online shopping more than $476 billion by the end of 2024.
Changes in Shopping Behaviors
As we all know the habit of people have changed, and the protocol of social distancing and quarantine has changed the customer’s shopping behavior. The growth of online shopping for essential items increased by 35%. These include groceries, medicines, household supplies, etc. The expected growth of skin care products, clothes, jewelry, and other discretionary items exceeded 15%. As consumer behavior is changed, people do not like to stand in long queues at supermarkets. Many prefer home deliveries. Many people like to buy local products after seeing the economy crash in the country.
Social Commerce: Why Is It So Important?
As an e-commerce merchant and marketer, you may understand the importance of social media channels to attract your target audience, bring more consumers, and expand the business via branding. Social commerce brings e-commerce functionality to various social media platforms. If a user is happy with your services and products they can openly share their opinions via social media and it can make your product go viral.
Social media channels like Instagram and Facebook enable people to make their business accounts that let buyers view your products without leaving the platform. How convenient it is for customers to place an order in just a few minutes after seeing your product. Sometimes people buy products unintentionally as they randomly scroll through social media.
Pinterest is another attractive channel and it has buyable pins that enable users to buy the product without leaving the platform. According to Pinterest, 93% of pinners use the platform to purchase items. Then, 87% of them have completed the purchase after seeing a product they’re interested in.
The Future of Social Commerce
From the above data and details we can say that the globe is active on social media, many e-commerce businesses have already started using social media to target their customers both existing customers and potential ones too. The future of social commerce seems to be promising after seeing the power of social media channels and their impact on people. Let’s find out how can you sell effectively via social media:
Videos and Live Streaming
All social media channels have features of video posts and stories. Many E-commerce businesses have already started using apps like TikTok to market their product. Some people use Snapchat stories, and Instagram reels to advertise their products. Live streaming is also becoming more popular to connect with audiences and showcase the products live and answer their questions directly.
The restriction of staying at home has pushed many retailers to sell online. One way of selling your product is through chatbots. This method is convenient for customers to purchase the products and even easier to offer customer support for your dear customer. You can easily set up Facebook messenger bots in just 30 minutes or less.
Influencers are playing a big role in social media marketing. People follow their favorite influencers, and they can help you get your product recognized and generate more sales. You can find influencers who can promote the relevant products to your nice via social media tools.
With the evolving technology and global circumstances, the future of e-commerce via social media platforms seems to be bright. Therefore e-commerce businesses need to adopt new trends like social media. E-commerce is not getting affected but e-commerce with social media is getting bigger.
Also read: Should You Add Whatsapp Chat Magento 2 Extension to Your Store?