What is Social Commerce?
We’re glad you asked!
You may have noticed Instagram, Facebook, and other social media platforms have added a shopping feature to their applications in recent years. Or perhaps you noticed some of your favorite local stores went virtual during the pandemic and began to sell their products live on social media.
When online media and social media are used for the buying and selling of products, this is known as social commerce.
Or, shopping through social networks.
Social commerce has become increasingly popular in recent years with the rise of social media. Sellers using social media is not a new phenomenon but it’s more important now than ever. Online sales made up 21.3% of total retail sales in 2020, a 6% increase from 2018. It can be assumed this number will continue to grow. If you’re a seller considering social commerce, it’s a great time to begin.
Why use social commerce?
Imagine your customer base could be anyone anywhere in the world. Your reach would be wider than ever, your audience gathered from across the internet. Expanding to social media means entering the social commerce market and likely growing because of it.
While the transition may seem daunting, companies like Liveshelf are here to help. With experts in social trends and marketing strategy, we can help expand your customer base with a live shopping campaign! Online buying and selling sites combined with a well-executed social media strategy can be invaluable to your brand.
Facebook Marketplace has 1 billion users and 130 million Instagram users click on shopping posts every month. By selling directly on social media, there’s no need for companies to try to direct traffic to their own websites through affiliate links and influencer marketing programs.
With social commerce, the entertainment and purchase are one and the same – at least they are here on LiveShelf. Instead of forcing an interested user to click off of the site they’re already on and enter a new one, LiveShelf customers can make their purchase instantly with a single click while watching a live show.
- Social commerce is the buying and selling of products on social media platforms.
- It’s widely practiced on all major social media sites and offers thousands of potential customers. As social commerce evolves, more streamlined methods of selling live have emerged. Some of the top brands and retailers in the world such as KKW Beauty, Nordstrom, and Petco are seeing the potential of selling products live similar to QVC but using the technology in a way that’s fresh and original. As a result, they’re seeing massive success.
- Companies that participate in social commerce can expand their brand beyond their initial audience to anyone in the world.
- ¼ of retail sales are now conducted online.
- Anyone can participate in social commerce! Small businesses, companies that want to grow their reach, mom and pops shops, and even individual users can be a part of this expanding market.
- You can join too! Selling on social media is a great way to grow. If you’re not sure where to start, we’re here to help. Click the link to start now!