What is social commerce? Stats, examples, and tips 2021

Approximately 84% of online shoppers prefer to discover brands and products on social media before making a purchase. The rise of social shopping is on a spree. It’s more of a ‘shopportunity’ for brands since it can give both exclusive interaction and purchasing options at the same time on the same platform.

What is social commerce? Social commerce refers to the use of social media platforms in eCommerce transactions. Specifically, it is when retailers sell products directly through social networks: users have the ability to checkout directly from the platform, rather than be redirected to a separate site. In this sense, it differs from traditional social media marketing.

Stats, examples, and tips 2021:

73% of businesses prefer connecting with buyers over social media. 57% of small businesses, 84% of mid-market, and 85% of entrepreneurs currently sell on social media.

Here are some common social commerce platforms:

• Facebook shops: In May of 2020, Facebook announced its launch of Facebook Shops, a mobile-first shopping experience where retailers can create online stores for free.
• Instagram Reels: 70% of shopping enthusiasts turn to Instagram for product discovery. It’s no surprise, then, that every direct-to-consumer brand is currently running ads on Instagram.
• Google Shopping: Google Shopping is another effective mobile commerce platform that retailers should invest in. While Google Shopping is not technically an online marketplace, it still allows shoppers to browse a variety of products based on a query.

Some social commerce tips for brands to consider:

1. Create shoppable Pinterest Pins. When brands add product-rich pins to their websites, information from websites will automatically sync with product pins, inform shoppers about the drop in the price and remind them about the incomplete purchase.
2. Partner with micro-influencers and Youtubers. Around 40% of global shoppers say they have purchased products they have discovered on Youtube. Creating video content by collaborating with creators is an equally effective way to engage shoppers and feature products.
3. Grow community commerce with TikTok. Create relevant hashtags, ask viewers to follow them, and use them whenever while sharing content. It makes content trending and also helps form a group using the same hashtags, and increases brand awareness.

To learn more about the tactics of social commerce, read my blog.