SOCIAL SHOPPING IS A NEW TREND

SOCIAL SHOPPING IS A NEW TREND

utilising social media to find and buy things the Covid-19 outbreak as consumers are spending more time at home browsing over their streams after being unable to visit stores or interact with others face-to-face due to worldwide lockdowns. In fact, 74% of customers claim that the epidemic has increased their reliance on social media as a source of shopping inspiration, while 70% say the same about email.

One of the market segments people say they use social media the most to purchase is apparel. Even though Western countries may still lag behind China in terms of increasing adoption, social shopping has established a global presence and is expected to expand in the coming year because to the dominance of social media powerhouses like Facebook, Insta, YouTube, and Snap Inc.

make significant investments in shopping-related capabilities and make profit from advanced functionality. Looking ahead, it is anticipated that social commerce sales in the US alone would increase from about $37 billion in 2021 to $56 billion in 2023 (this covers transactions of all goods and services agreed upon on social platforms regardless of the form of payment or completion). Global social commerce sales are anticipated to surpass $600 billion by 2027.

Because social media channels are being continuously enhanced by modern innovation, they are quickly replacing traditional methods of shopping and communicating with companies in several regions. IN fact, social commerce is already expanding rapidly in China, where amazing apps like WeChat offer users a wider range of services besides just online chat systems, and social media players like Douyin and Xiaohongshu have improved their ecommerce functionality.

This is true for in-app checkouts on social networking sites as well as transaction data on livestreams. Sales from online shopping in China are expected to reach $363 billion in 2021, up 35.5 percent over the previous year (this includes goods or services bought on social networks regardless of the method of payment or fulfilment). This is around ten times greater than the U.S commerce sales.

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