Over the past few years, social commerce trends have emerged as undeniable methods for the Ecommerce sector, and this trend is only expected to accelerate going forward. Given that 4.59 billion individuals, or 57% of the world’s population, are active social media users, numerous hours per week are devoted to checking social media feeds. As a result, it became crucial for businesses to be omnipresent, especially on social media, if they were to make any headway in the marketplace.
In light of the dramatic shift in user reaction, social commerce provides an essential definition of how Ecommerce is conducted by shortening the length of the buying journey. By 2025, it is expected that the retail earnings from social commerce in the United States will have reached almost $80 billion.
Read on to learn about the top social commerce trends currently ruling the industry and are expected to do so for the foreseeable future.
The Use of Conversational Chatbots to Drive Sales Growth
Chatbots, which use artificial intelligence, have given companies a cost and sales advantage in recent years. With a CAGR of 23.5% between 2020 and 2026, the size of the Chatbot Market is expected to expand from $2.9 billion in 2020 to $10.5 billion by 2026. Chatbots allow businesses to serve clients without having to employ a human agent. It can offer recommendations based on clients’ choices, provide images of products, and even contact a human for help. Chatbots are becoming increasingly popular because customers are drawn to firms that respond to their inquiries quickly and accurately.
Visual Shopfronts Revolutionizing Consumer Behavior
Instagram is revolutionizing consumer behavior by providing users with enticing visuals of products, user illustrations of product use, and user feedback. Users are attempting to convert their feed inspiration into real-world purchases. Instagram data shows that 70 percent of shoppers use the app to find new brands and products to buy.
Shoppers may browse and purchase products directly from Instagram’s visual shopfront, accessible from anywhere within the app. Brands may easily organize their merchandise according to common themes with the help of the platform’s flexible configuration options. Additionally, tagging the objects with their descriptions makes them easily discoverable. Brands can promote their products in both the feed and the stories. This feature allows Users to gain a deeper understanding of the product.
Live Streaming Boosts Conversion Rates Tenfold Over Traditional E-Commerce
Regardless of industry, size, or technical prowess, live streaming is becoming an increasingly accessible sales channel. Live commerce integrates live streaming and e-commerce through social media platforms. When watching a Facebook Live video, viewers can interact with brands in real time and make purchases based on their responses. Live streaming is a great engagement tool that seamlessly accelerates the journey from awareness to purchase. Companies report conversion rates near 30%—ten times greater than conventional e-commerce.
Live Streaming has exploded in China, whereas it is still in its infancy in the United States. In just three years, China’s livestream selling market went from $3 billion to $171 billion. It is predicted that by 2024, the live stream market in the United States will be worth $35 billion.
Collaboration With Micro-Influencers Increases Reach And Sales
Sixty-one percent of social media users say they are more likely to trust suggestions made by friends, family, or influential users than those made by brands or businesses. On social media, only 38% of users believe brand recommendations made by the brand itself.
Influencers can help brands at every point of the consumer experience, from launching a new product to sharing reviews and generating sales. Brands need to pick an influencer who already has a sizable fan base and is well-versed in their niche.
Instagram claims that 87% of consumers were motivated to make a purchase after seeing content from an influencer on the platform. Consumers are more likely to take action (make a purchase, conduct additional research, share the information, or ponder) after seeing influencers posting content about food and beverage (51%) followed by health and wellness (39%) and Personal technology (37%).
Although this strategy has been popular for some time, it is still something to watch out for.
Streamlined Purchasing Processes To Lower The Abandonment Rate
As more businesses use social media to sell, businesses will need to be careful in designing an engaging, simple-to-use storefront.
Consider recreating your website experience for familiarity or selecting top-performing products for social media promotion. It is now vital to give users a seamless experience. The easier and faster the checkout process is, the more likely you are to generate sales and provide a satisfying user experience.
By including shoppable UGC on Ecommerce through product page galleries, you may save your consumers a step by allowing them to make a purchase without first having to “add to basket.” It also decreases the likelihood that customers would abandon their shopping carts, which is a huge issue for companies selling their products online.
Win Customer Loyalty with Shoppable User-Generated Content
Many buyers look for social proof before making an in-app purchase, and shoppable user-generated content (UGC) can give it. Customers don’t get to try something out firsthand when buying something online. But real images made by customers can show what the product actually looks like. UGC significantly influences peoples’ shopping decisions, according to 79% of respondents.
According to Salesforce, the CTR of ads with user-generated content is 5 times higher.
Increased Engagement With Augmented Reality Experiences
The popularity of augmented reality (AR) on social media is significant. Companies can use augmented reality in social media to help consumers make purchasing decisions. Customers may now virtually try on products without leaving the comfort of their homes, thanks to technological advancements. More than half of consumers (61%) prefer to purchase from sites that use augmented reality technology. AR is a logical extension of the mobile shopping experience that consumers have embraced as more people use mobile to look up product information and prices. By 2022, 16.6% of the US population will be using AR via social networks. By 2025, that percentage will have risen to 19.8%.
Social commerce is a no-brainer for expanding your brand’s reach. Marketers must capitalize on these trends to stand out in the increasingly competitive social commerce landscape. Learn where their audience hangs out online so they can reach them. And keep up with the latest features introduced by social media platforms to stay ahead of the competition.