Social commerce, also known as social shopping, will triple in size to $1,200 billion by 2025. The combination of streaming video and social media is very interesting for brands to easily reach their target groups. But this only seems to be the case in China. To further explain, social shopping realizes 1,000 billion dollars in China, but only 99 billion in the US, and 13 billion in the UK. According to Accenture, social channels are responsible for 17% of the global e-commerce market.
Chinese social media platforms are more multifunctional and have a broader purpose than their Western counterparts. Having sub-apps integrated within WeChat’s ecosystem simplifies the entire social commerce process. In order to make it easier for customers to purchase luxury products and interact directly with brands.
Chinese social media platforms actually offer multiple opportunities for shoppers to make their luxury purchases online. And with special features that allow either team or individual ones, Chinese platforms have seamlessly connected digital multimedia content to digital commerce. More importantly, there is a logic in place that handles transactions and logistics.
International brands, as well as small traders, are following the development of social commerce with interest. Telling a brand story, authentic or not, is in their nature and turns non-stores into alternative marketing and sales channels. For example, brands can utilize influencers, consumer calls to action, and user-generated content, to successfully compete in the social commerce market.
Phrases such as “swipe up to purchase,” or “store link in bio,” have become extremely popular calls to action to push social media users to purchase the items or services they see advertised in their newsfeeds. User-generated content has risen in importance for marketers with TikTok videos and hashtag challenges providing value for brands. This viewer-friendly content combined with an appropriate call to action steps has been a boon for advertisers and marketers alike. In addition to these organic opportunities, companies should keep influencers top of mind when planning their social commerce strategy.
To conclude, the western social media platform needs to work more seamlessly in order to become as successful as Chinese social commerce.
Read further: News, e-commerce, social commerce, user generated content
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