It’s that time of year again: You’re looking for the best birthday gift for that special someone in your life.
Twenty years ago, you may have started your search at the nearby Macy’s.
But times – and the nature of social commerce – have changed. Instead, you open your laptop and perform a quick search at your favorite online retailer.
According to eMarketer, eCommerce sales in the United States will grow to $491.5 billion by 2018. With the rise of eCommerce and social media, there’s been a major push towards social commerce, where retailers and social networks are partnering to offer consumers a more convenient online shopping experience.
Some examples of recent social commerce trends in action:
- Well-known brands like Amazon letting consumers add items to shopping carts with #AmazonCart.
- Facebook’s “Buy” button makes it easier for customers to purchase products without leaving their social media accounts.
- Hashtags and buttons help make buyers purchasing options effortless.
- Shoppable Instagram features that replicate your account and create an Instagram shop, allowing followers to easily reach products
- Conversational commerce is taking over communication between stores and shoppers
Of course, these are just a few of the ways that social commerce is impacting social shopping trends.
In order to improve customer retention strategies and build brand loyalty, companies must understand the complexities of social commerce and identify opportunities to maintain customer engagement strategies after the initial purchase.
So, why is social commerce important, and how can your business benefit from it?