Already popular throughout Asia, the age of shopping via social channels has arrived in North America— and smart brands are taking advantage of it for the busy holiday season.
The days of the Sears Catalog, that century-long staple of the holiday season, are long gone.
The catalog ended in 1993, but its blueprint lives on. Convenient shop-from-home experiences with goods delivered right to your door is the heart of ecommerce, and nowhere is that more powerfully experienced than with social commerce.
Als Read – Let’s talk about Navigating the OCEAN
According to McKinsey, global sales from social media channels hit $37 billion in 2021, and by 2025 they’re predicted to reach $80 billion and account for rou...
Already popular throughout Asia, the age of shopping via social channels has arrived in North America— and smart brands are taking advantage of it for the busy holiday season.
The days of the Sears Catalog, that century-long staple of the holiday season, are long gone.
The catalog ended in 1993, but its blueprint lives on. Convenient shop-from-home experiences with goods delivered right to your door is the heart of ecommerce, and nowhere is that more powerfully experienced than with social commerce.
Als Read – Let’s talk about Navigating the OCEAN
According to McKinsey, global sales from social media channels hit $37 billion in 2021, and by 2025 they’re predicted to reach $80 billion and account for roughly 5% of all e-commerce sales in the US.
Some might argue that 5% is a relatively small portion of the market, but consider the trend in social commerce globally: while North America has been slower to adopt social commerce, according to a Statista report over 80% of the online population in Thailand, India, and China are social buyers. Social commerce is on the rise and brands need to consider it as part of their omnichannel strategy.
Growth in social commerce was spurred, like many recent changes in ecommerce, by the Covid-19 pandemic. In 2019 there were 60 million social buyers in the US; by 2022 that number had surged to 97 million. Younger generations, in particular, are embracing the format with TikTok, Instagram, and Snapchat leading the pack as important channels for influencing and capturing purchases.
A successful social commerce experience won’t happen by accident, however. Like any foray into a new channel, it requires deft planning on both the technical and operational fronts. Brands and retailers looking to capture the growing and lucrative social shopping audience will need to invest in their omnichannel capabilities.
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