Social media users have been increasing 9% year-on-year, with over 3.8 billion users worldwide as of Q1 2020. With the onset of Covid-19, social media usage has further increased, with over 23% of internet users spending significantly more time on social media than before.
A new kind of commerce in which the entire shopping experience takes place in a social media channel, social commerce is no longer a force to be ignored. In fact, e-sales has been forecasted to exceed $735 billion by 2023 as 81% of consumers search for products they need to buy on Instagram and Facebook, making the two channels a massive reference hub for shopping.
From seeing an advertised product on social media to checking out directly from the app, social commerce unifies the fragmented online purchase experience to provide a smoother shopping experience for users. Beyond that, by providing a platform that enables an end-to-end buying journey, social commerce aids the democratization of online sales for small retailers, empowering small businesses to increase their visibility and ease of use of digital sales. Has your business started using social commerce? #socialcommerce #esales #digitalsales #onlineshopping