Nowadays, the world of social commerce is making a buzz. According to a social media agency Hong Kong, it is an integration of social media and eCommerce. Social commerce makes shopping easier among modern consumers. A digital marketing speaker Hong Kong highlights that its power is convenience. Users can complete a purchase without leaving Facebook, Instagram, etc. They can also multi-task shopping and watching a video simultaneously, as a video marketing agency Hong Kong noted. Here’s a look at Social Commerce in 2022!
LATEST SOCIAL COMMERCE STATISTICS
This year, 1 out of 3 Facebook users will make a purchase within the platform. As such, social selling can help establish the dominance of eCommerce. Around 96% of B2C marketers, use Facebook to sell products and services. Around 82% use Instagram, 71% use LinkedIn, 53% use YouTube, and 28% use Pinterest.
Social media has influenced the buying decision of 87% of modern consumers. Clothing accounts for the largest social commerce purchase. 49% of social media users listen to influencers when buying products and services with 70% of them trusting YouTube creators than traditional celebrities.
In China, social commerce gave the Chinese online market a $315.5 billion revenue in 2021. WeChat mini-programs dominate the game with 3.2 million social commerce programs. Its total number of transactions grew by over 895% last year. As the market booms, 8 out of 10 Chinese participate in social commerce.
A LOOK AT SOCIAL COMMERCE IN 2022
From scrolling to shopping, 76% of social media users admit that social media have influenced their buying decision. Bazaarvoice, a technology platform that focuses on providing smart shopping experiences, recently conducted a survey on how people like to shop via social commerce. The results can help brands, businesses, and marketers adopt a smarter social commerce strategy.
- 65% of people use social media for shopping inspiration.
- 61% of people shop when they stumble across something in social media feeds, stories, videos, etc.
- 60% of people shop from influencer links and recommendations.
- 60% of people shop from the content posted by brands and businesses that they followed on social media.
- 55% of people shop from recommendations of colleagues, family, friends, and neighbors.
- 42% of people use social media to gather information about a brand, business, product, or service.
- 38% of people actively look for products to shop via social media feeds, stories, etc.
When it comes to shopping habits, most people use social commerce spontaneously. Facebook, Instagram, Pinterest, TikTok, Twitter, and YouTube users visit the platform for shopping inspiration. As they stumble across a feed, they are influenced to make a purchase, except on YouTube. Shoppers also use these social media platforms to gather information about a brand, business, product, or service. In YouTube, influencer marketing dominates social commerce. While, recommendations from colleagues, family, friends, and neighbors dominated Facebook.
The top social commerce products are:
- Apparel
- Beauty
- Electronics
- Food & Beverages
- Health & Wellness
- Home
While the top shopping trends are:
- AR & VR
- Digital Publishing
- Live stream
PRO-TIPS FOR A SUCCESSFUL SOCIAL COMMERCE STRATEGY
To turn scrolling into shopping, social commerce brands and businesses should rely more on word-of-mouth from daily users. They should continue to test interactive experiences to boost discovery and inspiration among social media users. Social commerce is a fast-moving test-and-learn phase. Thus, it favors brands and businesses that are willing to experiment.
Reference: https://www.bazaarvoice.com/