Summary
READ ITWhy do we need to understand social media trends?
With COVID-19 changing the ecommerce landscape, the years following the pandemic are a promising game changer for the online shopping landscape, with social commerce taking the world by storm.
With consumers exhibiting a strong interest towards shopping on social media, let's dive into the 4 key trends that can be leveraged by your brand to reshape this shopping experience.
Trend #1 - Consumers using online channels for shopping
With a shift towards the digital age, digital networking channels have become the primary destination for customers to shop products or services from their favourite brands.
Research surveys suggest that almost 80% of consumers prefer digital retail in comparison to physical brick and mortar stores.
This is solely due to the fact that it creates a convenient journey for consumers right from browsing products, to selecting their preferences and purchasing their products from the comfort of their electronic devices, making this trend have a significant comparative advantage to in person shopping.
This allows us as brands to understand the importance of building a strong online presence on social media platforms of choice.
Trend #2 - Social Commerce vs Ecommerce Preferences
In the early days, social media was merely a platform for socialising through which, individuals could share photos and life updates with family and friends. However, times have changed, with social media transforming into not just a social network but a form of community retail.
With research showing a significant 76% of consumers preferring shopping on social media as compared to solely utilizing Ecommerce.
This allows brands to understand the importance of seamless integrations of e-commerce practices into social channels such as Instagram, Facebook and TikTok. Most of these platforms now allow online brands to sell products right from their profiles, such as Instagram Shop and TikTok Shopping. This ability for consumers to socialise as well as shop all within one platform is revolutionising the consumer's digital journey at an accelerated pace.
Trend #3 - Brand Loyalty Growth
Furthermore, the biggest concern with shifting your brand's practices from an ecommerce focused approach to a social commerce strategy is whether customers are recurring or not.
However, research shows that a whooping 63% of community retail shoppers prefer to return to the same seller again when it comes to shopping.
This trend underscores the significance of providing exceptional customer experiences, personalized recommendations, and engaging content to foster brand loyalty.
Trend #4 - Change in payment preferences
Cash payments are so 2012. In the digital age, the ease of security along with transaction speed has led to a significant change in consumer preferences when it comes to payment methods for products and services.
Thus, making online payment methods the preferred choice for almost 65% of consumers. This, additionally, creates room to cater to the diversified preferences of customers.
Additional research also shows that, in order to optimise checkout journeys, 79% of individuals are attracted via free delivery.
Moving Forward
These identified trends don't seem to be slowing down any time soon. This smooth blend of social media and e-commerce is re shaping the retail landscape as we know it. With social media companies developing more innovative features, be it augmented reality or on-site interactive shopping experiences, brands require staying ahead of the game.
In conclusion, the recent year has revolutionised the social commerce landscape, highlighting a strong dominance of online channels, and consumer preferences when it comes to social media shopping.
With the rise of user-generated content, social media shopping gives businesses an incredible opportunity to seamlessly gain brand loyalty and boost sales. Embrace these trends, develop and implement unique customer experiences by collecting and sharing UGC, and watch your brand grow rapidly in this digital era.
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