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Wednesday, May 18, 2022

Social Commerce, the trend of shopping that is still hot in 2022

The US-only social commerce industry is forecast to grow to $80 billion by 2025, with 72% of users using social media platforms to search for brands and 97% of Gen consumers. Z uses social media as shopping inspiration. The number of US social commerce buyers grew 25.2 percent to 80.1 million in 2020 and is expected to grow to 96 million by 2022.

The Influencer Marketing Factory survey in December 2021 asked 1,000 US respondents aged 16 to 54 about their spending and socializing behaviors.

  • 82% of shoppers discover products on social media and order directly with brands over the phone.
  • 57% have bought something during a live broadcast, and 39% found that they discovered an interesting new product while watching it.
  • 58% are increasingly turning to Buy Now Pay Later (BNPL), compared to 36% in early 2021 when only 36% of users tried BNPL.
  • 41% They Want Special Discounts From Influencers or Brand Advertising
  • 42% shoppers want to see information directly from a brand’s social media. (instead of a third party website)

Alessandro Bogliari, CEO of The Influencer Marketing Factory, said: “Social commerce can help brands increase mobile reach and reduce cart abandonment. Brand fluids, for example, are fees for creating a more profitable affiliate system for selling products, products and services.”

The products that US shoppers choose to shop on social media more than other channels include:

1st place: Apparel/Clothing 22%

2nd place: for beauty/cosmetic products 15%

3rd place: Home and electronic products 11%

As for the frequency of orders made through social media, how often? The shoppers stated that 29% of them liked to shop on social media at least once a week, and 24% said more than once a week.

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Source: SocialMedia Today



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