Part of the new wave of innovation that a lot of social media companies have started to leverage in involves incorporating online shopping into their platforms. After all, companies like Facebook have billions of users, and if these users start buying things on the platform then this can result in massive earnings for the company and take it to a whole new level in terms of profitability as well as how much people would think it’s worth when it comes to overall value.
The concept of shopping through social media was a bold one, but new research conducted by the Influencer Marketing Factory has revealed that it has a lot of potential in the future. About forty percent of survey respondents who were either Gen Z or Millennials said that they had bought something through content that they had seen on social media at some point or another. This says a lot about the power of the influencer industry which has created a number of career paths for individuals and is poised to become even more valuable once users start shopping directly through shops that reside on social media platforms and the like.
Social commerce saw a 25% increase last year, and total sales are expected to increase by 35% this year as well. Over half of respondents said that online research was a crucial part of their buying process, and many of them also commented on the fact that being able to add things to their cart directly on social media was preferable. About 61% of respondents spoke favorably about the add to cart feature, so this is something that will play a huge role in the future. Ecommerce will be turned on its head once social media platforms begin to invest in the industry properly and with a dedicated strategy.
For more insight, take a look at below infographic, titled "The Status Of Social Commerce Report".
Read next: Survey Reveals Lack of Public Trust in Social Media Influencers, Politicians
The concept of shopping through social media was a bold one, but new research conducted by the Influencer Marketing Factory has revealed that it has a lot of potential in the future. About forty percent of survey respondents who were either Gen Z or Millennials said that they had bought something through content that they had seen on social media at some point or another. This says a lot about the power of the influencer industry which has created a number of career paths for individuals and is poised to become even more valuable once users start shopping directly through shops that reside on social media platforms and the like.
Social commerce saw a 25% increase last year, and total sales are expected to increase by 35% this year as well. Over half of respondents said that online research was a crucial part of their buying process, and many of them also commented on the fact that being able to add things to their cart directly on social media was preferable. About 61% of respondents spoke favorably about the add to cart feature, so this is something that will play a huge role in the future. Ecommerce will be turned on its head once social media platforms begin to invest in the industry properly and with a dedicated strategy.
For more insight, take a look at below infographic, titled "The Status Of Social Commerce Report".
Read next: Survey Reveals Lack of Public Trust in Social Media Influencers, Politicians