Social commerce is at the heart of online shopping for tomorrow's consumers
The social commerce revolution is here. Over the last couple of years, we've (quite obviously) spent more time online than ever. Aimlessly scrolling, trying to find a new trend, checking on our favourite celeb etc. One positive outcome of this though, aside from the influx of quality memes, is the extraordinary rise of social commerce. Social commerce is the latest must-know if you want your brand to succeed in today’s commerce landscape, which is well known now.
Shopping is such an integral aspect of our lives, we plan shopping weekends, shopping getaways and holidays around it. We wander through shopping districts, malls, and neighborhood markets to seek our next trendy or unique find. Shopping isn’t just a chore, it’s an adventure, and it has a strong social component.We seek opinions for everything from a good place to eat, a fashion boutique, the right doctor, to a stylist for that new look we are yearning for.
77% of consumers found themselves very influenced to shop on social media this year. These days, people prefer online shopping, whether it’s out of convenience, because they prefer a solitary experience from the comfort of their couch, or due to a global pandemic. In response, brands are turning to social commerce to bring the fun of shopping onto digital platforms. Scrolling is the new window shopping.
We found that not only is social commerce increasing, but its very definition is also expanding to encompass new channels.
Viraj Kakde Founder at Refr says “Shopping is fun and experiential, and a chance to discover and be surprised by new things.” Brands that seize the full potential of social commerce will increase engagement, conversions, and revenue.
What is social commerce?
Social commerce is the buying and selling of products and services through shoppable content on social media. With social commerce, users can shop directly through images and videos showcasing products without ever leaving the source. Let’s say you’re scrolling through Instagram, and you see an ad in which a model or influencer is wearing a new dress and accessories. You can tap on any of the displayed items for sale and be sent directly to the store page where you can complete the purchase.
Why social commerce works
Two words: Social proof. Social proof is the concept of using the decisions our peers have already made to make our own decisions. For example, if you’re walking through the lanes of Bandra and you see a busy restaurant, you’re likely to believe they serve great food. It wouldn’t be full otherwise, right? Or maybe you’re mindlessly scrolling through Instagram and you see someone wearing a nice dress. It looks great. You decide you want to get it. You buy it. And there’s the primary benefit of social commerce: It exposes brands to new customers and customers to new brands in a casual, engaging setting. Shoppers can explore products without even intending to shop in the first place. Social commerce reaches consumers on the platforms they already use instead of waiting for consumers to seek them out. This is the kind of online shopping experience consumers crave. Our research shows 76% of consumers enjoy making unexpected discoveries. Plus, they’ve already shown up at the party.
Refr - social commerce on steroids
Refr helps brands take the concept a step further by syndicating shoppable social media posts with their own customers channels. This offers more opportunities for customers to discover the engaging content that’s shared and created within brands’ social communities, new shoppers can then discover and learn more about these stores and click through to a purchase.
The Refr Team is dedicated to tell stories of businesses & keep business owners updated regarding the latest developments & trends. Our team shares a passion for providing information that helps businesses to start, run, and grow.