Last week’s announcement of the new partnership between TikTok and Shopify dazzled global retail markets.
This partnership unites social media, video and e-commerce to make shopping more exciting and interactive.
Already pervasive and popular in China, social commerce is taking off in North America by bringing the mall to popular social platforms during the pandemic.
Here’s why:
BRANDS
- Gain access to gigantic user bases
- Connect to consumers in the moment to boost sales
- Amplify brand reach through digital word of mouth
SOCIAL COMMERCE PLATFORMS
- Stand out by shortening the shopping journey
- Gain rich data insights on consumers – and their networks
- Can sell more targeted advertising to retail companies
CONSUMERS
- Save time with a streamlined shopping experience
- Gain more variety in shopping options
- Enjoy fun, social online shopping
Looking ahead, we can expect to see social commerce innovations like shoppable livestreams (like Amazon Live) and, eventually Facebook’s integration of Oculus virtual reality (VR) tech and Libra cryptocurrency into Facebook Shops and Instagram Shopping for seamless social commerce.
Do you think social commerce is the future of retail?
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