Social commerce, which allows consumers to buy products and services directly through social media platforms, is gaining popularity in Europe. Businesses are using social media to reach new customers, promote their products and services, and provide more personalized shopping experiences.
Benefits of social commerce
Social commerce offers a number of benefits for businesses and consumers. For businesses, social commerce can help:
- Reach new customers: Social media platforms are an effective way to reach a wide and diverse audience. For example, in 2023, 70% of Europeans use social media.
- Promote products and services: Businesses can use social media to create engaging content that generates interest in their products and services. For example, a study by Ecommerce Europe and Eurocommerce found that 80% of European consumers have been inspired to purchase a product after seeing it on social media.
- Offer more personalized shopping experiences: Businesses can use social media to collect data on customer interests and offer more relevant products and services. For example, Facebook allows businesses to create targeted ads that only show to users who have shown interest in similar products or services.
For consumers, social commerce can help:
- Buy products and services more conveniently: Consumers can buy products and services directly from their favorite social media platforms. For example, Instagram launched a feature in 2022 that allows users to buy products directly from influencer videos.
- Get information and opinions from other consumers: Consumers can read reviews and comments from other consumers before buying a product or service. For example, TikTok has launched a feature that allows users to share their product reviews.
- Save money: Businesses can offer discounts and special promotions through social media. For example, Amazon offers exclusive discounts to members of its Prime program.
Social commerce trends
Social commerce is evolving rapidly, and some of the key trends include:
- Integration with online stores: Businesses are integrating their online stores with social media platforms to provide a more seamless shopping experience. For example, Facebook allows businesses to create product catalogs that can be integrated with their online stores.
- Augmented reality and virtual reality: Businesses are using augmented reality and virtual reality to provide consumers with a more immersive shopping experience. For example, Nike has launched an augmented reality app that allows consumers to try on shoes before buying them.
- Live social commerce: Businesses are using live social commerce to interact with consumers and sell products in real time. For example, Amazon Prime Video offers live streams of e-commerce events.
Social commerce is a growing trend that offers a number of benefits for businesses and consumers. Businesses that want to take advantage of this trend should focus on creating engaging and relevant content that generates interest in their products and services.
Examples of companies using social commerce
- Nike: The sportswear company uses Instagram to promote its products and offer exclusive discounts to followers.
- H&M: The fashion company uses TikTok to create fashion videos and trends.
- Amazon: The e-commerce company uses Facebook to create targeted ads that show only to users who have shown interest in similar products.
Numerical data on social commerce
- In 2023, social commerce accounted for 10% of e-commerce sales in Europe.
- Social commerce is expected to account for 20% of e-commerce sales in Europe by 2025.
Most used social media platforms for social commerce
- Instagram: The photo-sharing and video-sharing social media platform is the most used for social commerce.
- Facebook: The most popular social media platform in the world is also one of the most used for social commerce.
- TikTok: The short-form video social media platform is gaining popularity in social commerce.
Businesses can use social media to create engaging content that generates interest in their products and services. For example, a study by Ecommerce Europe and Eurocommerce found that 80% of European consumers have been inspired to purchase a product after seeing it on social media.