I just finished reading an article from The Canadian Marketing Association (CMA) on social commerce and the evolution of shopping how it's changing the way people shop. I wanted to share the most interesting parts with you.
The article talks about how social media has become a major player in the world of marketing. In fact, 64% of digital shoppers discover new products and brands through social media platforms. This has made social media an all-in-one marketplace, making it easier for people to buy the things they want.
Social commerce is expected to keep growing in popularity. Accenture predicts that by 2025, social commerce will make up 16.7% of the total $7 trillion e-commerce spending, which is a huge increase from the $492 billion spent in 2021.
In North America, social commerce is becoming more popular with younger generations. In the US, it's expected to make up more than 5% of total retail e-commerce sales by 2025. In Canada, over a quarter of the population are social buyers, and platforms like Facebook, Instagram, and TikTok are making it even easier for people to buy things through social media.
However, there are some things that brands need to consider before diving into social commerce. It's important to make sure that the online experience is seamless and easy to navigate. This requires a team of experts in data analytics, creativity, logistics, and inventory management.
Another important factor is the role of influencers. Many people consider buying products or brands recommended by their favorite influencers. Despite initial concerns about Covid-19's impact on influencer marketing, it has continued to grow. In fact, it's expected to become a $21.1 billion industry by 2023.
In conclusion, the article provides valuable insights into the world of social commerce and influencer marketing. It's important for Canadian marketers to stay informed so they can make strategic decisions in this evolving landscape.