The growth of social commerce has taken a spike in the past few years, particularly because it enables people to stick to their comfort levels while placing an order or even doing homework on their favorite brands. The process of social commerce includes purchasing products online. However, social commerce and eCommerce are often confused for one another, but there is a significant difference between the two. eCommerce usually deals with online purchasing, selling, and transactions, whereas Social commerce is all about using the social media platform to sell products to potential customers directly.
Upon reviewing the behavior of around 350 American Gen Z as well as Millennials, The Influencer Marketing Factory made some pretty interesting conclusions. To understand the experience of Millennials with Social commerce or what preferences they have while interacting with social commerce on their platforms, a handful of statistical data was gathered and studied. According to this data, we learned about the behavior of customers while checking a product online. From Beauty products to apparel and even clothing, Millennials have had their fair share of social commerce, eventually making it a bigger market.
The year 2020 proved to be totally worth it for social commerce as its market grew by 25.2% to 80.1 million. It is expected that the next years will bring more sustainability and growth to social commerce as its traffic is taking a toll. The infographic below refers to the comprehensive layout of social commerce and how it has worked for Millennials and Gen Z so far. Social media platforms like Instagram and Tiktok have played an important role in this market which has helped social media to provide additional services to its users. View the infographic and learn about consumer behavior with social commerce.
Infographic by: Theinfluencermarketingfactory.com