Social commerce is a fancy name for the social media marketing of products. Basically, all the brands that sell their products online on different social media platforms are related to social commerce. Social commerce has been growing in the past years and the pandemic of Covid-19 boosted it since all the brands shifted to social media platforms to attracted buyers for online shopping. Currently, the prominent platforms that allow social commerce include Pinterest, Instagram and of course, Facebook.
Several people confuse social commerce with e-commerce however, both are totally different. E-commerce means buying or selling products from websites or applications whereas, social commerce is the use of social media platforms to sell or buy different items without leaving the platform.
The infographic below shares a detailed Status of Social Commerce Report and according to it, around 40 percent of the Millennials and Gen Z have purchased a product via live video streaming on social media applications. 53 percent of the responders said that they prefer a little research about the product before buying whereas, only 12 percent of people said that they make a purchase right away for a product after seeing it on social media.
61 percent of the responders like to add the products to the cart while staying on the social media platform. On the other hand, 39 percent prefer leaving the social media platform and buy the product on a third-party website.
Infographic by: Theinfluencermarketingfactory.com