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7 August, 2021 09:01:25 PM
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Social commerce: Trends to watch in 2021

Influencer marketing, in reality, produces as much, if not more, revenue than other forms of marketing. Influencers will play a more significant role as brand ambassadors and will be able to sell directly via their social media platforms.
Maris Naglis
Social commerce: Trends to watch in 2021

As it stands, half of the world's population is participating on one or more social media platforms. Social networking has a nearly unrivaled scope. This opens up yet another e-commerce opportunity. Never before have the retail and e-commerce industries been able to reach such a large global audience. Among modern retailers, social commerce is the newest and fastest-growing trend. E-commerce companies are using it to engage their current and future customers and generate additional sales and revenue.
Using social media to sell goods online seems natural, and social shopping is the next big thing in online retail. The future of social commerce appears to be promising, thanks to the influence of social media and e-commerce. In light of the pandemic, even conventional brick-and-mortar stores shift their focus to online sales, and social commerce is a creative way for brands to communicate and interact with their customers.
Let's look at 7 trends we can expect to follow in 2021;
1. Brands can build seamless e-commerce experiences directly within popular social media networks using social commerce: According to reports by Absolunet, more than 87 percent of e-commerce customers firmly agree that social media affects their purchasing decisions. Social trading is not a modern concept; it has existed for quite some time. The COVID-19 pandemic, on the other hand, is helping to raise its profile and results. The use of e-commerce has increased dramatically, as has the amount of time spent on social media. When you combine the two, you have a commercial engine ready to cash in.
2. Conversational chatbots for social commerce will rise: Consumers will spend more when their shopping experience is tailored, according to Segment Survey research. However, doing so at scale, particularly in social media, where you have much less control over the channel's infrastructure, can be difficult. Using chatbots as a solution to the personalization problem is one choice. While chatbots have limitations regarding how specific they can be, they can provide consumers with short, straightforward answers to their questions.
3. Future of social commerce is a video and live streaming: These days, video makes up a large portion of social media material. In reality, video is a feature on all major social media sites. In the form of short video ‘stories.' Video has a much higher level of viewer participation, and retailers are taking note. Many online retailers are already using TikTok to sell their items. Users on the app are sure to be captivated by interactive videos that display the goods in action. Similarly, several businesses are also using Snapchat storefronts and Instagram Reels to sell their goods.
4. Influencers will drive social commerce: Influencers have become an essential part of social media and how we consume content. With the growth of social commerce, they are becoming an even more important commodity for businesses. They have a devoted following who are still listening to what they have to say. Influencer marketing, in reality, produces as much, if not more, revenue than other forms of marketing. Influencers will play a more significant role as brand ambassadors and will be able to sell directly via their social media platforms. Influencers will become even more deeply incorporated into brand marketing strategies in 2021. They will also help advertisers understand what their target markets want. The brands will then curate highly tailored personalized items and campaigns.
5. The next move in omnichannel retail is social commerce: Since several retailers have already adopted omnichannel shopping, social commerce would be the next step in the process. Retailers are now using social media to push traffic to their websites and channels. Instead of only driving traffic, they will now use the same advertisement dollars to produce revenue. They can engage consumers and encourage purchases via social commerce without leaving the social platform they're on. Shorter sales periods and faster sales are the benefits of this. When consumers engage in social commerce, they will make a purchase right away. Retailers would need to integrate social commerce as a channel into their omnichannel retail stack.
6. UGC content in social commerce will emerge: When more consumers turn to the internet for their shopping needs, social media sites capitalize on the trend. Social media platforms are increasingly investing in features that enable users to monetize their content.  Before purchasing from a company, today's customers demand social evidence. They wouldn't pick a brand solely based on its innovative advertising campaigns. Before making a purchase, they want to see people just like them engaging with your product and having a good time. As a result, user-generated content marketing has proven to be a successful technique for connecting brands with their target audience. TikTok is a social media platform that uses user-generated content to promote social sales.
7. Voice and VR, the future of social commerce will become more futuristic: Every day, voice recognition technology improves and becomes more accurate. More than ever, Alexa, Siri, and Ok Google are being used to ask for shopping-related recommendations. Smart home devices are also making them more popular in many households. Customers will use voice to browse for and explore new items, and if the ecosystem is set up correctly, they will also use voice to make purchases. Augmented reality is another brilliant breakthrough that has the potential to change social commerce (AR). Consider this: a consumer will see how a product can appear in their specific environment. Isn't that going to be something?
Keeping in touch with clients is a difficult task in the retail industry—understanding consumers and how they want to purchase is required by brands to maintain relationships and inspire them. Retailers must embrace e-commerce transformation and provide their customers with what they want: a fast, seamless experience across all sales channels.
My recommendation to retailers is to take advantage of any opportunities to interact with their customers. It will only get busier as more customers conduct product searches on social media networks.

The writer is Vice President, Customer Success, Httpool. Email Id: [email protected]

 

 

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Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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