Social media is the new market for e-Commerce and sales. Because of the pandemic, social selling it’s the new trend.
Social Media: Social Selling And Live-Streaming
Facebook and Instagram have shopping platforms that are fairly easy to set up–and easy to buy on. TikTok it’s a huge shopping platform. You can even shop on Pinterest!
Because of the pandemic, behaviors changed. Suddenly people were much more open to buying on social.
Stats show that 35.9% of internet users in the U.S. made at least one social commerce purchase in 2021.
So 2020 was the year social selling started to take off. And the future looks pretty good when it comes to social e-comm.
8 in 10 ten U.S. businesses anticipate selling on social media within the next three years, according to Statista.
And, the future of that selling will be streamed live.
According to Insider Intelligence, 70% of internet users in the U.S. who regularly watched live streams led by influencers said they were likely to buy products recommended by the influencers.
And, when it comes to the kind of content people are drawn to for social selling purposes–live-streaming tops the list.
Live commerce is pretty effective.
Companies report conversion rates approaching 30% with live commerce (up to ten times higher than in conventional e-commerce!). Also, companies are seeing their share of younger audiences increase by up to 20% via live commerce, too.
Those stats are not easy to overlook.
Companies and Live Streaming
Walmart. They’ve been selling via streaming since Dec. 2020.
Over the last 14 months, they’ve tested 15 shoppable Livestream events across five platforms. They launched Walmart.com/live.
They’ve worked with more than 20 creators and hosts on these live streams. And, they were the first retailer to pilot shoppable Livestream events on major social platforms, including TikTok, YouTube, and now Twitter.
But, Walmart is not alone.
Pac-Sun, Bloomingdale’s, L’Oreal, Nordstrom, and Petco are just a few of the brands with track records of live-streaming social shopping events in 2021.
Pac-Sun has an entire section on their website where they’ve curated these events–much like Walmart.
Petco held its first live shopping event last April and it “exceeded expectations across the board”, according to the company.
Social e-comm is here to stay–and it’s being driven largely by live-streamed events (and influencers).
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Pro Tip
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