Social e-commerce is developing. At present, mainstream social platforms mainly includeMeta's Instagram, Facebook, TikTok, Pinterest, etc.
After sorting out the e-commerce operations of some mainstream social platforms,EMarketer found that Instagram, Facebook and the favorite TikTok of Generation Z are currently in the leading position in innovation; However, Pinterest, Twitter and other platforms are also trying their best to expand their e-commerce functions.
Instagram, Facebook and Pinterest have separate "Store" tabs, and sellers can create online stores; TikTok has no special storefront page, but the brand can add a "shopping" label.
EMarketer also found that Instagram and Facebook are leading the way in terms of in app checkout and other functions, but TikTok and Pinterest are using their advantages in product discovery to create value for retailers.
Although many platforms provide some form of shopping content, onlyFacebook and Instagram have in app checkout options.
The lack of intra application checkout is not necessarily an agreement between consumersAccording to the survey by Bizrate Insights, 56% of American consumers will purchase the retailer's website through social media. However, eMarketer believes that if there is an in application checkout option, the purchase conversion rate should be higher.
In addition, live shopping is increasingly used as a starting point for social commerce.Twitter has started to test the live shopping function. Pinterest recently launched Pinterest TV.
It should be noted that although48% of American social media users said they had made purchases through social media in the past year, but according to another survey, social commerce has not yet become the mainstream.EMarketer predicts that the sales of social e-commerce in the United States will reach 36.62 billion dollars this year, only one tenth of China.
Nevertheless, sellers are still enthusiastic about the prospect of social commerce.A study by The Harris Poll and Sprout Social found that,Currently73% of enterprises sell through social media, which is expected to rise to 79% in the next three years.
EMarketer said that although social e-commerce has not yet become mainstream, it is still a very valuable tool for brand communication.