The Rise of Social Commerce
ONLINE SHOPPING IS GETTING SOCIAL.
With both in-person interactions and shopping heavily hindered by COVID-19 over the last year, it’s no wonder social commerce is on the rise. The surge in e-commerce that followed the path of the pandemic has led to many social platforms pursuing strategies for transforming their already-astronomical
engagement into profits.
TikTok has partnered
Instagram has added shopping
Facebook has bought
WhatsApp has added
Influencers meet infomercials.
Livestream shopping is also taking the world and its pocketbooks by storm. It’s the digital equivalent of HSN or QVC, only enhanced with digital social interactions. And it’s gotten a particularly strong start in China, thanks to supersellers like Viya, whose viewership has surpassed that of the Academy Awards or Sunday Night Football. Viya has sold it all, from cosmetics to clothing to cars. She even sold a rocket launcher for over $5 million in 2020.
Part of livestream shopping’s success is the intimate-feeling experience it can create. You can see fellow shoppers’ comments stream across the screen throughout the event, and even interact with the host if you’re lucky. Amazon launched its own livestream shopping channel in 2019. And the Interactive Advertising Bureau anticipates $120 billion in livestream-generated sales worldwide in 2021.