The rise of social commerce: How “swipe, tap, buy” is revolutionizing retail

For businesses aiming to maintain a competitive edge in the digital marketplace, embracing and understanding the social commerce trend is no longer optional – it’s imperative.

The DHL 2024 E-Commerce Trend Report (link below) reveals that social media commerce is on the rise and poised to make a huge impact on retail. According to the report, 50% of shoppers have purchased via social media. Industry forecasts project the social commerce market to reach a staggering $2 trillion by 2025, underscoring its significant potential.

The social media shopping landscape is already quite diverse, with different platforms catering to various demographics and product categories. Key sectors driving social commerce include apparel, beauty, home, tech, accessories, and food & beverage.

Social commerce, or social media shopping, is a type of e-commerce that integrates the shopping experience directly into social media platforms. That means it’s more than merely advertising products on social media. Social commerce is a full-funnel approach, from discovery to purchase, so shoppers can browse and buy products without leaving their social apps. Everything happens within the social network’s ecosystem, such as ratings and reviews, sharing and recommendations, and purchasing and loyalty programs.

In other words, brands can now connect directly with consumers on social media to not only advertise their products but also interact with potential customers and sell their products right on the social media platform.

Social media shopping presents exciting opportunities, but it also comes with its own set of challenges. Here are some questions to ask yourself:

• Are you using the right social media commerce platforms?
  Facebook Marketplace may be the leader, but each social media shopping platform offers unique features and attracts different demographics. It’s crucial to align your social commerce strategy with your target audience.
• Is your social media content optimized for a seamless social media shopping experience?
  Today’s consumers leverage social media for multiple stages of their shopping journey, from discovering products and researching brands to comparing options and making purchases. They also share experiences and leave reviews after they buy, potentially influencing future shoppers.
• What frustrates e-commerce shoppers the most?
  Across the globe, the top frustration is high delivery costs, with 41% of shoppers not completing their purchase because delivery is too expensive, followed by long delivery times and having to pay for returns.
• Are you offering a broad enough range of delivery options?
  While shoppers expect flexibility and convenience when shopping on social, they are also increasingly concerned about the reliability, speed, and cost of deliveries. So it’s essential to offer a broad range of delivery options at checkout.
• Do your shoppers find their preferred payment option on your site?
  Over 60% of consumers report abandoning purchases because their preferred payment method is unavailable. Offering diverse payment options is crucial to avoid missing sales opportunities.

Delivery options

The keyword here is “choice” – e-tailers can cater to varying customer preferences and needs by offering diverse delivery options. In our experience, sales go up when you give social media shoppers greater control over the delivery process. Let them choose delivery to a parcel locker or pick-up point and reschedule if something comes up. Provide both free and paid delivery options to cater to different priorities. This allows time-sensitive social commerce customers to opt for faster, premium delivery, while cost-conscious buyers can select free, slower shipping methods. By accommodating various preferences, you can improve the overall social media shopping experience and potentially increase conversions.

Social media is no longer just about sharing pictures and connecting with friends.

The future of e-commerce is social, with “swipe, tap, buy” becoming the new norm. Social media platforms now function as dynamic marketplaces for social commerce, allowing users to discover products and complete purchases without leaving the app. They can offer seamless experiences for discovering, sharing, and purchasing products, dramatically enhancing shopping convenience.

Brands that shift to social media commerce can not only streamline the customer journey but also open up new ways to engage with audiences in more immediate and interactive ways. And with the right post-sales delivery strategy in place, that engagement can quickly turn into new sales and return customers.