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Social media has become an integral part of life in the last several years, with 3.78 billion users worldwide. With such a massive number of users globally, it is clear that social media represents a powerful medium with impressive potential for business owners, should they capitalize on it correctly. One of these best practices is social commerce, or the blending of social media and ecommerce.
According to Research & Markets, the global social commerce market is projected to reach $604.5 billion by 2027, growing at a rate of 31.4%. It streamlines the entire shopping experience, allowing users to discover, research, and purchase products, all from the social media platform, whether Facebook, Instagram, Pinterest, or SnapChat.
Through a recent study, Facebook found that not only does Instagram represent a powerful marketing source, but it also drives sales, with 54% of users reporting that they made a purchase either in the moment or right after seeing a product or service on Instagram. The platform is able to drive users to make a purchase while simultaneously improving a brands image, with 78% of respondents saying that they perceive brands on Instagram to be popular and relevant.
Learn more about all the latest trends from leading influencers and ecommerce experts at The White Label World Expo on September 1st & 2nd, 2021 at the Las Vegas Convention Center. Get your free tickets today!