Social Commerce: A combination of Social Media and e-commerce. In other words, Social Commerce is a new form of shopping where Social Media users buy right off of channels such as Facebook, Instagram, Twitter, Pinterest, and/or Snapchat.
The average person spends 2 hours a day on Social Media.
And that’s just the beginning of an upward momentum for social media usage. This number further translates to 5 years and 4 months spent on Social Media throughout an individual’s lifetime. The amount of time spent on Social Media beats time spent on eating, drinking, cleaning, and socializing! What could you do in 5 years and 4 months?
Social Media Today told us; in 5 years and 4 months, a person could do the following:
When it comes to shopping, an individual spends 45 minutes a day making a purchase online or in-store. Again this translates to about 3.5 hours a week or 7.5 days in a year, which ranks higher than socializing, cleaning the house, caring for family, and educational activities.
It is evident that people spend a lot of time on Social Media and shopping. When combining the two together, we get Social Commerce. It only makes sense that there has been an implementation of a Call-to-Action option on Social Media pages.
Facebook has gained the most traffic when it comes to Social Commerce. Facebook users are able to make a purchase by adding their credit card information directly into Facebook so that users can automatically make a purchase. Because of the quickness of being able to import your information, Facebook has the highest conversion rate compared to other platforms at 1.85%.
Pinterest has “Buyable Pins” which can be found through search results, your profile, and related pins. Explorers will know the item is buyable when there is a price listed above the product.
Instagram, the most visual platform, allows Instagrammers to shop with platforms such as Curulate. Curulate, a Pennsylvania based business provides a “link2buy” option in the bio after viewers see an image they like on the main page. MicroD’s partnership with Curulate will allow you (retailers) to have access to all Social Media, be able to tag your product once and then send it to all platforms and provide e-commerce reporting to understand where traffic is generated.
In 2016, home goods had the highest percentage of people who prefer to purchase online. And it terms of buying off of a mobile, home furnishings played a significant role.
According to eMarketer, “one-fifth of US digital sales in the furniture, appliances and equipment category, as well as home and garden, were conducted on mobile devices.” Because furniture is something that needs to be visual and consumers want to see it easily, Social Media is the largest influencer to make a purchase. It is the easiest form of shopping.
Since Social Media is where the most engagement occurs, you can make it even easier on consumers and let them make an immediate purchase on your social platform. You can scroll through your feed and find a piece of furniture that catches your eye.
With a click of a button, it’s yours.
Now is the time to implement Social Commerce for your customers. MicroD and Curalate are ready. Are you? Find out more information on how we can help you here by clicking on the image below!
© 2017 MICROD, LLC.