Company
Date Published
Jan. 25, 2022
Author
Tanya Herman
Word count
402
Language
English
Hacker News points
None

Summary

Social commerce is a rapidly growing segment of the global ecommerce market, currently accounting for 7% and projected to reach 17% by 2025. In China, social commerce represents 22% of all ecommerce sales. The pandemic has accelerated the popularity of both ecommerce and social media platforms, leading to increased experimentation with blends of the two. Social commerce covers a variety of implementations, including ecommerce transactions with social features, ecommerce functionality on social media, and social aspects incorporated into ecommerce websites and mobile apps. Major platforms like Instagram, Facebook, Twitter, Snapchat, and TikTok have added ecommerce functionality to their platforms. Social media has been shown to drive more online sales during events such as Black Friday 2020. Retailers and marketplaces can benefit from integrating social media ecommerce into their sales workflow by staying connected with customers' shopping habits, needs, and expectations.