Is Social Commerce The Next Big Thing?

Josh Smith - 22/04/2016

I recently listened in on a webinar about social commerce (http://marketingfinder.co.uk/webinars/social-commerce-next-big-thing). I always knew it involved selling products through social media channels (the title kind of gives that one away), but I never realised how well it performed or who the big players are.

According to a recent survey, 32% of Brits currently make or are ready to make purchases through social media. Although this number seems relatively low, it’s quite impressive considering the short amount of time social commerce has been readily available.

16% of those surveyed admitted to interacting with a retailer on social media, whilst 12% shared an image of their purchase. 11% wrote about their purchase, and 9% bought an item that was recommended, 8% also stated they bought an item that they had seen advertised on social media.

Findings also revealed that 18-24 year olds are the most likely to make online purchases and are willing to spend up to £66 per transaction. The least engaged age group in social commerce is those over the age of 55.

Based on UK data, big players in social commerce are currently Amazon, eBay, Argos and Tesco, with CDs and DVDs being the most purchased item (10%) followed by clothes (8)%, event tickets (7%) and then household goods at 6%.

Following on from the statistical data, the webinar went on to give tips on how a company can improve its presence on social media and its social commerce performance. Encouraging customers to leave reviews for products they’ve purchased, then actively posting reviews across the company’s social media platforms was one of the most useful tips given.

Other tips included companies hosting competitions, to encourage the use of a specific hashtag, making their social media page more known. The inclusion of social media channels in any email newsletters sent out, helps to make consumers more aware of any social media presence.

To find out more on how to boost your social commerce offering, get in touch today at 0151 231 6240 or by emailing Josh at josh@liquidagency.co.uk
 

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