logo
logo
Sign in

What Is Social Commerce? Types Of Social Commerce Platforms And Benefits

avatar
Solwin Infotech
What Is Social Commerce? Types Of Social Commerce Platforms And Benefits

As a retailer, what are the possible platforms you consider selling online? Most common options include your own eCommerce website or application and/or partnering / registering on the marketplaces such as Flipkart, Amazon, eBay, etc., and leverage their traffic to sell your products. But what about social networks? There are over 3.5 Billion active users found on social media platforms and almost all users have at least 7-6 social media accounts. They spend over 142 minutes every day interacting. This is a great opportunity.

Lately, social media platforms have provided millions of businesses with new sales opportunities. In this post, we would be discussing social commerce in-depth and how it can positively impact your business. Also, don’t miss out on the amazing tools we would mention in the blog so as to help you improve your chances of selling online on social media platforms.

 

What Is Social Commerce?

By definition, social commerce or social selling is a strategic method to sell and buy products directly from social media platforms. No longer social media is a place to advertise, but retail and marketing models today include social media as a tool in the discovery process to increase their click-through rates and also boost sales. In short, social commerce allows users to not depend on eCommerce sites, but they can directly buy from social media apps.

In theory, the longer you make the checkout process, the higher are the chances that you would lose the engagement and buyers would abandon your platform. Not leaving the platform and directly, buying over social media helps you keep the engagement high and reduces the chances of bounce rates. It also opens new retailer opportunities. Have a WordPress Ecommerce Store? Check out: Best WordPress Social Media Plugins

What Do The Trends Say?

Success of any model is important to know before investments. According to a report, in 2020 amid a pandemic, the social commerce market escalated to $89.4 Billion. In the next 7 years, it is expected to grow up to $604.5 Billion.

Clearly, it is a burgeoning theory, and leading social media platforms are gearing up to provide every tool required to run an online shop. In this next section, find the social media platforms that you can use to sell online.

Read more

collect
0
avatar
Solwin Infotech
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more