Are People Really Making Purchases on Social Media
Are People Really Making Purchases on Social Media?
Ever wondered if scrolling through your feed could actually turn into a shopping spree? When the COVID-19 storm hit, shoppers embarked on an epic online treasure hunt for goodies that were once just a car ride away.
Fast forward to now, and global e-commerce hubs are riding the digital wave, boasting a jaw-dropping 22 billion monthly visitors – that's more eyeballs than a superhero blockbuster!
Hang tight because we're about to spill the beans right here in this blog!
1. Are consumers clicking 'add to cart' faster than you can say 'double-tap'?
With an array of exciting new options at your fingertips, it's easy to feel like a pioneer on this digital frontier. But hold on to your virtual shopping carts, because you might be surprised by just how much consumers have already embraced these trendy tools.
According to the report by statista on Value of social commerce sales worldwide from 2022 to 2026:
In 2022, people around the world made a whopping $992 billion in sales using social media. And guess what? Buying stuff through social media is only going to get bigger in the future! Experts think that by 2026, these social media sales could skyrocket to about $2.9 trillion.
In simple terms, even though social media shopping is a relatively new concept for most people, it could be a smart choice for businesses aiming to easily expand into online retail.
2.Which social media platforms do people love to shop on?
When it comes to shopping on social media, Facebook is the clear favorite among consumers over the last three months. People not only prefer using Facebook for in-app purchases but also find it to offer the most enjoyable shopping experience.
The popularity of online shopping on Facebook shouldn't come as a surprise. Even before the launch of Facebook Shops in 2020, users were already turning to Facebook Marketplace to discover items and products being sold by local residents, independent sellers, and nearby stores.
While Facebook Marketplace operates more like Craigslist than a traditional online store, as it still involves contacting sellers or visiting their websites to complete transactions, its long-standing success laid the foundation for Facebook's latest shopping innovations.
Let's take a quick look at the newest ways people are shopping on Facebook:
- Facebook Shops: With Facebook Shops, business page administrators can create a dedicated "Shop" showcasing a list of products or product collections. Each shop can be linked to an Instagram profile, WhatsApp, Messenger, or Facebook Business Page. When users visit a brand's Facebook Business Page, they can easily explore products, add items to their cart, and make direct purchases through Facebook Checkout.
- Facebook Messenger: For social media users who prefer a more personalized approach, messaging brands on Facebook Messenger is a convenient option. Once a brand sets up a Facebook Shop, they can seamlessly integrate it with their Messenger, WhatsApp, or Instagram accounts, making it possible for customers to make purchases directly within their chat threads.
One quick example is Ink Meets Paper Facebook Shop
Facebook has truly become a go-to destination for social commerce, offering a variety of ways for users to discover and buy products while connecting with businesses in a user-friendly manner.
Instagram is the second most popular platform for social shopping among consumers. One of its standout features, Instagram Shops, is a hit among social media marketers. It not only provides the highest return on investment (ROI) but also offers the best tools for selling directly within the app.
Even though most of Instagram's shopping features came after the launch of Facebook Shops, a significant number of people, nearly a quarter, have made purchases on Instagram. Here are some of the noteworthy shopping features on Instagram:
- Instagram Shops: Instagram Shops has a familiar design and layout, similar to Facebook Shops, but it's tailored for Instagram Business Pages. To use this feature, you'll need admin access to a Facebook Business Page and a Facebook Shop. All you have to do is visit your Facebook Commerce Manager settings, connect your Facebook and Instagram Business pages, and activate your Shop on your Instagram Business profile. Once activated, visitors to your Instagram Shop will experience the same mini-online store they would find on your Facebook Shop.
- Instagram Shoppable Posts: Unlike Instagram Shops, you don't require a Facebook Shop to use Instagram Shoppable Posts, although you'll need a Facebook catalog listing your products. This feature lets you link your Instagram feed posts and images directly to the product's Instagram Checkout page. Initially, it started with regular feed-style posts, but now it extends to Instagram Stories, Instagram Live, and even Instagram Reels.
One quick example is H&M Instagram Account
While an Instagram Shop allows your followers to see all the major products or collections you're selling, Instagram Shoppable posts allow you to highlight your product with creative content, such as reviews or demos, while also linking directly to a purchasing page. This enables users to discover a product, watch it in action, and buy it almost immediately if they like what they've seen.
WhatsApp, which is also owned by Facebook, doesn't have its own shopping platform, but it offers a neat way for users to interact with brands. You can chat with companies, browse their products in WhatsApp for Business catalogs, and even make purchases right within your chat.
The payment feature on WhatsApp is similar to Facebook Messenger's "Buy Now" feature. While it might take a bit more time to buy products on WhatsApp compared to Facebook or Instagram Shops, around 13.5% of people have still used this feature.
As WhatsApp continues to grow and add more business features, it's a good app to keep an eye on if you're interested in creating a chat-based community and generating social revenue.
One quick example is You&Co Dubai
WhatsApp can be especially handy for conversational marketers, and it's a valuable tool if you're looking to sell internationally. Unlike Facebook and Instagram, WhatsApp has a huge user base outside of the United States, with its largest audiences coming from India and the UAE.
3. Wondering where to sell your products on social media?
Well, the good news is that people are indeed shopping on social platforms. As more and more brands jump on the social shopping bandwagon, shoppers are getting used to the idea of buying through their favorite social apps.
According to Optinmonster:
- 73% of marketers believe that their efforts through social media marketing have been “somewhat effective” or “very effective” for their business.
- 66% of marketers that spend at least 6 hours on social media per week have gotten more leads.
- 70% of business-to-consumer marketers have gotten their customers through Facebook.
When choosing the right platforms, one crucial factor to keep in mind is your audience. You want to sell where your audience already hangs out.
For instance, if your audience spans various age groups, setting up shop on Facebook could be a great choice. On the flip side, if your audience skews younger, think about embracing TikTok.
Moreover, focus on platforms where you've already built a following. Let's say you have a thriving WhatsApp community; expanding your product offerings there can be a natural extension of your strong social media strategy.
In the end, the winning strategy is all about figuring out where your audience likes to shop or spend time on social media, and then presenting your products right where they are.
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