Social shopping is being adopted by social media and customers alike, but only 26% of retailers have a formal plan in place for the digital transformation
A recently published report called The Pulse of Digital Transformation, has shown that just 26% of retail and eCommerce specialists surveyed had a formal plan in place for digital transformation.
The robust growth of mCommerce means that social networks and mCommerce are starting to merge. Social apps and networks are now integrating payment features and providing their users with shopping solutions while remaining in their app/network.
In China, 31% of WeChat users make purchases through the app. Snapchat also recently moved to eCommerce and has developed “shoppable” ads.
The trend of social media investing in eCommerce and payments solutions within their network is a bid to attract more brands. However, it also increases convenience for the customer, and as customer expectancy of such technologies grow, retailers will need to make sure they’re providing them. Crossborder brands may need to ensure that they’re in a position to provide payments solutions and shoppable ads to stay current in markets such as China where consumers engage in social shopping.