Predictions for 2017 are in and social commerce is set to play a big role, after 2016 saw the rise of sales driven by social media
It’s estimated that 2016 saw 50 billion USD of sales generated through social networks, an increase of 20 billion USD from the previous year. Furthermore, the report suggests that 60% of marketers believe social commerce will be 2017’s biggest trend.
The report is backed up by the number of social networks investing in eCommerce capabilities. Facebook, Twitter, Instagram and Pinterest have all introduced eCommerce features.
In India, Roposo is a fashion social network which is already seeing branding/advertising as a main source of revenue.
Last year, Facebook announced plans to enable purchasing through its chat app, and other networks are expected to follow suit. In-app social commerce will be one to watch in 2017.
There’s no doubt that 2017 will be a big year for eCommerce with sales expected to rise globally. Brands hoping to succeed will need to keep abreast of all eCommerce channels, going where the customers demand. Social media will play a major role, and given the availability of target audiences on these platforms, it’s clear that international brands will need to consider social commerce in their future eCommerce plans.
Source: The Financial Express