Top 5 Leading Social Commerce Trends To Know

Introduction

Whether you’re a Gen Z or a millennial, there’s no denying that social media has become an integral part of our daily lives. From scrolling through Instagram reels for hours to keeping up with the latest TikTok trends, social media has a way of captivating us like magic spells cast by Harry Potter himself.

But did you know that social media is constantly evolving? As we enter 2023, new trends are emerging that are set to take the digital world by storm. And, as someone interested in keeping up with the leading social commerce trends, you’re in luck. We’ve done our research and have the data to back it up.

One of the fascinating things about social media is how it adapts to changing consumer trends. Over the years, we’ve seen a shift from text-based updates to more visual content, and now, we’re seeing a rise in social commerce.

Social Commerce is the fusion of eCommerce and social media, blurring the line between the two. It’s a trend gaining popularity over the years as brands look to engage with their audiences in new and exciting ways. By integrating eCommerce into social media platforms, brands can curtail the purchase journey, making it easier for users to purchase without leaving the app.

But social commerce is just one of the many social media trends set to dominate in 2023. From the rise of new platforms like TikTok to the continued innovation in one-to-one communication, social media is evolving at a lightning pace.

So, whether you’re a social media pro or just getting started, keeping up with the leading social commerce trends is important. And, with our expert insights and bonus tips on social commerce, you’ll be ahead of the curve in no time. So, grab your wand (or your smartphone), and let’s dive into the magical world of social media.

Definition of Social Commerce

Whether you’re a young, social media-savvy millennial or an elder who’s just dipping your toes into the digital world, it’s hard to ignore the impact of social media on our daily lives. And as we move further into the future, social commerce is becoming an increasingly important aspect of online business.

Social commerce is all about merging the worlds of social media and e-commerce, making it easier than ever for businesses to connect with their customers and sell products directly through social media channels. And as the online marketplace continues to evolve, businesses must stay on top of the latest trends and technologies to remain competitive.

One of the most exciting things about social commerce is that it allows customers to shop without leaving their favorite social media apps. That means they can research products, discover new brands, purchase, and even receive customer support within the same platform. By creating a more social shopping experience, businesses can build stronger customer relationships and make the process more enjoyable.

And the numbers don’t lie – with the average social media user spending 15% of their waking life on social platforms; it’s clear that social commerce is here to stay. Studies show that a growing number of Gen Z and millennial shoppers have already made at least one purchase on social media. (Source: https://datareportal.com/social-media-users )

The Rise of e-Commerce

Have you ever found yourself scrolling through social media and stumbling upon a product you just wanted? Well, that’s the magic of social commerce, my friend. It’s the perfect blend of social media and online shopping, allowing businesses to sell directly to their target audience on popular social media platforms like Instagram, Facebook, and Snapchat.

It’s no surprise that social commerce has been on the rise, especially with more people staying at home due to the pandemic. As a result, businesses have been forced to adapt and find new ways to reach their customers online, and social commerce has proven to be an effective solution.

Experts predict that social commerce will only continue to grow in popularity, with e-commerce sales projected to reach a whopping 8.1 trillion dollars by 2026. (Source: https://www.brimco.io/ecommerce-statistics-to-know/ )

So, what are the leading social commerce trends that businesses need to know about in 2023 and beyond? Well, for starters, live commerce is becoming increasingly popular, allowing businesses to sell products through live streaming on social media platforms. Personalized shopping experiences are also rising as businesses use data to create customized customer recommendations.

One of the key reasons social commerce has taken off is due to user-generated content (UGC). People trust the opinions of their peers more than traditional advertising, which is why UGC has become such an effective marketing tool for businesses.

As with any online shopping experience, exercising caution and only purchasing from reputable businesses is important. However, some critics of social commerce still argue that it takes away from the social aspect of social media. Some also worry about the potential for scams and fraud when buying products directly through social media platforms.

Nevertheless, social commerce is an exciting development in the world of e-commerce, and businesses that embrace it have the potential for sustainable growth in the years to come. There are a lot many leading social media trends that is going to turn the tables for everyone in 2023. Let’s have a look at it!

Social Commerce Trends In 2023 & Beyond

Well, folks, we have curated 5 excellent and leading social commerce trends in 2023 and beyond. These trends are pretty mind-blowing and are sure to make an impact on how we shop online.

1. Selling Through Conversational Chatbots Is Picking Up

One of the exciting leading social commerce trends we’ll see in 2023 and beyond is conversational chatbots.

Now, what are chatbots? These virtual assistants can communicate with customers through a chat interface, just like when you talk to your friends on messaging apps. And guess what? These chatbots are getting smarter!

Brands use chatbots to provide customer service, help customers find products, and even make sales. With chatbots, businesses don’t need to hire someone to answer customer queries, saving them time and money. The best part? Chatbots can personalize the shopping experience for each customer, making suggestions based on their preferences and previous purchases.

For example, imagine you want to buy a new pair of shoes from your favorite brand’s website. Instead of searching for hours, you can simply start a conversation with the chatbot and tell them what you want. The chatbot can then show you options matching your preferences and even help you complete your purchase without leaving the chat. It’s quick, easy, and personalized!

So, if you’re a business owner, it’s a good idea to explore the world of chatbots and see how they can help you enhance your customers’ shopping experience.

2. Collaborate with Micro-Influencers to Increase Reach

Have you ever come across social media posts where people promote specific products or services? Well, these people are known as influencers. And collaborating with them can help businesses expand their reach and boost sales.

Influencer marketing is a form of the social media marketing that leverages the influence of popular individuals to promote brands and products.

Instagram, one of the most popular social media platforms, says that influencers influence a whopping 87% of people’s purchasing decisions. That’s a lot, right?

When you choose an influencer to work with, selecting someone who caters to your specific industry and has a dedicated following is essential. Micro-influencers are a great option because they have a higher audience engagement rate, and people trust their opinions.

For example, let’s say you have a small clothing brand that caters to young women. You could collaborate with a micro-influencer who has a similar target audience and ask them to promote your new collection on their social media. This way, their followers would be interested in your brand, and you might gain new customers.

Collaborating with influencers (influencer marketing), especially micro-influencers, is an affordable and creative way to boost your brand’s reach and generate sales. It’s a leading social commerce trend that’s been around for some time, but it’s still relevant and worth exploring.

3. Live Streaming or Shopping is What’s Popular

Are you looking for a fun and interactive way to shop online? Well, you might want to try live streaming or live shopping! Did you know that 60% of shoppers say live streaming improves their shopping experience?

Live selling combines the excitement of live auctions with the convenience of online shopping. By using this strategy, businesses can achieve a conversion rate that’s 10 times higher than traditional e-commerce. And it’s not just for businesses, as 17% of American consumers also watch influencer shopping live streams. (Source: https://www.gwi.com/reports/trends-2021?_ga=2.138074553.801395676.1622177766-1370898612.1621540991 )

When you do live to sell, your customers can ask questions in real time, and you can provide immediate answers. This creates a sense of urgency for your customers and helps them make faster purchase decisions. Plus, with the comment section, like-minded shoppers can interact with each other, building a community of loyal customers around your brand.

For example, let’s say you’re a makeup brand doing a live selling event. You can showcase your products, answer questions, and give makeup tips to your customers in real time. You can also collaborate with a makeup artist influencer to attract more viewers and boost your sales.

Live selling is a great way to engage with your customers, create a sense of community, and boost your sales. It’s definitely a leading social commerce trend to keep an eye on in 2023 and beyond.

4. Gather Trust by Turning UGC Into Shoppable UGC

Have you ever looked up reviews and recommendations from other users before making a purchase? Well, you’re not alone! 90% of people find user-generated content (UGC) helpful in purchasing decisions. (Source: https://www.prnewswire.com/news-releases/new-study-shows-user-generated-content-tops-marketing-tactics-by-influencing-90-percent-of-shoppers-purchasing-decisions-300475348.html )

UGC is a powerful tool that generates trust and authentically engages the audience. By using content that displays how existing customers use the product, potential customers can see the benefits of the brand firsthand.

One great way to use UGC is by making it shoppable. This means customers can click on the content and be directed to the product page to purchase it. Eureka Street, a furniture brand in Australia, is an excellent example of this. They used Taggshop to curate, tag products, and publish their shoppable social gallery on their website. As a result, they generated 15% more revenue, had 132% engagement, and had 2k monthly clicks.

So, if you want to gather trust and authentically engage your audience, try turning your UGC into a shoppable UGC!

5. TaggShop Gallery Link

Have you ever clicked on a link in a social media profile description and ended up on a page full of products you can buy? Well, that’s what shoppable gallery links are all about. Brands have been using this trend as one of the leading social commerce trends to drive traffic from social media platforms and boost their sales.

With Taggshop’s Shoppable Instagram Link feature, brands can easily turn their social media posts into shoppable feeds by creating a unique URL. This link can be shared on various platforms like Instagram, Pinterest, YouTube, Facebook, and more. This generates traffic, increases engagement, and ultimately leads to more sales.

The best thing about this feature is that it goes beyond Instagram’s popular “Link in Bio” part. You can curate feeds from different digital and social platforms and add a call to action to empower them.

For instance, imagine a fashion brand sharing their Taggshop shoppable link on their Instagram profile. When you click on it, you’ll be taken to a page full of pictures of their products. It’s that simple! You can click on any image for more details and even purchase directly.

Of course, adding shoppable gallery links is a social commerce trend that is here to stay, so keep an eye out for it!

Final Words

As a business owner, you always look for ways to grow and reach new customers. With social commerce, you can do just that! By keeping up with the leading social commerce trends and technologies, you can use social media platforms like Instagram and Facebook to sell your products directly to your followers.

And who knows, maybe even Harry Potter himself will start using social commerce to buy his magical supplies!

So, whether you’re a young entrepreneur or an older business owner, social commerce is definitely worth considering if you want to take your business to the next level.