Social Commerce & Multi-Platform eCommerce Trends

A recent consumer survey and trends research by leading retail think tank PSFK shows what a successful Multi-Platform eCommerce Strategy can look like, delving into how top brands and retailers are engaging and transacting with customers across digital & social content and social commerce platforms beyond just their own.

The research shows that brands and retailers need to direct marketing strategies and business initiatives to social commerce platforms such as Facebook shops, Facebook Live, Instagram Shopping, TikTik Shopping and other key players.

What Is Social Commerce?

With shoppers spend more time on social networks, online video streaming platforms, and other digital channels, the are spending less time in online retail channels and eCommerce sites. Brands have the challenge and opportunity to evolve their social commerce strategy to meet potential customers on the social platforms that their target consumers are using and  adapt their messaging to speak to their desired customer. By investing in the social commerce experience, companies need to develop content that fits within these social channels and create seamless social commerce shopping experiences.

Key Social Commerce Trends

In a recent report, PSFK trends research found several trends for social commerce.

Brand Fan Communities

In curating consumer “club” experiences, brands and retailers are tapping into like-minded communities, focused on specific hobbies or interests. 

Influencer Storefronts

As consumers increasingly look to their favorite creators as their first and sometimes only source of discovery, platforms are designing affiliate programs that allow them to curate their own shoppable storefronts. 

Livestream Connection

To provide shoppers with greater value, drive participation, and even encourage in-store visits, retailers are leaning into live shopping events to drive connection and engagement. 

Mobile Shopping Assistants 

Digital consumers are increasingly seeking digital shopping assistants, mobile and desktop browser extensions and AI-enabled personal shopping services to fulfill in-the-moment tasks and to help them fill specific needs.  

How Consumers Are Shopping With Social Commerce 

The  PSFK survey of US Shoppers shows that: 

• Shoppers want engagement from brands and retailers in the same places that they are social or where they are consuming entertainment and news. Only 33% of online US shoppers still click through and buy a product on a brand or retailer’s eCommerce site when that product is discovered on social media channels or news sites. 25% of potential buyers prefer to order the product without leaving social media platforms or content sites, and 13% are still inspired to go buy the product in store.
• Already widely used in Asia, livestream selling in the West is slowly emerging as an engaging retail tool. 56% of US shoppers have used a livestream to shop online, and 31% of those shoppers say they are more likely to buy a product that they discover in shoppable content on a livestream.
• Expecting convenience across all digital checkout points, consumers are finding ways to remove friction from the payment process. As they pursue a frictionless experience, 29% of US consumers plan to use shopping assistants (bots) in the future as part of their social commerce shopping.
• As part of the customer journey, social media users are engaging in forums and other community spaces to learn more about products. Research shows if a US shopper was to join their favorite brand’s online community, engagements that they would expect include redeemable coupons (46%), to receive a token or digital asset for participation (32% of shoppers), guaranteed access to products prior to selling out (32%), promotions about the brand’s product (28%).

Other findings from the survey, supported by PSFK’s research, show that consumers are increasingly expecting convenience across all digital checkout points, and favoring brands and solutions that remove friction from the payment process. 

PSFK US Online Shopper Survey

The PSFK quantitative survey was conducted January 26-29, 2022. The survey was a ‘basic census’ balanced in terms of age and gender. The respondents had household income between $0-$200k.

For a copy of complete survey findings, contact: membership@psfk.com

For further insights covering the tools, technologies, and solutions brands and retailers are using to influence, engage, transact, and connect with consumers, please refer to the full PSFK iQ report. Now available to download.