Social commerce is growing in Europe. Research and Markets expects Europe’s social commerce industry to climb 36 percent annually from 2022 to 2028. Over that same period, social commerce gross merchandise value (GMV) throughout the region is forecast to jump from $67 billion to $424 billion.
And with European brands averaging a 3.1 percent purchase intent (PI) rate, there are massive opportunities for eCommerce brands to carve out sales from this region.
Wondering how?
We’ve sorted through the latest insights to uncover what eCommerce strategies are resonating with European shoppers. Here’s how your brand can unearth the best social commerce returns in this growing market.
Weave the EU’s Top-Performing Social Commerce Channels into Your Marketing Strategy
According to a global Statista report, Western and Northern Europe are using social media at the highest rates in the world—with the two regions each landing a social network penetration rate of 84 percent. However, not every social commerce channel is delivering the same number of sales for EU brands.
According to recent MikMak data, Instagram racked up the highest purchase intent by social channel throughout last year with 8.6 percent. That was more than double the next-best performing channel, Facebook, which secured a PI rate of 3.4 percent. YouTube slid in a sliver lower than Facebook with 3.1 percent PI.
The best way for brands to cash in on the EU eCommerce market is to build a presence on these top-performing social channels and to continue to track which social platforms are sparking the most purchases.
Build Creative to Fit Each Leading EU Social Commerce Platform
Across the globe, social media is pushing waves of traffic toward eCommerce brands. According to MikMak’s Shopping Index, 76 percent of all on-platform eCommerce traffic rolled in from social channels throughout the last year.
Within the EU, brands can take advantage of these social commerce trends by tailoring their marketing strategies to fit the channels that draw in shoppers most often. Here are a few tips for crafting creative ads for these three top-performing social media platforms:
When creating ad content on Instagram, promote your brand in quick-hitting, highly visual images or clips. It’s also wise to consider promoting your messages through Instagram Stories; research has found shoppers are 2-3x more likely to engage with these than with other posts.
With this channel, users are constantly clicking links and hopping from site to site. That’s why it’s important to track how they’re engaging with your brand on Facebook, as well as where your shoppers are heading afterward and where else they’re spending their time online. From there, mold your messaging to fit their shopping journey.
YouTube
Shoppers often come to this social commerce platform looking for DIY tips and educational content. High-performing ads show consumers how to use shopping items or lay out creative ideas for a product.
Harness Livestream Commerce as It Catches Fire in the EU
Livestream commerce is growing worldwide, but its popularity is exploding in Europe. According to a Statista report, livestream commerce grew more in Europe following the pandemic than any other region with livestream shoppers increasing by 86 percent.
With livestream commerce, your brand streams a live video for shoppers. In many cases, you can also include video stitching or live chats, so shoppers can interact with your video in real time.
To cash in on the EU livestream commerce market, top-performing brands are following a few important steps:
Focus on ad content creation.
Livestream commerce relies on compelling content and personalities that connect with potential shoppers. It’s one reason creator marketing budgets ballooned more than 4x since 2016. Work directly with influencers to craft stories that relate to your target audience, and shoppers will reward you with more business.
Get to know your audience.
The best-performing brands understand who is interacting with their content on which social media channels. With that information in hand, you’ll have what you need to form partnerships, create content, and design an eCommerce brand strategy that shaves off a bigger piece of the European market.
Track real-time ad performance.
Livestream commerce is immediate, quick-hitting, and dynamic. The best-performing brands see what’s resonating with their audiences and quickly pounce on trends. To identify livestream commerce ROI, see opportunities, and adjust your plan, you need to be able to measure your eCommerce strategy’s performance across shopping experiences in real-time.
Green Cuisine’s “Fishless Finger Tacos” TikTok ad, which recently launched in the UK for Veganuary, is a standout example of how to create compelling livestream commerce content. The ad uses bright, highly visual images and punchy instructions to grab its audience’s attention. It also provides educational content that shows shoppers a creative way to use its products.
Want to see how easy it can be to track benchmarks, pull in real-time insights, map out your eCommerce strategy, and promote your brand? Schedule a MikMak demo to try it out for yourself.
Want more insights into topics like social commerce, global marketing, and more? Check out these recent episodes of The BRAVE COMMERCE Podcast:
