Social commerce is growing quickly, and it could funnel cash to eCommerce brands that use the right strategy. According to a Statista report, sales via social media platforms are forecast to streak to $2.9 trillion by 2026.
However, new insights show that not every social commerce strategy is working, and some select tactics are supercharging returns. MikMak drilled down into the latest insights to unearth which social commerce strategies are inspiring the most sales. Here are the trends that are surfacing, along with the best eCommerce marketing strategies to capitalize on the rise of social media.
Ideal shopping experiences change from one social platform to another
Category data shows that consumers shop for different product categories, depending on which social platform they’re using. Across all major social platforms except for TikTok, the grocery category captures the most clicks. Personal care also draws in the second-most clicks for every major platform. But shoppers diverge from there.
Snapchat and YouTube were the only two social platforms where the beauty category slid into the top three for most clicks. For Facebook, spirits holds the number three position, while Instagram’s third-most popular category is toys.
When it comes to click-through rates, popular shopping categories vary even more by platform. For rates, infant care secures the top spot for Facebook and Instagram. Snapchat and YouTube mimic each other again, with toys garnering the highest rates on those channels. TikTok continues to act as an outsider, with health and wellness pulling in the highest rates on that platform.
Livestream shopping is lining up for a run.
Livestream shopping’s popularity is beginning to boom. According to one Statista report, livestream purchases in 2021 surged by 76 percent, on average, from pre-pandemic years. Forrester already expects livestream shopping to rise to $25 billion this year, and major social commerce channels are shoveling heaps of cash into building out livestream shopping.
You can weave livestream shopping into your eCommerce marketing strategy by identifying what social platforms your consumers are using and building creative ads to target those shoppers. For instance, if you want to promote a food product, consider crafting a hard-hitting recipe walkthrough on Instagram Stories. Or if you want to feature beauty products, it could pay off to create tutorial ads for makeup on TikTok.
No matter what your brand wants to feature, you can capitalize on the livestream upswing by creating sharp, eye-catching ads that fit shoppers’ favorite platforms.
Grocery shopping is growing on social commerce channels
Grocery shopping jumped on social platforms throughout last year. MikMak insights found Purchase Intent Clicks (PICs), which describes how many times shoppers click to a retailer from a social media platform, for the grocery category sprung up by 61 percent in one year.
Personal care PICs also grew last year, upticking by 34 percent from 2021. At the same time, traffic for the beauty category fell in 2022—sliding by 23 percent.
The upswing in grocery traffic might mean high inflation and other financial pressure is weighing on shoppers, and they’re focusing more attention on staples to cope.
Uncover deeper insights about social commerce
As social commerce climbs, eCommerce brands can capture more attention—and land more sales—by tapping into the latest shopping patterns. And when it comes to social commerce shopping habits, this article is just the tip of the iceberg. Download MikMak’s State of Social Commerce Report: 2023 for an in-depth look at which social commerce strategies are connecting most with shoppers.