Technology is ubiquitous and there's no better evidence than the evolution of shopping. While the pandemic accelerated the growth of e-commerce, social media platforms are helping to drive new growth.
More and more social media platforms are delivering social commerce functionality that translates product delivery into product purchase. Social media platforms are adding shopping and checkout capabilities that make it easy for shoppers to click on a link in a social media post and go directly to a retailer's product page for immediate purchase.
Ad Age reports that one fashion brand acquired more than 700,000 new customers while a food brand sold more than 6,000 units of a limited edition product via social commerce in Q1 of 2021.
And it’s not just food and fashion that are benefiting from these advances. In a report from eMarketer, US social commerce sales are predicted to rise by 34.8% to $36.09 billion in 2021 and reach more than $50 billion by 2023. That number represents 4.3% of all retail e-commerce sales.
US Social Commerce Sales Growth
Consumers making purchases via social commerce grew by 25.2% to 80.1 million shoppers in 2020 and experts predict that number will grow to over 90.4 million shoppers in 2021.
US Social Commerce Buyers Growth
As with all advances in the digital age, bad actors have been quick to move in to take advantage of trusted brands. In an earlier blog, we discussed how consumers value authenticity in brand interactions, especially in social media. While all the major platforms strive to present safe, secure experiences, brands need to incorporate social media into their overall brand protection strategies, too. Illustrating this point: we have found that social media can be an indicator of further abuse; 9% of infringing social handles and profiles are related to additional infringement.
Modern brand protection solutions can identify high-priority brand abusers and systemic brand abuse networks. This lets you focus on the most egregious offenders -- and ensure your customers have a safe and authentic experience with your brand.
To learn more about how Appdetex can help you meet today’s brand protection challenges and help keep your brand and consumers protected, click here to request a demo.