Wunderman Thompson is out with a new report about the growth of commerce during the pandemic last year.
A key finding was that social commerce is on the rise globally. In the U.S. for example, 13% of Black Friday spending last year was done via social commerce and 47% of U.S. Black Friday shoppers claim to have already purchased via these channels, including Facebook, Instagram and others.
In the U.K., 9% of Black Friday spending was done via social commerce, and 32% of U.K. Black Friday shoppers indicated that they comfortable buying via social media channels.
And in China 13% of Singles Day shopping (an unofficial holiday in November that celebrates unmarried people) was done via social commerce, and 71% of Singles Day shoppers claimed to have purchased via a social media platform.
According to Hallie Wyckoff, director, social media, Wunderman Thompson, “brands and retailers must have a social commerce strategy.”
She adds that “a consumer who follows and actively engages with brand content (liking, commenting, sharing) is a loyal brand ambassador. Providing insight into upcoming promotions, product launches, and even exclusive deals as a part of a brand’s social commerce strategy gives engaged followers added incentive to continue to advocate and share their love for the brand with friends and family.”
Chloe Cox,Wunderman Thompson's global social media manager, adds that “customer experience is key here – what’s important for brands and retailers right now is in ensuring their customer journeys are seamless in the way that they serve their customer from the social platform to their ‘transactional capability’ to complete purchase."
She adds," This is a game changer for brands and retailers who will be able to use their social platforms to complement their D2C, retailer and marketplace efforts, serving as another customer touchpoint in their balanced multichannel strategy.”
Research for the report was commissioned by Wunderman Thompson Commerce and conducted by Censuswide in January, with 6,079 online consumers participating.